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3 Amber Court Salisbury Road Hove BN3 3AA Print E-mail

amberc-small.jpgTWO BEDROOM GROUND FLOOR PURPOSE BUILT FLAT
£175,000  LEASEHOLD

Good sized purposed built two bedroom flat a short walk from the floral clock in Palmeira Square. Fast and frequent bus service to the city centre and a couple of minutes walk to the beach.  An ideal rental property.
Initial outlay required: £60,350
SOLD

Location:  Ideally situated in a residential yet convenient area of Hove, moments from Sussex County Cricket Ground.  Amber Court is just a short walk from both a wide selection of shops and restaurants and the lawns, promenade and bathing beaches of Hove seafront.  Hove Station is within walking distance with regular bus services to the city centre and beyond.

Description:  A West facing, purpose built ground floor flat.  This good size property has two double bedrooms and benefits from gas central heating.

Approximate Area: 600 sq ft

Entrance: Entryphone, radiator, wall cupboard.

Lounge:  16'7 x 14'1  West facing, Large picture window, radiator, TV aerial point.

Kitchen: 11'7 x 7'7  Range of modern base units comprising cupboards and drawers with matching wall units in beech effect, grey roll edge worktop with inset stainless steel sink and single drainer with mixer tap, inset white gas hob with matching white electric oven below and extractor above.  Space and plumbing for washing machine & fridge. Part tiled walls.  Radiator  Wood effect vinyl flooring.

Bedroom One:  11'7 x 13'10  Full height mirrored wardrobes, double glazed window, radiator.

Bedroom Two: 8'10 8'6  Double glazed windows, radiator.

Bathroom:  Modern white bathroom room suite comprising bath with shower over (water heated by combi boiler), pedestal wash basin with mirror over and light, low level wc, radiator.

Outgoings:

Lease:  125 years from September 1971
Maintenance:  £736 per annum
Ground Rent:  £30 per annum

Recommended Update: Redecoration and new carpets

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: 3 AMBER COURT SALISBURY ROAD HOVE BN3 3AA
Financial Forecast Guide

Asking Price £175,000  
 
Set Up Costs
Solicitors Fees £700 incl VAT excl disbursements
Research Fee £2,000  
 
Purchase Costs
Assumed Purchase Price £175,000  
Estimated Update £3,400 incl 10% supervision fee
Stamp Duty £1,750 commencing @ 1% over £175k
TOTAL £180,150  
 
Estimated Rental Income
Rent per week £193  
Rent per month £840  
Rent per year £10,080  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,814 @ 15% plus VAT
Ground Rent £30 per annum
Maintenance Charge £737 per annum
TOTAL £2,581 per annum
 
Summary
Gross Rent Per Year £10,080  
Annual Operating Costs £2,581  
Nett Cash In Hand pa £7,498  
Nett Cash In Hand pm £625  
 
Mortgage - Assuming 70% Loan £122,500  
 
Total Cash Outlay £60,350  
 
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