RDA Estates

"experts in residential property investment"

Flat 2, 30 Brunswick Street East, Hove, East Sussex, BN3 1AU

A first floor three bedroom converted apartment in a central location with garage and off street parking.

£ 325,000.00
Initial outlay required: £ 110,970.00
Category: Leasehold
Property Type: Two bedrooms or more
Beds: 3
Baths: 1.00
Status: Sold
Outline:
A well proportioned three bedroom flat on the first floor of a modern, popular street. The property comes with off street parking and a garage. The kitchen is in fantastic condition and has been impeccably maintained. No update is needed to the property.

Facilities:
Garage,Gas Fired Central Heating,Parking,Shower

Location:
Brunswick Street East is just outside the centre of Brighton and is less than five minutes from the city's popular amenities, including Brunswick Square, Western Road and Brighton seafront. With a fast, frequent bus service you are just a few minutes away from the endless restaurants, cafes and shops that occupy the city centre. VIEW MAP

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

Property Details:
Entrance: Doors to lounge, kitchen/breakfast room, three bedrooms and the bathroom. Door entry phone receiver, central heating thermostat.
Lounge: 15'0 x 15'0 Front facing room with two attractive sash windows, wood laminate flooring and a radiator.
Kitchen: 13'5" x 7'10" A modern white high gloss kitchen comprising a range of wall, base and drawer units with black roll edged work surfaces over, inset stainless steel sink positioned below the sash window, space for appliances, inset 5 burner hob and double oven, tiled floor and splash backs, radiator and space for a breakfast table.
Bedroom 1: 11'8" x 10'9" Double bedroom located at the front of the building, sash window, radiator and large built in storage cupboard.
Bedroom 2: 13'1" x 9'2" Double bedroom, sash window to the rear and a radiator.
Bedroom 3: 8'6" x 8'2" Sash window to the rear and a radiator.
Bathroom: 7'2" x 6'2" Modern white suite comprising panel enclosed bath with fitted shower over, hand wash basin, low level close coupled w.c, tiled walls, upright radiator/towel rail.
Outside: Integral garage as well as off-street parking
Lease: 125 Years from December 1998 (112 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 £349,000  
 
Set Up Costs
Solicitors Fees £780 incl VAT excl disbursements
Research Fee £2,000  
 
Purchase Costs
Assumed Purchase Price £349,000  
Estimated Update £0 incl 10% supervision fee
Stamp Duty £3,490 commencing @ 1% over £125k
TOTAL £352,490  
 
Estimated Rental Income
Rent per week £300  
Rent per month £1,300 Current rent
Rent per year £15,600  
 
Owner's Annual Operating Costs
Rental Agent's Fees £2,691 @ 15% plus VAT
Ground Rent £- per annum
Maintenance Charge £1010 per annum
TOTAL £3,701 per annum
 
Summary
Gross Rent Per Year £15,600  
Annual Operating Costs £3,701  
Nett Cash In Hand pa £11,899  
Nett Cash In Hand pm £991.58  
 
Mortgage - Assuming 70% Loan £244,300  
 
Total Cash Outlay £110,970  

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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