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Flat 3, 3 Lansdowne Street, Hove BN3 1FS Print E-mail

3lansdownestreetsmall.jpgONE BEDROOM FIRST FLOOR PERIOD FLAT WITH SHARE OF FREEHOLD
£150,000

A one double bedroom first floor flat within a period building.  Situated in a popular, central location in Hove, this property is particularly convenient for all local amenities and transport links.  An ideal rental property.
Initial outlay required: £43,645

SOLD

Location:  A central but quiet location.  The bustling city centre with its excellent shopping facilities, cosmopolitan bars and restaurants is just a short stroll away, as is Hove seafront.  Brighton Station is within easy reach and local buses provide regular services throughout Brighton and Hove and beyond.  An ideal rental property.

Description:  A one double bedroom first floor period flat which benefits from a Share of the Freehold.

Approximate Area:  400 square feet

Entrance:  Communal front door to hallway and stairs rising to first floor.  Private front door opening to carpeted entrance hall with security entryphone, storage cupboard and loft hatch.

Lounge:  15' x 14'11  Wall mounted electric storage heater.  Shelving to both alcoves.  Fixed decorative pine storage box/television stand to one alcove.  Fixed pine window seat with storage to sash bay window.

Kitchen:  10' x 5'8  Range of base and eye level units with contrasting work surface over.  Inset stainless steel sink with hot and cold taps and drainer.  Inset electric oven and hob with extractor over to alcove.  Space and plumbing for washing machine, space for fridge.  Tiled splashback.  Multi paned sash window to rear.

Bedroom:  11'8 x 8'1  Wall mounted storage heater.  Multi paned sash window to side.

Bathroom:  Three piece white suite consisting of a panel enclosed bath with wall mounted electric shower, wc and hand basin with storage cupboard below.  Airing cupboard.  Part tiled walls.  Extractor fan.  Varnished wooden floorboards.

Outgoings:

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

Recommended Update:  Redecoration, coving, new carpets, new blinds and new appliances

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: FLAT 3, 3 LANSDOWNE STREET, HOVE
Financial Forecast Guide

Asking Price £150,000  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £150,000  
Estimated Update £4,000 incl 10% supervision fee
Stamp Duty nil commencing @ 1% over £175k
TOTAL £154,000  
 
Estimated Rental Income
Rent per week £145  
Rent per month £628  
Rent per year £7,540  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,301 @ 15% plus VAT
Ground Rent £000 per annum
Maintenance Charge £660 per annum
TOTAL £1,961 per annum
 
Summary
Gross Rent Per Year £7,540  
Annual Operating Costs £1,961  
Nett Cash In Hand pa £5,579  
Nett Cash In Hand pm £465  
 
Mortgage - Assuming 75% Loan £112,500  
 
Total Cash Outlay £43,645  
 
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