28 Hovedene, 95 Cromwell Road, Hove, BN3 3EH

TWO BEDROOM GROUND FLOOR FLAT WITH PRIVATE GARDEN OVERLOOKING SUSSEX COUNTY CRICKET GROUND  
£299,950  SHARE OF FREEHOLD   hovedene1-small.jpg

Very spacious South facing modern 2 bedroom ground floor flat with private garden overlooking Sussex County Cricket ground.  Modern gas central heating. Underground allocated parking.  Well managed building.
Initial outlay required: £101,129 

Location: The property is situated in a well established popular residential area within half a mile of central Hove within close proximity of local shopping facilities, bars and restaurants.  The vibrant seafront is also just a 10 minute walk away.  Hove's mainline railway station provides fast, frequent links to Gatwick Airport and London Victoria and local bus services providing quick regular services to Brighton city centre and beyond are just a couple of minutes walk away.

Description: A spacious two bedroom, ground floor purpose built flat with South facing garden overlooking Sussex County Cricket Club ground.  The property benefits from double glazing, modern gas central heating, allocated underground car parking, resident caretaker.    A sound investment opportunity, with the scope for strong equity growth in the coming years.

Approximate Area: 800+ square feet

Large Entrance Hall: Door entryphone, 3 good sized recessed storage cupboards .

Lounge: 20'6 x 15' South aspect overlooking garden, two double radiators with ornate boxing, TV point, BT point, double glazed full width sliding doors to patio and garden.

Kitchen:  13'4 x7' South aspect, modern kitchen comprising white fitted units some with glass doors, roll edge work surfaces, inset stainless steel single drainer and sink unit with mixer tap.  Gas gob with extractor over, electric fan oven below.  Space & plumbing for washing machine, space for under counter fridge and under counter freezer.  Modern wall mounted gas combi boiler.  White tiles with trim, terrocotta paint work with matching flooring.

Bedroom 1: 16'2 x 11' Double radiator, range of floor to ceiling wardrobes, overlooks sunken garden to front of building.  

Bedroom 2: 10'2 x 11' Double radiator, double wardrobe, overlooks sunken garden to front of building

Bathroom:  White bathroom suite, with electric shower over bath, fully tiled 

Outside: 68' garden with lawn, patio and flower garden, directly overlooking the circket ground. 

Parking:  Underground car parking space No 5, and storage locker No 18.

Outgoings:

Lease: Share of freehold
Maintenance: £1,355.40 pa + (£1,041.62 for major works for 2010)
Ground Rent: £55pa

Recommended Update: None 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: 28 HOVEDENE CROMWELL ROAD HOVE BN3 3EH
Financial Forecast Guide

Asking Price £299,950  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £299,950  
Estimated Update nil incl 10% supervision fee
Stamp Duty £8,999 commencing @ 3% over £250k
TOTAL £308,949  
 
Estimated Rental Income
Rent per week £202  
Rent per month £875  Current rent
Rent per year £10,500  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,851 @ 15% plus VAT
Ground Rent £55 per annum
Maintenance Charge £1,355 per annum
TOTAL £3,261 per annum
 
Summary
Gross Rent Per Year £10,500  
Annual Operating Costs £3,261  
Nett Cash In Hand pa £7,242  
Nett Cash In Hand pm £603  
 
Mortgage - Assuming 70% Loan £209,985  
 
Total Cash Outlay £101,129