RDA Estates

"experts in residential property investment"

Pembroke Court, New Church Road, Hove, Hove, East Sussex, BN3 4AB

This modern two bedroom flat is situated in a prestigious block in a highly desirable, central location of Hove. A five minute stroll to the seafront and Hove Lawns, numerous cafes, restaurants and shops. The spacious property also benefits from a balcony which is suitable for a table and chairs and is accessed from the living room.

£ 289,950.00
Category: Share of Freehold
Property Type: Two bedrooms or more
Beds: 2
Baths: 1.00
Status: Sold
Outline:

A second floor two double bedroom flat, with a spacious lounge/diner and double glazed windows and doors leading to a balcony.

A  modern kitchen and bathroom, laminate flooring, gas central heating all compliment this highly desirable property.

 

Close to all amemaities, bus routes and Hove Station


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

Location:

Situated in a highly desirable quiet part of Hove, close to all amenities and Hove Station, all bus routes and the promenade


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

Property Details:
Hallway:

Entrance hallway leading to lounge/diner, doors to both double bedrooms, kitchen and bathroom. A large built in storage cupboard, further cupboard housing the meters, radiator and laminate flooring.

Lounge / Dining:

16' 3 x 11'6 A bright spacious living space, double glazed windows and doors leading to the balcony. Laminate flooring which is continued from the hallway. Radiator.

Kitchen:

10'6 x 6'11 A smart modern kitchen with a range of base and eye level units and drawers with a roll edged work top. A stainless steel sink and drainer is positioned below the double glazed window. Integrated gas hob and oven, stainless steel cooker hood, integrated fridge/freezer and further space for appliances. The mosaic tiled splash back completes the look of this stylish kitchen witch also has under lights in the high level units.

Bedroom 1:

15'10 x 9'11 A west facing double room with 11'8 wide double glazed window, built in cupboards, radiator, laminate flooring.

Bedroom 2:

11'x9 x 9'1 Second double bedroom, with large window, built in cupboards, radiator and laminate flooring.

Bathroom:

10'0x 4'10 A  stylish modern white suite, comprising off a tiled panelled bath with centre mounted shower over, pedestal wash hand basin, low level w.c . Tiled floor and walls to bath and shower area.

Modern chrome upright radiator/towel rail. Double glazed window with frosted glass.

Outside:

Spacious balcony.


The communal entrance is well maintained with stairs and a lift rising to the second floor where the flat is situated.

The hallway has a large built in storage cupboard and a further cupboard housing the meters and a radiator.

A spacious lounge/diner is light and airy with laminate flooring and neutral decor. Two double bedrooms, both with large double glazed windows, an extremely modern kitchen  with integrated appliances and a stylish bathroom with a white suite, tiled floor and walls to shower and bath area.

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 £289,950  
 
Set Up Costs
Solicitors Fees        £780 incl VAT excl disbursements
Research Fee     £2,000  excl. VAT
 
Purchase Costs
Assumed Purchase Price £289,950  
Estimated Update            £0 incl 10% supervision fee
Stamp Duty     £13,196 commencing @ 3% 
TOTAL £303,146  
 
Estimated Rental Income
Rent per week        £242  
Rent per month        £1050  
Rent per year     £12,600  
 
Owner's Annual Operating Costs
Rental Agent's Fees     £2,268 @ 15% plus VAT
Ground Rent            £0 per annum
Maintenance Charge        £2000 per annum
TOTAL     £4,268 per annum
 
Summary
Gross Rent Per Year      £12,600  
Annual Operating Costs     £4,173  
Nett Cash In Hand pa     £8,426  
Nett Cash In Hand pm        £702  
 
Mortgage - Assuming 70% Loan £202,965  
 
Total Cash Outlay   £102,961  

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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