RDA Estates

"experts in residential property investment"

11 Windermere Court, East Drive, Brighton, Brighton, East Sussex, East Sussex, BN2 0BU

Refurbished to an exceptional standard, this beautiful top-floor studio-flat is located on the corner of one of Brighton's best loved parks, Queens Park, and comes with modern double-glazing, a newly fitted modern kitchen, a newly fitted modern bathroom and a share of the freehold.

£ 170,000.00
Category: Share of Freehold
Property Type: Studios
Beds: 1
Baths: 1.00
Status: For Sale
Outline:

Refurbished to an exceptional standard, this beautiful top-floor studio-flat is located on the corner of one of Brighton's best loved parks, Queens Park, and comes with modern double-glazing, a newly fitted modern kitchen, a newly fitted modern bathroom and a share of the freehold.


Facilities:
Double Glazing,Shower

Location:

Located on the corner of the beautiful and well-loved Queens Park, the flat is just minutes away from the hundreds of shops, cafes, bars and restaurants on St James Street, within walking distance of the beach and only a few minutes away from Royal Sussex County Hospital. Queens Park School is within throwing distance.

Very little is out of reach from such a central location yet, by bordering Queens Park, the flat feels secluded, peaceful and out of the way.


Nearby:
Shopping Area,Coffee Shop,Beach,Park,School,University,Restaurants

Property Details:
Hallway:

Double fitted storage cupboard with further cupboards overhead.

Studio Room:

14' x 11'  double-glazed windows, coving, night-storage heater, tv and phone points.

Lounge:

Range of floor and eye level units, modern worktops, stainless steel sink, mixer taps, part-tiled walls, newly fitted oven, hob and extractor fan, newly fitted fridge and blinds.

Bathroom:

Fully tiled, newly fitted bathroom including electric shower, shower screen, basin with mixer taps over, wc and lighted mirror.

Lease:

999 Years from 1978, with a share of the freehold.



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 £170,000  
 
Set Up Costs
Solicitors Fees        £780 incl VAT excl disbursements
Research Fee     £2,000  excl. VAT
 
Purchase Costs
Assumed Purchase Price £170,000  
Estimated Update            £0 incl 10% supervision fee
Stamp Duty   £6,000 commencing @ 3% 
TOTAL £176,000  
 
Estimated Rental Income
Rent per week   £155.77  
Rent per month     £675  
Rent per year   £8,100  

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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