ONE BEDROOM FIRST FLOOR PERIOD CONVERTED FLAT
£172,500
Recently refurbished to a high standard, this apartment is located in the very popular Seven Dials district of Brighton. An ideal buy to let investment property.
Initial outlay required: £56,620
Location: The popular Seven Dials district of Brighton offers a wide range of restaurants, bars and shops. The location is ideal for commuters as Brighton mainline train station is just a quarter of a mile away.
Description: The accommodation consists of and open plan contemporary lounge/kitchen, a double bedroom and a modern bathroom. The hallway is a good size - ideal for a compact office area or a small dining suite.
Approximate Area: 350 square feet
Entrance: Communal entrance with stairs rising to first floor.
Open Plan Lounge/Kitchen 14'5 x 13'6
Lounge Area: Exposed varnished wooden floorboards with high skirting boards. Sash window to front. Radiator, picture rail.
Kitchen Area: Range of contemporary base and eye level units with contrasting work surface over. Feature lighting to underside of wall mounted units. Inset stainless steel sink with drainer and mixer tap. Inset stainless steel four ring hot plate with concealed extractor over. Integrated stainless steel oven and grill. Space and plumbing for washing machine, space for fridge. Wall mounted boiler. Tiled flooring.
Bedroom: 12'11 x 8'3 Neutral carpet, high skirting boards. Sash window to front. Radiator, picture rail.
Bathroom:Three piece modern suite consisting of a panel enclosed bath with chrome mixer tap and hand held shower attachment with wall mounted over sized chrome shower head and glass shower screen, close coupled dual flush wc and wall mounted pedestal wash hand basin. Part tiled walls with tiled effect laminate floor and high skirting boards. Obscure window to the side, radiator.
Outgoings:
Lease: 125 years
Maintenance: £763 pa
Ground Rent: £100 pa
Recommended Update: New appliances and carpet for lounge area.
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: FLAT 7, 3 BELMONT, BRIGHTON BN1 3TF
Financial Forecast Guide
| Asking Price | £172,500 | |
| Set Up Costs | ||
| Solicitors Fees | £645 | incl VAT excl disbursements |
| Research Fee | £1,500 | |
| Purchase Costs | ||
| Assumed Purchase Price | £172,500 | |
| Estimated Update | £1,000 | incl 10% supervision fee |
| Stamp Duty | £1,725 | commencing @ 1% over £125k |
| TOTAL | £175,225 | |
| Estimated Rental Income | ||
| Rent per week | £175 | |
| Rent per month | £758 | |
| Rent per year | £9,100 | |
| Owner's Annual Operating Costs | ||
| Rental Agent's Fees | £1,570 | @ 15% plus VAT |
| Ground Rent | £100 | per annum |
| Maintenance Charge | £763 | per annum |
| TOTAL | £2,433 | per annum |
| Summary | ||
| Gross Rent Per Year | £9,100 | |
| Annual Operating Costs | £2,433 | |
| Nett Cash In Hand pa | £6,667 | |
| Nett Cash In Hand pm | £556 | |
| Mortgage - Assuming 70% Loan | £120,750 | |
| Total Cash Outlay | £56,620 | |