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Flat 19 Windermere Court Brighton Print E-mail

19windermerecrtsmall.jpgONE BEDROOM SECOND FLOOR FLAT WITH GARAGE
£153,000 SHARE OF FREEHOLD

A well proportioned one bedroom flat with a Share of the Freehold.  This property further benefits from a garage, well maintained communal gardens and delightful views over Queens Park.  A great investment and a great rental opportunity.
Initial outlay required: £57,045

SOLD

Location: Windermere Court is situated in a very popular residential location adjacent to the delightful Queens Park.  All local amenities are easily accessible and local buses provide quick, regular services into Brighton and Hove and beyond.

Description: A one bedroom, second floor flat with a Share of the Freehold.  This property forms part of a small purpose built block.  Additional featues include a garage and well maintained common ways and communal gardens.  This flat requires some refurbishment which will transform it into a very desirable property.

Approximate Area: 420 square feet

Entrance: Communal entrance with stairs rising to second floor.  Front door leading to hallway with one single and one double storage cupboard with shelving and hanging space, door entry phone answer system and radiator.

Lounge: 16'7 x 11'2  Double glazed window to side, radiator.

Kitchen: 6'1 x 7'5  New kitchen required.

Bedroom: 12'4 x 9'6  Double glazed window to front with views over Queen Park, radiator and two double wardrobes.

Bathroom:8'10 x 4'10  Bathroom suite comprising panel bath with mixer taps and hand held shower attachment, pedestal wash hand basin and low level close coupled wc.  Radiator, part tiled walls and double glazed window with frosted glass to the side.

Outside:

Garage:  15'11 x 7'3  With up and over door
Communal Gardens:  Well maintained

Outgoings:

Lease: Share of Freehold
Maintenance:£600 per annum
Ground Rent: n/a

Recommended Update: New kitchen and appliances, redecoration, new carpets, blinds and bathroom light.

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: 19 Windermere Court Brighton
Financial Forecast Guide

Asking Price £153,000  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £153,000  
Estimated Update £9,000 incl 10% supervision fee
Stamp Duty nil commencing @ 1% over £175k
TOTAL £162,000  
 
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 nil per annum
Maintenance Charge £600 per annum
TOTAL £1,946 per annum
 
Summary
Gross Rent Per Year £7,800  
Annual Operating Costs £1,946  
Nett Cash In Hand pa £5,855  
Nett Cash In Hand pm £489  
 
Mortgage - Assuming 75% Loan £107,100  
 
Total Cash Outlay £57,045  
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