Flat 5, 79 Montpelier Road, Brighton BN1 3BD

79montpelierroadsmall.jpgCENTRAL ONE BEDROOM REGENCY FLAT
£152,500 LEASEHOLD

A one bedroom flat forming part of a Grade II Listed, bow fronted Regency building.  This well maintained property is situated in a popular, central location - an ideal investment opportunity.
Initial outlay required: £41,970

SOLD

Location: A Regency property ideally situated in a central but quiet location.  The bustling city centre with its excellent shopping facilities and cosmopolitan bars and restaurants is just a short stroll away, as is Brighton's vibrant seafront.  Brighton Station is within easy reach and the local buses provide regular services throughout Brighton and Hove and beyond.

Description: A delightful top floor one bedroom flat.  This split level property forms part of a Grade II Listed, bow fronted, Regency building.

Approximate Area:  350 square feet

Entrance: Stairs to second floor.  Flat door to lobby and stairs to half landing with multi paned sash window, large built in storage cupboards and stairs to landing/study area with wooden balustrade, access to loft space, fire alarm and door entry phone.

Living Area:  16'3 x 12'6 Comprising lounge area and open plan kitchen.

Lounge Area:  Double glazed wooden casement windows giving access to small roof area.  Window seat.  Wall mounted electric flat panel heater.

Kitchen Area:  Modern white fronted kitchen comprising high level cupboards, black slate effect work surface with cupboards and drawers beneath.  Work surface down lighters, four ring electric induction hob, stainless steel fan assisted oven, chimney extractor hood.  Space and plumbing for washing machine, one and a half bowl sink and drainer with chrome mixer tap.  Integrated fridge and microwave oven, spotlights, heat sensor.  Wood effect flooring, plinth heater, cupboard housing hot water tank and electric fuse box.  Access to loft space.

Bedroom: 11'4 x 9'6  Multi paned sash window giving roof top city views towards the sea.  Wall mounted electric heater. smoke alarm.

Bathroom: 7'2 x 4'7  White suite comprising wc, pedestal wash basin, bath with chrome mixer tap and shower attachment plus fitted electric shower.  Part tiled walls, chrome towel warmer, extractor fan.

Outgoings:

Lease:  85 years remaining
Maintenance: £700 per annum
Ground Rent: £50 per annum

Recommended Update: New blinds, new fridge and washing machine, some redecoration

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 5, 79 MONTPELIER ROAD, BRIGHTON BN1 3BD
Financial Forecast Guide

Asking Price £152,500  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £152,500  
Estimated Update £1,700 incl 10% supervision fee
Stamp Duty nil commencing @ 1% over £175k
TOTAL £154,200  
 
Estimated Rental Income
Rent per week £150  
Rent per month £650  
Rent per year £7,800  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,346 @ 15% plus VAT
Ground Rent £50 per annum
Maintenance Charge £700 per annum
TOTAL £2,096 per annum
 
Summary
Gross Rent Per Year £7,800  
Annual Operating Costs £2,096  
Nett Cash In Hand pa £5,704  
Nett Cash In Hand pm £475  
 
Mortgage - Assuming 75% Loan £114,375  
 
Total Cash Outlay £41,970