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25 Lansdowne Place Hove Print E-mail

25lansdowneplacesmall.jpgTWO BEDROOM CONVERTED FLAT CLOSE TO HOVE SEAFRONT
£222,500

A well presented two bedroom maisonette situated in an attractive Grade II listed building adjacent to Hove seafront.  This property is conveniently located for all local amenities and transport links.  An ideal investment opportunity.
Initial outlay required: £74,760

SOLD

Location: Lansdowne Place is a central but quiet location.  The bustling city centre with its excellent shopping facilities, bars and restaurants is just a short stroll away, as are the delightful lawns and promenades of Hove seafront.  Brighton station is within easy reach and local buses provide regular services throughout the city and beyond.

Description: A two bedroom period property close to Hove seafront.  This well presented flat benefits from gas central heating.

Approximate Area:  600 square feet

Entrance:  Communal entrance leading to stairs rising to first floor.  Personal front door leading to reception hallway with wooden floor, entry phone receiver and coved ceiling.

Utility Room:  Large sash window to side.  Belfast sink with cupboards below and wooden work surface alongside with tiled splash back.  Space and plumbing for washing machine, space for freezer, wall mounted boiler.  Wooden floor.

Lounge: 23'2 narrowing to 16'4 x 12'2  Westerly aspect sash window to rear with metal platform ideal for window boxes etc.  Coved ceiling, single radiator.  Archway into kitchen area.

Kitchen: 7'7 x 5'7  Range of wall units, range of base units with wooden edged working surfaces over, tiled splash backs.  Built in oven and hob with extractor over.  Single drainer sink, built in fridge, breakfast bar peninsular.  Sash window to side.  Double radiator.

Staircase:  Rising to second floor and upper landing with storage area.  Stairs, upper landing and both bedrooms all have the same high quality carpet.

Bedroom One: 12'3 x 8'6 extending to 11'8  Sash window to rear with rooftop westerly views.  Walk in wardrobe with hanging rails and ample storage.  Radiator, coved ceiling.

Bedroom Two: 10'6 x 7'9  Sash window to side.  Radiator.

Bathroom: White suite comprising of a panelled bath, pedestal hand basin and low level wc.  Sash window to side, tiled walls, double radiator.

Outgoings:

Lease: 77 years remaining
Maintenance: £960 per annum
Ground Rent:£25 per annum

Recommended Update: New lounge carpet, blinds, new oven and hob, new kitchen mixer tap, washing machine, radiator valves.

A professional electrical survey may reveal work not covered by the update.

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: 25 Lansdowne Place Hove
Financial Forecast Guide

Asking Price £222,500  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £222,500  
Estimated Update £3,500 incl 10% supervision fee
Stamp Duty £2,230 commencing @ 1% over £175k
TOTAL £228,680  
 
Estimated Rental Income
Rent per week £195  
Rent per month £845  
Rent per year £10,140  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,749 @ 15% plus VAT
Ground Rent £25 per annum
Maintenance Charge £960 per annum
TOTAL £2,734 per annum
 
Summary
Gross Rent Per Year £10,140  
Annual Operating Costs £2,734  
Nett Cash In Hand pa £7,406  
Nett Cash In Hand pm £617  
 
Mortgage - Assuming 70% Loan £156,065  
 
Total Cash Outlay £74,760  
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