26 Lansdowne Street, Hove

26lansdownestsmall.jpgONE BEDROOM GROUND FLOOR FLAT WITH PATIO GARDEN
£164,950

A one double bedroom converted flat on the ground floor of a period building.  Situated in a popular, central location in Hove, this property is particularly convenient for all local amenities and transport links.  An ideal rental property.
Initial outlay required: £47,783

SOLD

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

Description: A one double bedroom ground floor period flat which benefits from a delightful patio garden and gas central heating.

Approximate Area: 400 square feet

Entrance: Communal entrance on ground floor.  Flat door leading into entrance hallway with security entryphone, room thermostat control and radiator.

Lounge: 15' x 13'1  Bay to front with sash cord windows enjoying a westerly aspect.  Beautiful cast iron fireplace with gas coal effect fire with tiled inset and slate plinth with mantel over.  Fitted shelves to either side of chimney breast.  Telephone point, television point.

Bedroom: 12'3 x 9'9  Sash cord window to rear.  Built-in cupboards to one side of chimney breast with storage above.  Built-in wardrobe to other side with storage above.  Dimmer switch.

Shower Room:  Fully tiled.  Corner shower cubicle with Triton chrome shower fittings and curved glass sliding shower doors.  Vanity unit with inset wash basin and chrome mixer tap.  Low level wc.  Frosted glass window to side.

Kitchen:  9' 7'4  A bright double aspect room with windows to side and rear.  Stainless steel single drainer sink unit with chrome mixer tap set in rolled edge worktop with cupboard under.  Space and plumbing for washing machine.  Four burner gas hob with electric oven below and extractor hood above.  Further worktops with cupboards under, space beneath for fridge.  Range of glass fronted wall cabinets.  Tiled walls.  Telephone point.  Glazed door giving access to rear garden.

Outside:  Rear Garden  17'4 x 11'8  Predominently paved with shingle flower borders to two sides.  Brick wall enclosed to three sides.  Designed for easy maintenance.

Outgoings:

Lease:  75 years remaining
Maintenance:  £400 per annum
Ground Rent:  £25 per annum

Recommended Update:  Redecoration, new carpets, new blinds, new appliances and oven

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: 26 LANSDOWNE STREET, HOVE
Financial Forecast Guide

Asking Price £164,950  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £164,950  
Estimated Update £4,400 incl 10% supervision fee
Stamp Duty nil commencing @ 1% over £175k
TOTAL £169,350  
 
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 £25 per annum
Maintenance Charge £400 per annum
TOTAL £1,771 per annum
 
Summary
Gross Rent Per Year £7,800  
Annual Operating Costs £1,771  
Nett Cash In Hand pa £6,030  
Nett Cash In Hand pm £502  
 
Mortgage - Assuming 75% Loan £123,713  
 
Total Cash Outlay £47,783