RDA Estates

"experts in residential property investment"

Flat 4, 43 Grand Parade, Brighton, Brighton, East Sussex, East Sussex, BN2 9QA

A bright, spacious and beautifully decorated top floor one bedroom flat located right in the heart of the city, with breath-taking west-facing views over the very centre of Brighton. The property is just minutes away from Brighton beach, Brighton Pier, Brighton Pavilion and Pavilion Gardens, as well as the many and varied boutique shops and cafes located along St James's Street and all around Grand Parade. The famous Brighton arches are within minutes meaning so too are the many galleries, cafes, bars and independent shops that populate them. The property is within five minutes walk from Brighton Railway Station, meaning the property is perfect for commuters, the North Lanes, perfect for shoppers, and the Theatre Royal, perfect for culture lovers. The west-facing views from the lounge, over the lively, popular Victoria Gardens, give the occupier a beautiful picture of Brighton life night and day. Brighton University's newly-built Art College is moments away, alongside City College and numerous other English and foreign-language educational establishments, giving immediate and widespread appeal to any tenants considering furthering their studies. The property is neutrally decorated throughout, in excellent condition and comes with a brand new lease.

£ 189,950.00
Category: Leasehold
Property Type: One Bedroom
Beds: 1
Baths: 1.00
Status: Sold
Facilities:
Gas Fired Central Heating,Sea Views,Shower

Nearby:
Shopping Area,Town Centre,Train Station,Coach Station,Coffee Shop,Beach,Cinema,Park,School,University,Restaurants

Property Details:
Hallway:

Entrance hall with large window above it's own stairway, leading to built in storage cupboard, hatch to loft, entryphone system.

Lounge / Dining:

16'9" x 14'6"  Living room with large, period appropriate west facing bay window, feature fireplace, open plan kitchen, a range of eye level and floor cupboards with work surfaces over. Stainless steel sink, built in oven with a gas hob and extractor hood, part tiled walls. Gas fired radiator.

Bedroom:

9'6" x 9'6"   Double bedroom with large east-facing sash window, a storage cupboard housing boiler, radiator.

Bathroom:

Bathroom with a modern suite, bath with mixer taps and shower attachment, pedestal washbasin, low level WC, part tiled walls. Radiator.

Lease:

The property will have a newly-extended lease with over 150 years remaining.


A bright, spacious and beautifully decorated top floor one bedroom flat located right in the heart of the city, with breath-taking west-facing views over the very centre of Brighton.

The property is just minutes away from Brighton beach, Brighton Pier, Brighton Pavilion and Pavilion Gardens, as well as the many and varied boutique shops and cafes located along St James's Street and all around Grand Parade. The famous Brighton arches are within minutes, so too are the many galleries, cafes, bars and independent shops that populate them.

The property is within five minutes walk from Brighton Railway Station, meaning the property is perfect for commuters, the North Lanes, perfect for shoppers, and the Theatre Royal, perfect for culture lovers. The west-facing views from the lounge, over the lively, popular Victoria Gardens, give the occupier a beautiful picture of Brighton life night and day.

Brighton University's newly-built Art College is moments away, alongside City College and numerous other English and foreign-language educational establishments, giving immediate and widespread appeal to any tenants considering furthering their studies.

The property is neutrally decorated throughout, in excellent condition and comes with a brand new lease.

 

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 £189,950  
 
Set Up Costs
Solicitors Fees        £780 incl VAT excl disbursements
Research Fee     £2,000  excl. VAT
 
Purchase Costs
Assumed Purchase Price £189,950  
Estimated Update            £0 incl 10% supervision fee
Stamp Duty     £1,300 commencing @ 1% over £125k
TOTAL £193,200  
 
Estimated Rental Income
Rent per week        £196  
Rent per month        £850  
Rent per year     £10,200  
 
Owner's Annual Operating Costs
Rental Agent's Fees     £1,800 @ 15% plus VAT
Ground Rent            £200 per annum
Maintenance Charge     £900 per annum
TOTAL     £2,900 per annum
 
Summary
Gross Rent Per Year     £10,200  
Annual Operating Costs     £2,900  
Nett Cash In Hand pa     £7,300  
Nett Cash In Hand pm        £608  
 
Mortgage - Assuming 70% Loan £133,000  
 
Total Cash Outlay   £63,015  

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.

Fields marked * are required
Subject *
Message *
Your Name *
Your E-mail *
Phone
Security Code *
Please insert the validation code below.