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Flat 2, 20 Tisbury Road Hove BN3 3BA Print E-mail

20tisburyrdf2small.jpgGROUND FLOOR CONVERTED STUDIO FLAT
£110,000 LEASEHOLD

A ground floor studio flat with modern kitchen and bathroom.  Sought after central Hove location.  Ideal investment property.
Initial outlay required: £37,145

SOLD

Location: Situated in this sought after central location within easy reach of Hove mainline railway station and close to all the local shopping facilities, restaurants, cafes and bars.  Excellent bus services to all parts of the city are near at hand and Hove seafront is just a short walk away.

Description: A well proportioned ground floor studio flat with high ceilings, a modern kitchen and a modern bathroom.  An ideal investment opportunity in a great location.

Approximate Area: 300 square feet

Entrance: Communal entrance hall leading to own front door.

Studio Room: 18'3 x 14'1 

Studio Section  Night storage heater, telephone and television points.  Cupboard housing electricity fuse board.  Fitted cupboard housing lagged copper cylinder fitted immersion heater.  Wall lights.

Kitchen Section  Well fitted with modern range of laminate topped base units and extensive high level wall cupboards.  Inset 'Electrolux' ceramic hob with stainless steel oven under, cooker hood over.  'Zanussi' washing machine, 'Kenwood' slimline dishwasher.  Inset stainless steel sink unit with mixer tap.

Bathroom: White suite comprising panelled bath with mixer tap and 'Creda' electric shower over, low level wc, vanity unit with light and shaver socket over, chromium towel rail and extractor.

Outgoings:

Lease: 95 years remaining
Maintenance: £600 per annum
Ground Rent: £120 per annum

Recommended Update: Redecoration, new carpet

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 2, 20 TISBURY ROAD, HOVE BN3 3BA
Financial Forecast Guide

Asking Price £110,000  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £110,000  
Estimated Update £2,000 incl 10% supervision fee
Stamp Duty nil commencing @ 1% over £175k
TOTAL £112,000  
 
Estimated Rental Income
Rent per week £120  
Rent per month £520  
Rent per year £6,240  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,076 @ 15% plus VAT
Ground Rent £120 per annum
Maintenance Charge £600 per annum
TOTAL £1,796 per annum
 
Summary
Gross Rent Per Year £6,240  
Annual Operating Costs £1,796  
Nett Cash In Hand pa £4,444  
Nett Cash In Hand pm £370  
 
Mortgage - Assuming 70% Loan £77,000  
 
Total Cash Outlay £37,145  
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