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Flat 2, 15 Brunswick Road Hove BN3 1DG Print E-mail

15brunswickrdsmall RAISED GROUND FLOOR STUDIO FLAT
£112,500 LEASEHOLD

This studio flat is located in a central area of Hove much sought after by tenants.  This property does not require any refurbishment and the current tenant is keen to remain.  An ideal investment opportunity.  SOLD
Initial outlay required: £36,450

Location: Brunswick Road is a sought after residential road close to the city centre with high street shopping, entertainment, restaurants, main bus routes and the seafront all just a couple of minutes walk away.  Sussex County Cricket Ground is ten minutes walk to the West and Brighton's main line railway station with its fast, frequent links to London and Gatwick is ten minutes walk to the East.

Description: A converted, contemporary designed studio apartment which combines modern and original features which will appeal to tenants looking for a studio with class.

Approximate Area: 340 square feet

Entrance:  Communal front door with telephone intercom system.

Studio Room:  Front aspect full length original sash windows, double radiator, solid wood flooring, traditional cast iron feature fireplace with tiled decorative surround, power points, telephone point.  At rear section of living area illuminated steps up to contemporary kitchen area enclosed by glass panel.

Kitchen Area: Integral stainless steel gas hob, oven and overhead extractor.  Matching base and eye level units with tiled splash backs, one and a half stainless steel sink and drainer with swan neck mixer tap, washing machine, fridge.  Power points.

Bathroom: Three piece suite comprising panel enclosed bath with electric shower over, wash hand basin with swan neck mixer tap and low level wc.  Full mirrored wall, tiled splash backs and down lights.

Outgoings:

Lease: 106 years remaining
Maintenance: £714 per annum
Ground Rent: £40 per annum

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 addition 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, 15 BRUNSWICK ROAD HOVE BN3 1DG
Financial Forecast Guide

Asking Price £112,500  
 
Set Up Costs
Solicitors Fees £700 incl VAT excl disbursements
Research Fee £2,000  
 
Purchase Costs
Assumed Purchase Price £112,500  
Estimated Update £0 incl 10% supervision fee
Stamp Duty nil commencing @ 1% over £175k
TOTAL 112,5000  
 
Estimated Rental Income
Rent per week £140  
Rent per month £607  
Rent per year £7,280  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,256 @ 15% plus VAT
Ground Rent £40 per annum
Maintenance Charge £714 per annum
TOTAL £2,010 per annum
 
Summary
Gross Rent Per Year £7,280  
Annual Operating Costs £2,010  
Nett Cash In Hand pa £5,270  
Nett Cash In Hand pm £439  
 
Mortgage - Assuming 70% Loan £78,750  
 
Total Cash Outlay £36,450  
 
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