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7 Sudeley Street, Brighton BN2 1HE Print E-mail

7sudeleystreetsmall.jpgONE BEDROOM FIRST FLOOR FLAT WITH SHARE OF FREEHOLD
£160,000

This spacious first floor flat with a private balcony further benefits from a share of the freehold.  Situated a short distance from Kemp Town village and seafront and with excellent bus services to Brighton city centre and beyond this is an ideal investment and rental property.
Initial outlay required: £45,645

SOLD

Location:  Sudeley Street is a short distance from the Royal Sussex County Hospital.  The heart of Kemp Town village, with its unique array of shops, bars and restaurants together with Kemp Town's celebrated Regency seafront are just a few minutes walk away.  Also close by is Brighton Marina which offers a range of leisure facilities, shops and restaurants.  Brighton city centre is approximately one mile away with local buses providing regular services to central Brighton and beyond.

Description:  A spacious first floor apartment with a modern, fitted kitchen and a modern, fully tiled bathroom.  This excellent property further benefits from a private, south facing balcony, gas central heating and a share of the freehold.

Approximate Area: 450 square feet

Entrance:  Timber front door leading to communal entrance hallway with stairs leading to first floor landing.  Timber entrance door with frosted stained glass panes leading to split level entrance hallway with radiator, wall mounted entry phone system and door to south facing balcony.

Lounge:  12'7 x 12'1 (extending to 16' into recess)  Stripped wooden door, high ceilings with coving and large picture window to the rear of the property with south facing aspect.  Dining area in recess, carpeted flooring, radiator and hatch leading to loft space.

Inner Hallway:  Utility cupboard with shelving and space for tumble dryer.

Kitchen:  9'5 x 5'3  Modern, recently fitted units at eye and base level with one and a half bowl single drainer sink unit with mixer tap.  Laminated wooden work surface, integrated four burner gas hob with matching fan assisted oven under and extractor hood over.  Tiled splashbacks, space and plumbing for washing machine and dishwasher, space and electricity point for fridge/freezer.  Track lighting and sash window to front.  Recently fitted wall mounted gas central heating boiler.

Bedroom: 14'8 x 11'7  Stripped wooden door, high ceilings, feature fireplace with marble surround and feature cast iron basket.  Original cupboards, wardrobe/storage cupboard with stripped wooden door, internal hanging rail and further storage cupboards above.  Coved ceiling and attractive, large bay sash window to front.  Radiator, carpeted flooring.

Bathroom:  8'3 x 5'6  Stripped wooden door.  White modern bathroom suite comprising tiled panelled bath with contemporary mixer tap and shower attachment, glass shower screen, contemporary pedestal hand basin with mixer tap and low level wc with twin flush.  Fully tiled walls, slate style ceramic floor tiles and heated chrome towel rail.  Recessed spotlights, velux style window with further window to the side with westerly aspect.

Balcony: 6'8 x 3'4  Enclosed by double glazed frosted panel giving a high degree of privacy and seclusion and having sunny south aspect with elevated views over surrounding area.  Space for table and chairs and pot plants. 

Outgoings:

Lease:  Share of Freehold
Maintenance:  £660 per annum
Ground Rent:  n/a

Recommended Update:  Blinds, appliances, new carpets and some redecoration.

A professional electrical survey may reveal work not covered by the update.  It is recommended that an electrical survey is carried in additon to the valuation survey at a cost of GBP 180.00 (inclusive of VAT) 

These details are produced in good faith but are set out as a guide only and do not constitute any form of contract nor any statement contained therein to be representation or warranty. Any intended purchasers must satisfy themselves by inspection or under advice of their solicitor particularly in context of any approved plans for other on site or nearby development.

FINANCIAL FORECAST:  7 Sudeley Street, Brighton BN2 1HE
Financial Forecast Guide

Asking Price £160,000  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £160,000  
Estimated Update £3,500 incl 10% supervision fee
Stamp Duty nil commencing @ 1% over £175k
TOTAL £163,500  
 
Estimated Rental Income
Rent per week £160  
Rent per month £693  
Rent per year £8,320  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,435 @ 15% plus VAT
Ground Rent £0 per annum
Maintenance Charge £660 per annum
TOTAL £2,095 per annum
 
Summary
Gross Rent Per Year £8,320  
Annual Operating Costs £2,095  
Nett Cash In Hand pa £6,225  
Nett Cash In Hand pm £519  
 
Mortgage - Assuming 75% Loan £120,000  
 
Total Cash Outlay £45,645  
 
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