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Flat 41, 4 Grand Avenue, Hove BN3 2LE Print E-mail

4grandave41fsmall.jpgFIFTH FLOOR PURPOSE BUILT STUDIO FLAT
£119,950 LEASEHOLD

A spacious studio apartment at one of the most prestigious locations in Hove.  This fifth floor property benefits from a south easterly facing balcony with oblique sea views and use of the communal gardens.
Initial outlay required: £40,630

SOLD

Location: Grand Avenue is one of the most sought after roads in Hove.  This central Hove location offers superb shopping facilities and a cosmopolitan selection of bars and restaurants.  The lawns, promenades and beaches of Hove seafront are just a short walk away, as is Sussex County Cricket Ground.  Hove's mainline railway station provides fast, frequent links London and Gatwick Airport and the local buses provide quick, regular services to Brighton city centre and beyond.

Description: A well presented, spacious studio situated on the fifth floor of a presigious apartment block.  This property further benefits from a modern kitchen and a private balcony

Approximate Area: 300 square feet

Entrance: Impressive communal entrance hall with stairs and lift to fifth floor.  Private front door to Flat 41 opening to carpeted hallway with wall mounted corner display shelf with hanging hooks for coats.  Double fitted storage cupboard with shelving and hanging rail and further storage cupboards above.  Radiator.

Studio Room:  14' x 13'8  Two multi paned glazed doors to balcony with windows to either side of doors.  Feature fire place, built-in double wardrobe with shelving and hanging rail.  Feature fireplace and two radiators.

Kitchen:  9'2 x 5'10  Range of modern base and eye level units with contrasting work surface over.  Inset white sink with mixer tap and drainer.  Integrated electric oven with four ring electric hob over and concealed extractor over hob.  Integrated fridge and washing machine.  Tiled splashback and part tiled walls.  Window to side.

Bathroom:  9'1 x 4'9  Three piece suite consisting of a panel enclosed bath with hand grips, mixer tap with shower attachment and folding shower screen.  Close coupled wc and wall mounted pedestal hand basin.  Wall mounted heated towel rail.  Ceramic tiled walls.  Obscure window to side.

Balcony:  10' x 3'3  South easterly facing balcony with views across Brighton & Hove and oblique sea views.

Outgoings:

Lease: 89 years remaining
Maintenance: £2,800 per annum - including heating and hot water
Ground Rent: £30 per annum

Recommended Update: New blinds, 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: FLAT 41, 4 GRAND AVENUE, HOVE BN3 2LE
Financial Forecast Guide

Asking Price £119,950  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £119,950  
Estimated Update £2,500 incl 10% supervision fee
Stamp Duty nil commencing @ 1% over £175k
TOTAL £122,450  
 
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 £30 per annum
Maintenance Charge £2,800 per annum
TOTAL £4,176 per annum
 
Summary
Gross Rent Per Year £7,800  
Annual Operating Costs £4,176  
Nett Cash In Hand pa £3,625  
Nett Cash In Hand pm £302  
 
Mortgage - Assuming 70% Loan £83,965  
 
Total Cash Outlay £40,630  
 
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