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11 Kinsale Court, 50 Palmeira Avenue, Hove, BN3 3GF Print E-mail

kinsalecourtsmallTWO BEDROOM GROUND FLOOR PURPOSE BUILT FLAT
£189,950 LEASEHOLD

A purpose built, two double bedroom flat with attractive communal gardens for the use of residents.  Situated in a popular, central Hove location, this property is particularly convenient for all local amenities and transport links - ideal for rental. 
Initial outlay required: £67,085

SOLD

 

Location: A central but quiet location.  The bustling city centre with its excellent shopping facilities cosmopolitan bars and restaurants is within walking distance.  Sussex County Cricket Club and the delightful seafront are also close by.   The local buses provide regular services throughout Brighton and Hove and there are fast, regular rail services from Hove Station.. 

Description:  A well proportioned flat situated on the ground floor of a purpose built block.  This property is in a very convenient location and further benefits from double glazing and communal gardens.

Approximate Area: 550 square feet 

Entrance: Communal entrance with door to entrance hallway.  Doors to all rooms, two large built in store cupboards and door entry phone receiver.

Lounge:14'6 x 14'10 into bay.  Dual aspect double glazed windows, radiator, coved ceiling.

Kitchen:10' 10 x 6'  White kitchen comprising range of wall, base and drawer units with rolled edge work surfaces over.  Inset stainless steel sink and drainer with double glazed window over.  Space for appliances, part tiled wall, tiled floor.

Bedroom:13'4 x 11'4 Double glazed window, coved ceiling radiator..

Bedroom:11'5 x 7'8 Double glazed window, coved ceiling..

Bathroom: White suite, comprising panelled bath with shower over, low level close coupled wc with dual flush, wash hand basin with cupboard under.  Tiled walls and floor.  Heated towel rail/radiator.

Outgoings:

Lease: 999 Year Lease
Maintenance:£1200 per annum
Ground Rent:£38 per annum

Recommended Update: New kitchen tiles, new kitchen appliances, redecoration, new carpets, new blinds.

A professional electrical survey may reveal work not covered by the update. It is recommended that an electrical survey is carried in additon 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: 11 KINSALE COURT, 50 PALMEIRA, HOVE BN3 3GF
Financial Forecast Guide

Asking Price £189,950  
 
Set Up Costs
Solicitors Fees £700 incl VAT excl disbursements
Research Fee £2,000  
 
Purchase Costs
Assumed Purchase Price £189,950  
Estimated Update £5,500 incl 10% supervision fee
Stamp Duty 1,900 commencing @ 1% over £125k
TOTAL £197,350  
 
Estimated Rental Income
Rent per week £185  
Rent per month £801  
Rent per year £9,620  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,659 @ 15% plus VAT
Ground Rent £38 per annum
Maintenance Charge £1,200 per annum
TOTAL £2,897 per annum
 
Summary
Gross Rent Per Year £9,620  
Annual Operating Costs £2,897  
Nett Cash In Hand pa £6,722  
Nett Cash In Hand pm £560  
 
Mortgage - Assuming 70% Loan £132,965  
 
Total Cash Outlay £67,085  
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