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.
| 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. |
| Double Glazing,Garden,Gas Fired Central Heating,Parking,Shower |
| 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. |
| Shopping Area,Town Centre,Coach Station,Coffee Shop,Beach,Cinema,Restaurants |
| 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 |
| This property does not require any update. |
| A professional electrical survey may reveal work not covered by the update. It is recommended that an electrical survey is carried in addition to the valuation survey at a cost of GBP 180.00 (inclusive of VAT). |
| 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. |
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.
