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26 Prestonville Road Brighton BN1 3TL Print E-mail

26prestonvillesmall.jpgTWO BEDROOM MAISONETTE
£215,000 LEASEHOLD

A very bright, well proportioned two double bedroom maisonette situated in a perfect location for rental.
Initial outlay required: £70,295

Location:  This period property is situated in a very convenient, much sought after location and further benefits from views across Brighton to the South Downs.  A great selection of restaurants, bars, cafes and shops are situated nearby in the ever popular locality of Seven Dials.  Brighton city centre, Brighton Station and the seafront are also easily accessible.  The area is well served by regular buses to all areas of the city and beyond.

Description:  A bright, sunny, well proportioned maisonette with two double bedrooms.  This property occupies the first and top floors of a period building.  This well maintained apartment requires minimal refurbishment.

Approximate Area: 500 square feet

Entrance: Communal entrance leading to personal front door.  Stairs rising to first floor and hallway with entryphone, gas central heating radiator and East facing sash window.

Lounge: 13' x 10'11  Double aspect sash windows, gas central heating radiator, neutral carpet.

Kitchen: 11'8 x 5'1  Single drainer sink unit, range of matching eye level and base units, wooden work surface.  Electric oven with gas hob and extractor fan above.  Space and plumbing for washing machine, space for fridge freezer.  Sash window.

Bedroom Two:  9'10 x 9'7  Double aspect sash windows, gas central heating radiator.  Neutral carpet, large built in wardrobe.

Stairs to Top Floor 

Bedroom One:  10'7 x 10'6  Double aspect sash windows, gas central heating radiator.  Neutral carpet.  Built in cupboard housing new Worcester combination boiler, large built in wardrobes.

Bathroom:  9'2 x 6'6  Three piece white suite comprising bath with electric shower, low level wc and pedestal hand basin.  Gas central heating radiator, cupboard with access to storage in the eaves.

Outgoings:

Lease: 100 years remaining
Maintenance:£1,071 per annum
Ground Rent:£60 per annum

Recommended Update: New fridge freezer, washing machine and blinds

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: 26 PRESTONVILLE ROAD, BRIGHTON BN1 3TL
Financial Forecast Guide

Asking Price £215,000  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £215,000  
Estimated Update £1,500 incl 10% supervision fee
Stamp Duty £2,150 commencing @ 1% over £175k
TOTAL £218,650  
 
Estimated Rental Income
Rent per week £196  
Rent per month £849  
Rent per year £10,192  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,758 @ 15% plus VAT
Ground Rent £60 per annum
Maintenance Charge £1,071 per annum
TOTAL £2,889 per annum
 
Summary
Gross Rent Per Year £10,192  
Annual Operating Costs £2,889  
Nett Cash In Hand pa £7,303  
Nett Cash In Hand pm £609  
 
Mortgage - Assuming 70% Loan £150,500  
 
Total Cash Outlay £70,295  
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