RDA Estates

"experts in residential property investment"

35 Marlborough Court, Hove, East Sussex, East Sussex, BN3 3JX

Marlborough Court is an excellently located purpose built block of flats, it is within central Hove, only a 15 minute walk into Brighton's city centre and 5 minutes to the beach and Hove mainline railway station. With local amenities just a stones throw away, this building has you well equipped with the surroundings.

£ 159,950.00
Category: Leasehold
Property Type: Studios
Baths: 1.00
Status: For Sale
Outline:

This bright, spacious studio apartment has an ideal location and beautiful views of the city to offer.

Marlborough Court is a centrally located, popular, purpose built block of flats in the very centre of Hove, only a 15 minute walk into Brighton's city centre and less than 5 minutes from the beach and Hove mainline railway station for commuters.

With local amenities just a stones throw away, this building is ideally situated to appeal to a broad, diverse range of tenants and any resident is well connected to the city and surrounding area.


Facilities:
Double Glazing,Shower

Location:

Marlborough Court is located on The Drive, one of Hove's busiest main roads, located in the very center of the town and leading directly down to the beach.
Hove mainline railway station is less than a 10 minute walk away with frequent trains to London All Areas and Gatwick airport.


Hove's main shopping streets; George Street and Church Road are immediately around the corner with lots of facilities and amenities to serve any tenant's needs. There is a large Tesco supermarket within a 10 minute walk of the property. 

Hove Recreation ground and Hove Park (one of the largest parks in Brighton & Hove) are within 10 minutes from Marlborough Court. There's plenty of options to choose from at Hove Park - there is a climbing rock/wall, multiple tennis courts, an old miniature railway that you can see functioning over Spring and Summer, and also a large children's play area.
Given that this building is so close to Church Road, there are multiple, frequent bus routes running so if you want to head into central Brighton or journey along the coast to Eastbourne or the opposite way, further into Hove, these options are all very close and available.


Nearby:
Shopping Area,Town Centre,Train Station,Coffee Shop,Beach,Park,School,Restaurants,Sussex County Cricket Ground

Property Details:
Entrance:

On the ground floor with passenger lift or stairs rising to fifth floor. Flat door leading into:

Hallway:

Security entryphone system. Built-in cupboard with electricity meters, fuse box and shelving. Adjoining double width airing cupboard with water cylinder.

Doors to studio room:

Studio Room:

17' 4" x 9' 10"

UPVC double glazed window to rear. Coved ceiling. Telephone point. Double width built-in wardrobe.

Door to kitchen:

Kitchen:

7' 5" x 6' 1"

Comprising stainless steel single drainer sink unit, rolled edge worktop with cupboards. UPVC double glazed window above with views to rear. Range of wall units incorporating extractor hood. Four burner electric hob with electric oven and grill beneath. Adjoining base cupboards and drawers. Tiled walls.

Bathroom:

Modern white suite comprising bath with electric shower, low level W.C., pedestal wash basin, tiled walls, vinyl flooring, heated towel rail, extractor vent.

Lease:

996 Years remain


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 £159,950  
 
Set Up Costs
Solicitors Fees        £780 incl VAT excl disbursements
Research Fee     £2,000  excl. VAT
 
Purchase Costs
Assumed Purchase Price £159,950  
Estimated Update            £0 incl 10% supervision fee
Stamp Duty     £5,498 commencing @ 3% 
TOTAL £165,448  
 
Estimated Rental Income
Rent per week   £144.23  
Rent per month        £625  
Rent per year     £7,500  
 
Owner's Annual Operating Costs
Rental Agent's Fees   £1,293.75 @ 15% plus VAT
Ground Rent        £31.50 per annum
Maintenance Charge      £991.80 per annum
TOTAL   £2,317.05 per annum
 
Summary
Gross Rent Per Year      £7,500  
Annual Operating Costs   £2,317.05  
Nett Cash In Hand pa   £5,182.95  
Nett Cash In Hand pm     £431.91  
 
Mortgage - Assuming 70% Loan £111,965  
 
Total Cash Outlay   £56,263  

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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