RDA Estates

"experts in residential property investment"

18 Braemar House, Brighton, East Sussex, East Sussex, BN1 3AR

A centrally located, dual-aspect, spacious and bright two bedroom apartment. Its location, size and layout will ensure that this property is consistently rented.

£ 275,000.00
Category: Leasehold
Property Type: Two bedrooms or more
Beds: 2
Status: Sold
Outline:

A centrally located, dual-aspect, spacious and bright two bedroom apartment.  Its location, size and layout will ensure that this property is consistently rented.


Facilities:
Double Glazing,Gas Fired Central Heating,Shower

Location:

Braemar House is located just off of Western Road, the main city shopping area, constantly bustling with liveliness.
For any potential tenant that commutes, Brighton mainline railway station is a brisk 15 minute walk away or alternatively you can catch a number 6 bus that stops directly outside of the station.
Brighton's gorgeous and stretched out seafront is just a stones throw away as well, filled with options for everyone's individual tastes.


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

Property Details:
Entrance:

Communal entrance with stairs and a lift to the first floor

Front door leading to:

Hallway:

Security door entryphone, service cupboard, storage cupboard, double radiator

Lounge:

17'7 x 13'

Spacious, bright and with a service hatch to the kitchen, coved ceiling, double radiator, double glazed West facing windows

Kitchen:

9'11 x 7'2

Modern fitted kitchen with built in gas hob, oven and extractor. Cupboards above and below. Free-standing washing machine and a free standing fridge. Combi boiler supplying central heating and hot water.

Bedroom 1:

12'1 x 11'5

Large, bright room with a west facing window, double radiator, and a large amount of storage space in the fitted cupboard.

Bedroom 2:

9' x 8'10

West facing window, double radiator

Bathroom:

Modern bathroom suite comprising panelled bath with mixer shower, pedestal wash hand basin, low level WC, part tiled walls, single radiator

Lease:

950 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 £275,000  
 
Set Up Costs
Solicitors Fees        £780 incl VAT excl disbursements
Research Fee     £2,000  excl. VAT
 
Purchase Costs
Assumed Purchase Price £275,000  
Estimated Update            £0 incl 10% supervision fee
Stamp Duty   £12,000 commencing @ 3% 
TOTAL £287,000  
 
Estimated Rental Income
Rent per week   £242.31  
Rent per month     £1,050  
Rent per year   £12,600  
 
Owner's Annual Operating Costs
Rental Agent's Fees   £2,173.50 @ 15% plus VAT
Ground Rent        £37.50 per annum
Maintenance Charge      £669.78 per annum
TOTAL   £2,880.78 per annum
 
Summary
Gross Rent Per Year      £12,600  
Annual Operating Costs   £2,880.78  
Nett Cash In Hand pa   £9,719.22  
Nett Cash In Hand pm     £809.94  
 
Mortgage - Assuming 70% Loan £192,500  
 
Total Cash Outlay   £97,280  

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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