RDA Estates

"experts in residential property investment"

14 Osprey House, Sillwood Place, Brighton, East Sussex, BN1 2ND

City centre location close to sea with secure underground car parking and West facing balcony. An excellent long term investment in a highly sought after development.

£ 172,000.00
Initial outlay required: £ 56,100.00
Category: Share of Freehold
Property Type: One Bedroom
Beds: 1
Baths: 1.00
Status: Sold
Outline:
A modern, popular city centre apartment. The property benefits from a sunny balcony, communal heating & hot water, secure underground parking and modern lifts as well as a share of the freehold. The building & grounds are well managed. Excellent long term prospects for capital appreciation.

Facilities:
Double Glazing,Garden,Gas Fired Central Heating,Parking,Shower

Location:
Situated in a very central position close to Brighton seafront. The shops and restaurants on Western Road and the abundant recreational facilities on the seafront are just a short walk away. Frequent bus services provide regular access to Brighton Station, all areas of the city and beyond.

Nearby:
Shopping Area,Town Centre,Coach Station,Coffee Shop,Beach,Cinema,Restaurants

Property Details:
Entrance: Door to the lounge, bedroom and bathroom, two built in cupboards.
Lounge: 11'4 x 8'9 A bright westerly aspect room with large window and sliding door to the west facing balcony, radiator, doorway to kitchen area.
Kitchen: 8'2 x 5'11 A modern kitchen recess off the lounge comprising wall and base units with roll edge worksurfaces over. Inset stainless steel sink and drainer, inset four ring hob with oven underneath and cooker hood overhead, space for appliances, part tiled walls and tiled floor.
Bedroom: 11'3 x 8'11 Double bedroom with great views and sea glimpses, radiator.
Bathroom: 6'8 x 5'8 White suite comprising bath with shower attachment, pedestal wash hand basin, low level W.C, tiled walls and floor, upright heated towel rail.
Outside: West Facing Balcony - Access off the lounge with impressive roof top views and sea glimpses. Secure underground parking.
Lease: 999 years from 1983


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 £172,000  
 
Set Up Costs
Solicitors Fees £780 incl VAT excl disbursements
Research Fee £2,000  
 
Purchase Costs
Assumed Purchase Price £172,000  
Estimated Update £0  
Stamp Duty £1,720 commencing @ 1% over £125k
TOTAL £173,720  
 
Estimated Rental Income
Rent per week £170  
Rent per month £735  
Rent per year £8,820  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,521 @ 15% plus VAT
Ground Rent £0 per annum
Maintenance Charge £1,856 per annum
TOTAL £3,377 per annum
 
Summary
Gross Rent Per Year £8,820  
Annual Operating Costs £3,377  
Nett Cash In Hand pa £5,443  
Nett Cash In Hand pm £454  
 
Mortgage - Assuming 70% Loan £120,400  
 
Total Cash Outlay £56,100  

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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