RDA Estates

"experts in residential property investment"

23 Donald Hall Road, Brighton, East Sussex, BN2 5DB

A fine example of a large ex local authority property which rents easily and has low maintenance. This second floor well looked after two bedroom purpose built flat generates a good income. Ideally located next to the main hospital, ensuring a constant source of tenants.

£ 169,950.00
Initial outlay required: £ 55,465.00
Category: Leasehold
Property Type: Two bedrooms or more
Beds: 2
Baths: 1.00
Status: Sold
Outline:
A modernised purpose built flat in a three storey block of 12 flats. Two double bedrooms with modern kitchen & bathroom, gas central heating, double glazing and south facing balcony.

Facilities:
Double Glazing,Gas Fired Central Heating,Shower,Balcony

Location:
Donald Hall Road is on the hill behind the Royal Sussex County Hospital. Kemptown shops and restaurants are a 5-10 minute walk. There is a bus route which runs past the property to the city centre. VIEW MAP STREET VIEW

Nearby:
Shopping Area,Coffee Shop,Beach,Restaurants

Property Details:
Entrance: Store cupboard, entryphone, hatch to loft space.
Lounge: 14' x 12'6 neutral carpets, tiled fireplace, radiator double glazed UPVC door opening to south facing balcony
Kitchen: Modern white fitted base and wall units, oak effect roll top work surfaces, inset stainless steel sink and drainer with mixer tap, 4 ring gas hob with stainless steel extractor hood above and matching stainless steel oven below. High gloss tiling. Free standing washing machine plumbed in and under counter fridge.
Bedroom 1: 9'6 x 12' plus recess, neutral carpets, linen cupboard, recessed wardrobe, radiator.
Bedroom 2: 11'9 x 9 neutral carpets, radiator
Bathroom: Modern white suite, comprising panelled bath with electric shower over, pedestal wash hand basin, low level WC, doubled glazed frosted window, tiled walls (white) with attractive border.
Outside: Rear covered balcony with storage locker.
Lease: 125 years from 1986


A Financial Forecast highlighting costs and projected income is included for each property. This data enables clients to make informed decisions before proceeding with a purchase. Please see below for Financial Forecast Guide.

Asking Price £169,950  
 
Set Up Costs
Solicitors Fees £780 incl VAT excl disbursements
Research Fee £2,000  
 
Purchase Costs
Assumed Purchase Price £169,950  
Estimated Update £0 incl 10% supervision fee
Stamp Duty 1,700 commencing @ 1% over £125k
TOTAL £171,650  
 
Estimated Rental Income
Rent per week £198  
Rent per month £860  
Rent per year £10,320  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,780 @ 15% plus VAT
Ground Rent £10 per annum
Maintenance Charge £680 per annum
TOTAL £2,470 per annum
 
Summary
Gross Rent Per Year £10,320  
Annual Operating Costs £2,470  
Nett Cash In Hand pa £7,850  
Nett Cash In Hand pm £654  
 
Mortgage - Assuming 70% Loan £118,965  
 
Total Cash Outlay £55,465  

ASKING PRICE
The price of the property as advertised.

SET UP COSTS
These are costs associated with the purchase of the property.

The Solicitors Fees are the costs for undertaking the legal work. This fee does not include the disbursements. The RDA Research Fee of £2,000 covers our expenses in relation to sourcing and identifying the property as an ideal investment in terms of asset growth and rental potential. It also includes our assistance with the purchase process. RDA monitors and progress chases property purchases and assists with all/any matters arising on behalf of our clients.

The fee is payable in two parts. £1,000 is due upon a client’s decision to purchase. This initial payment is not refundable but can be carried forward to an alternative purchase should the sale fall through. The balance of £1,000 is payable upon exchange of contracts of sale. When a mortgage is required the cost of the lender's arrangement fee and survey also need to be factored in.

PURCHASE COSTS
These are the direct costs of purchasing the property. Assumed Purchase Price is the price which RDA anticipates being able to negotiate on behalf of the client. Estimated Update is based on RDA's recommendations for refurbishment. Stamp Duty Land Tax is the tax payable to the UK Government when you buy property.

OWNER'S ANNUAL OPERATING COSTS
Rental Agent's Fees are deducted monthly by the rental agent. Ground Rent is an annual fee charged by the Freeholder of a Leasehold property.

Maintenance Charges are a share of the costs of the maintenance of the building and the building insurance but do not include occasional internal maintenance costs.

SUMMARY
An overview of the annual income and expenditure.

TOTAL CASH OUTLAY
Calculated as 30% of the Assumed Purchase Price plus Estimated Update, Stamp Duty and Set Up Costs.

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