ONE BEDROOM FIRST FLOOR FLAT WITH DECKED ROOF TERRACE
£137,500 LEASEHOLD
A bright one bedroom first floor flat with a decked roof terrace. This recently converted property has been refurbished to a high standard. Situated in a prime central location - perfect for commuters - an ideal investment.
Initial outlay required: £37,220
SOLD
Location: Richmond Place is situated in an extremely convenient location in central Brighton and yet from inside the property nobody would guess that much of what one of Britain’s liveliest cities has to offer is just a short walk away. Richmond Place is directly opposite the exotic Royal Pavilion – seaside fantasy palace of King George IV. Brighton Station, with its commuter links to London Victoria, Kings Cross and London Bridge, is within 10 minutes walk. A modern shopping mall and a quirky mix of hundreds of unique specialist shops are all within easy reach, as is the seafront with its lively promenades. An excellent bus service provides easy access to most parts of town and beyond.
Description: A light, airy one bedroom flat situated on the first floor of a recently converted period property. Additional benefits include a modern fitted kitchen, gas central heating and a decked rear roof terrace. A perfect flat for commuters.
Approximate Area: 400 square feet
Entrance: Wall mounted electric fuse box, door entry phone receiver.
Lounge: 14'6" x 10' Double radiator, double glazed window to rear, ceiling spotlights.
Recessed Kitchen: 9' 5" x 7' 1" Modern range of wall & base units with roll edged work surfaces over, inset stainless steel sink unit with mixer taps, inset 4 ring hob with electric oven under & stainless steel cooker hood over, integrated washing machine, integrated dishwasher, integrated fridge/freezer. Double radiator, wall mounted 'Ideal' combination boiler, double glazed window to side, double doors to roof terrace.
Bedroom: 14'1" into bay x 10' Double radiator, sash bay window to front with secondary glazing, ceiling spotlights.
En Suite Shower Room: Modern fitted shower room with tiled shower cubicle with sliding door, low level - dual flush WC, pedestal wash hand basin, chrome ladder style heated towel rail, fully tiled walls.
Outside: Decked roof terrace to the rear.
Outgoings:
Lease: New 125 year lease
Maintenance: £600 pa - tbc
Ground Rent: £125 pa
Recommended Update: 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: Flat 2, 19 RICHMOND PLACE, BRIGHTON BN2 9NA
Financial Forecast Guide
| Asking Price | £137,500 | |
| Set Up Costs | ||
| Solicitors Fees | £645 | incl VAT excl disbursements |
| Research Fee | £1,500 | |
| Purchase Costs | ||
| Assumed Purchase Price | £137,500 | |
| Estimated Update | £700 | incl 10% supervision fee |
| Stamp Duty | nil | |
| TOTAL | £138,200 | |
| Estimated Rental Income | ||
| Rent per week | £174 | |
| Rent per month | £754 | |
| Rent per year | £9,048 | |
| Owner's Annual Operating Costs | ||
| Rental Agent's Fees | £1,561 | @ 15% plus VAT |
| Ground Rent | £125 | per annum |
| Maintenance Charge | £600 | per annum |
| TOTAL | £2,286 | per annum |
| Summary | ||
| Gross Rent Per Year | £9,048 | |
| Annual Operating Costs | £2,286 | |
| Nett Cash In Hand pa | £6,762 | |
| Nett Cash In Hand pm | £564 | |
| Mortgage - Assuming 75% Loan | £103,125 | |
| Total Cash Outlay | £37,220 | |