RDA Estates

"experts in residential property investment"

7 Hereford Court, The Drive, Hove, Hove, East Sussex, East Sussex, BN3 3PF

An ideally sized 3 bedroom apartment, centrally located in Hove; a pleasant 15 minute walk to the centre of Brighton and local amenities are all close by.

£ 330,000.00
Category: Leasehold
Property Type: Two bedrooms or more
Beds: 3
Baths: 1.00
Status: Sold
Outline:

An ideally sized 3 bedroom apartment, centrally located in Hove; a pleasant 15 minute walk to the centre of Brighton and local amenities are all close by.


Facilities:
Double Glazing,Gas Fired Central Heating,Parking,Shower,Balcony

Location:

Hereford Court is a centrally located purpose built block on The Drive; a main road in central Hove connecting you to Church Road that leads into central Brighton with numerous shops, cafe's and other amenities along the way. Hove mainline railway station is a 10 minute walk away with frequent, direct commuter links to London and other areas across the South. The seafront is at the bottom of The Drive and with Hereford Court being two blocks up this is an attractive fact for potential tenants.


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

Property Details:
Entrance:

Intercom entry. Building door opening into communal lobby with one/two lift(s) as well as stairs for access upwards

Hallway:

Coat and shoe space, entryphone handset, radiator, store cupboard with shelving 

Lounge:

15' x 11'10

Spacious lounge with radiator, double doors leading to West facing balcony (12'7 in length)

Kitchen:

11'10 x 7'3

Dated kitchen, has gas point, combination boiler situated in this room

Bedroom 1:

12'9 x 11'7

Built-in wardrobe cupboards, double radiator

Bedroom 2:

12'5 x 8'5

Radiator, built-in wardrobe cupboard

Bedroom 3:

11'5 x 6'5

Radiator, wall cupboard

Bathroom:

Panelled bath with electric shower attachmentm low flush W.C, pedestal wash hand basin, radiator, window

Separate WC:

W.C, basin, tiled throughout except ceiling and vinyl flooring

Outside:

Car parking space situated at the rear of the building with security lighting

Lease:

106 Years remain as of 2017


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 £349,950  
 
Set Up Costs
Solicitors Fees        £780 incl VAT excl disbursements
Research Fee     £2,000  excl. VAT
 
Purchase Costs
Assumed Purchase Price £349,950  
Estimated Update            £20,000 incl 10% supervision fee
Stamp Duty   £17,996 commencing @ 3% 
TOTAL £387,946  
 
Estimated Rental Income
Rent per week   £253.85  
Rent per month     £1,100  
Rent per year   £13,200  

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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