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1a Borough Street Print E-mail

1aboroughstreetsmall.jpgGROUND FLOOR CONVERTED STUDIO FLAT
£115,000 Share of Freehold

An ideal buy to let investment, this studio flat is located in a central area of Brighton much sought after by tenants.  This property does not require any refurbishment and the current tenant is keen to remain.  An ideal investment opportunity.
Initial outlay required: £37,200

SOLD

Location: Borough Street is in the highly sought after Clifton Hill Conservation Area, just north of Western Road with its excellent range of shops, bars and restaurants and frequent bus services to all parts of the city and beyond.  Both Brighton Station and Brighton seafront are within walking distance of this very central location.

Description: A ground floor converted studio flat with gas fired central heating.  A very rental property which does not require any refurbishment.

Approximate Area: 250 square feet

Entrance: Communal front door leading to

Studio Room: 14'10 x 10'5  Two sash windows to front aspect, feature fireplace with mantle surround, radiator, carpet.  Archway to kitchen.

Kitchen:12' x 7'5  Window to rear aspect.  A range of wall and base level units with roll edge work surfaces over and stainless steel sink unit with drainer.  Built in stainless steel oven, hob and extractor, fridge and washing machine.  Tiled splashbacks, vinyl flooring, wall mounted gas boiler providing heating and hot water.

Bathroom:White suite comprised of panelled bath with shower over, pedestal basin and low level wc.  Fully tiled, vinyl flooring.

Outgoings:

Lease: Share of Freehold
Maintenance: £500 approx
Ground Rent: n/a

Recommended Update: No update required

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: 1A BOROUGH STREET BRIGHTON BN1 3BG
Financial Forecast Guide

Asking Price £115,000  
 
Set Up Costs
Solicitors Fees £700 incl VAT excl disbursements
Research Fee £2,000  
 
Purchase Costs
Assumed Purchase Price £115,000  
Estimated Update nil
Stamp Duty nil commencing @ 1% over £125k
TOTAL £115,000  
 
Estimated Rental Income
Rent per week £105  
Rent per month £455  
Rent per year £5,460  
 
Owner's Annual Operating Costs
Rental Agent's Fees £982 @ 15% plus VAT
Ground Rent £0 per annum
Maintenance Charge £500 per annum
TOTAL £1,482 per annum
 
Summary
Gross Rent Per Year £5,460  
Annual Operating Costs £1,482  
Nett Cash In Hand pa £3,978  
Nett Cash In Hand pm £331  
 
Mortgage - Assuming 70% Loan £80,500  
 
Total Cash Outlay £37,200  
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