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10 Furze Hill Court, Hove BN3 1PG Print E-mail

3furzehillcourtsmall.jpgONE BEDROOM PURPOSE BUILT FLAT
£144,950 SHARE OF FREEHOLD

A one bedroom first floor purpose built apartment with balcony and large communal garden.  An excellent investment opportunity - not to be missed!
Initial outlay required:  £85,095

SOLD

 

Location: Furze Hill is a great location - close to Hove seafront, the very beautiful St Anne's Well Gardens and Sussex County Cricket Ground.  The property is also ideally situated for easy access to the many bars, cafes, restaurants and shops in the city of Brighton & Hove.  Both Brighton and Hove's mainline railway stations with fast, frequent links to London Victoria and Gatwick Airport are within easy reach.

Description: A one double bedroom apartment on the garden level of a much sought after purpose built block.  Benefits include a resident caretaker and well maintained communal gardens.  Refurbishment will transform this property into an ideal rental flat.

Approximate Area: 400 square feet

Entrance: Communal entrance with stairs and lifts to garden first floor.  Personal entrance hall with storage cupboard.

Lounge: 14'10 x 10'4  Double glazed window with single glazed door to balcony.  Dark carpet, electric fire.

Kitchen:  Range of modern base units with eye level wall cupboards above.  Laminate worksurface with single drainer sink unit.  Built in electric oven and hob with extractor over.  Space for fridge, space and plumbing for washing machine.  Double glazed window.  Serving hatch to lounge.

Bedroom: 13' x 8'7  Double glazed window with single glazed door to balcony.  Two double fitted wardrobes, wall mounted electric heater, dark carpet.

Bathroom: Modern white suite comprising panelled bath with electric shower over, wash hand basin and low level wc.  Part tiled.  Double glazed window.

Outside: Well maintained communal gardens with southerly aspect.

Outgoings:

Lease: Share of Freehold
Maintenance:  £1,800 per annum
Ground Rent: n/a

Recommended Update:  New appliances and blinds. 

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: 10 FURZE HILL COURT, HOVE BN3 1PG
Financial Forecast Guide

Asking Price £144,950  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £144,950  
Estimated Update £1,500 incl 10% supervision fee
Stamp Duty 1,450 commencing @ 1% over £125k
TOTAL £147,900  
 
Estimated Rental Income
Rent per week £150  
Rent per month £650  
Rent per year £7,800  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,346 @ 15% plus VAT
Ground Rent n/a per annum
Maintenance Charge £1,800 per annum
TOTAL £3,146 per annum
 
Summary
Gross Rent Per Year £7,800  
Annual Operating Costs £3,146  
Nett Cash In Hand pa £4,656  
Nett Cash In Hand pm £388  
 
Mortgage - Assuming 70% Loan £64,950  
 
Total Cash Outlay £85,095  
 
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