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Flat 8, 3-4 Sillwood Place, Brighton BN1 2LH Print E-mail

FIRST FLOOR CONVERTED ONE BEDROOM FLAT 4sillwood-small.jpg

£142,500 LEASEHOLD

A small one bedroom flat in period building situated in an extremely central position in the heart of Brighton.  Gas central heated with a Western aspect.

Initial outlay required: £54,320

SOLD

Location: Sillwood place is situated between Western Road and Brighton seafront.  All the city centre facilities are in easy walking distance of this property.

Description: A west facing one bed first floor property in period building, benefiting from gas central heating and newly fitted bathroom suite. 

Approximate Area: 330 square feet

Entrance: Stairs to first floor, door to small entrance hall. 

Lounge: 11'10 x 9'7 Radiator, double doors to juilet balcony.

Kitchen: Basic kitchen units with circular bowl inset into work top, hob with two rings.  (Recommended that the kitchen be stripped out and new one fitted)

Bedroom: 11'7 x 9'9 Radiator, cupboard housing wall mounted Valliant combination boiler, Space & plumbing for washing machine. 

Bathroom: New White suite, part tiled walls, low level WC, pedestal wash hand basin, Radiator. 

 

Outgoings:

Lease: New 99 year lease
Maintenance: £900 pa
Ground Rent:  £100 pa

Recommended Update: New Kitchen, Blinds, Electric shower, Electrical work, making good and redecorating. 

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 8, 3 - 4 Sillwood Place, Brighton BN1 2LH
Financial Forecast Guide

Asking Price £142,500  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £142,500  
Estimated Update £8,000 incl 10% supervision fee
Stamp Duty £1,425 commencing @ 1% over £125k
TOTAL £151,925  
 
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 £1,345 @ 15% plus VAT
Ground Rent £100 per annum
Maintenance Charge £900 per annum
TOTAL £2,346 per annum
 
Summary
Gross Rent Per Year £7,800  
Annual Operating Costs £2,345  
Nett Cash In Hand pa £5,456  
Nett Cash In Hand pm £455  
 
Mortgage - Assuming 70% Loan £99,750  
 
Total Cash Outlay £54,320  
 
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