RDA Estates

"experts in residential property investment"

The Ambassadors, Wilbury Road, Hove, East Sussex, East Sussex, BN3 3JH

A superbly presented two bedroom flat occupying part of the second floor of this small purpose built block.

£ 260,000.00
Category: Leasehold
Property Type: Two bedrooms or more
Beds: 2
Baths: 1.00
Status: Sold
Outline:
A superbly presented two bedroom flat occupying part of the second floor of this small purpose built block, located in one of central Hove's most sought after roads close to all local amenities.

Facilities:
Double Glazing,Gas Fired Central Heating,Shower

Location:
Situated in a quiet block on one of Hove's most prestigious and sought after roads. The property is within two minutes walk of Church Road and the huge variety of businesses, restaurants, cafes, bars, clubs and retail destinations located there. Three large local parks are less than ten minutes away, and the ever-popular beach is within five minutes walk from the flat. The county cricket ground is just five minutes away while Hove Station is within ten minutes walk.

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

Property Details:
Hallway:

Spacious and bright entrance hallway, measuring 23'5" in length, with entryphone telephone system, radiator and additional storage cupboard with additional storage above.

Lounge:

15'4" x 12'5" Large, bright lounge with double glazed window, radiator and coved ceiling.

Kitchen:

11'8" x 7'1" Spacious kitchen including excellent range of modern fitments comprising stainless steel drainer sink unit with mixer tap inset into work top, excellent range of base cupboards and draws incorporating space for cooker and washing machine, integrated fridge/freezer, superb range of fitted wall units, extractor/cooker hood, cupboard housing modern wall mounted Worcester boiler, breakfast bar, radiator, tiled flooring, ceiling coving and double glazed window.

Bedroom 1:

15'3" x 11'1" Large, light double-bedroom with double glazed window, radiator and storage cupboard with fitted shelving and hanging rail.

Bedroom 2:

9'9" x 9'9" Good-sized room with large in-built storage cupboard with shelving and hanging rail, double-glazed window and radiator.

Bathroom:

Corner bath with mixer tap, shower fitment curtain and rail, wall mounted wash-hand basin with mixer tap, low level WC with concealed cistern, double glazed windows, tiled flooring and tiled walls.

Lease:

100 Years remaining.



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 £260,000  
 
Set Up Costs
Solicitors Fees        £780 incl VAT excl disbursements
Research Fee     £2,000  Excl. VAT
 
Purchase Costs
Assumed Purchase Price £260,000  
Estimated Update            £1500 incl 10% supervision fee
Stamp Duty  £3,000  
TOTAL £264,500  
 
Estimated Rental Income
Rent per week        £225  
Rent per month        £975  
Rent per year     £11,700  
 
Owner's Annual Operating Costs
Rental Agent's Fees     £2,018 @ 15% plus VAT
Ground Rent      £38 per annum tbc
Maintenance Charge     £1,106 per annum
TOTAL     £3,162 per annum
 
Summary
Gross Rent Per Year     £11,700  
Annual Operating Costs     £3,162  
Nett Cash In Hand pa     £8,538  
Nett Cash In Hand pm        £711  
 
Mortgage - Assuming 70% Loan £182,000  
 
Total Cash Outlay   £85,280  

 

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.

 

Fields marked * are required
Subject *
Message *
Your Name *
Your E-mail *
Phone
Security Code *
Please insert the validation code below.