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Flat 1 Palmeira House Hove Print E-mail

1palmeirahousesmall.jpgTWO BEDROOM PURPOSE BUILT FLAT
£195,000 LEASEHOLD

An immaculately presented, purpose built apartment with two double bedrooms.  Situated in a sought after central location this property is an investment opportunity not to be missed.
Initial outlay required: £62,595

SOLD 

Location:A popular, quiet yet central location.  The excellent shopping facilities, cosmopolitan bars and restaurants of the bustling city centre are all within comfortable walking distance.  Sussex County Cricket Club and Hove seafront are also close by.  There are fast, regular rail services to London & Gatwick Airport from Hove Station and local buses provide regular services throughout the city and beyond.

Description: An immaculately presented, well proportioned, purpose built, two double bedroom apartment located in a popular city centre location.  This property benefits from double glazing, gas central heating, a modern kitchen and a modern, white bathroom.

Approximate Area: 550 square feet

Entrance:Communal entrance with stairs and lift to the lower ground floor.  Personal front door leading to entrance hall with coved and textured ceiling, spotlighting and wall lighting and thermostat control.  Large built in fitted cupboard with sliding doors and overhead storage.  Laminate wood flooring and radiator.

Lounge:18' x 10  Coved and textured ceiling, double glazed window with views of communal garden, laminate wood flooring.  Range of wall lighting, central heating radiator.

Kitchen: 11'1 x 6'8  Modern fitted kitchen comprising matching range of wall and base units with roll top work surfaces.  One and a half bowl stainless steel sink and drainer unit with mixer tap, integrated electric oven with four ring ceramic hob with stainless steel cooker hood, light and extractor above.  Integrated washing machine and integrated fridge.  Tiled flooring, part tiled walls, double glazed window, spotlighting.

Bedroom One:  14'9 x 10  Double glazed window, central heating radiator and neutral carpet.

Bedroom Two:  13' x 7'6  Double glazed window, central heating radiator and laminate wood flooring.

Bathroom:  Modern white matching bathroom suite comprising panelled enclosed bath with Mira power shower, pedestal wash basin and low level wc.  Heated towel rail, double glazed window.

Outgoings:

Lease: 124 years remaining
Maintenance:£780 per annum
Ground Rent:£60 per annum

Recommended Update: No update required

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: 1 PALMEIRA HOUSE, PALMEIRA AVENUE, HOVE BN3 3GF
Financial Forecast Guide

Asking Price £195,000  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £195,000  
Estimated Update NIL
Stamp Duty £1,950 commencing @ 1% over £125k
TOTAL £196,950  
 
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 £780 per annum
TOTAL £2,598 per annum
 
Summary
Gross Rent Per Year £10,192  
Annual Operating Costs £2,598  
Nett Cash In Hand pa £7,594  
Nett Cash In Hand pm £633  
 
Mortgage - Assuming 70% Loan £136,500  
 
Total Cash Outlay £62,595  
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