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Property Investment
RDA ESTATES LIMITED
(We arrange it all)

FLAT 9, 11 SILLWOOD PLACE, BRIGHTON BN1 2LH
TOP FLOOR CONVERTED STUDIO FLAT

         

 PRICE £118,000 - OR NEAR OFFER - LEASEHOLD

Location:  Sillwood Place is an oasis in the heart of one of Britain's liveliest cities - a quiet green cul-de-sac between the thriving city centre and Brighton's vibrant seafront.  The Artist and Fishing Quarters, stylish bars and restaurants of the seafront are just at the end of the road.  Shops from all the favourite high street names to the smart antique, jewellery and designer shops in The Lanes and the bohemian emporiums of the North Laines are close by.  Brighton Station is within easy walking distance and local buses provide regular services throughout Brighton & Hove and beyond.

Description:  A fourth (top) floor converted studio flat.  The property benefits from an entrance hall with door entryphone system, West aspect studio room with built-in storage cupboards, a separate kitchen and a contemporary bathroom.  An ideal rental property in a great location.

Approximate Total Area:  250 square feet

Approach:
  Communal front door leading to communal entrance hall and stairs rising to private front door on fourth floor.

Entrance Hall:  Two built-in cupboards housing meters, laminated wooden flooring, door entryphone system.

Studio Room:  12'3 x 11'5  Two west facing windows with oblique sea views, laminated wooden flooring, wall to wall range of wardrobe cupboards with sliding doors, built-in storage unit, wall mounted electric heater, tongue & groove panelling to one wall.

Kitchen:  8'1 x 6'8  Fitted with range of units comprising eye level wall cupboards and base cupboard and drawer units with roll top working surfaces over, single bowl single drainer stainless steel sink unit with mixer tap, appliance space, laminated wooden flooring, gas cooker point with space for cooker, tiled surround, display lighting, west facing window, built-in table.

Bathroom:  Fitted with white suite comprising panelled bath with wall mounted shower unit, vanity wash hand basin with mixer tap and cupboard below housing water meter, low level WC, mosaic tiled flooring, fully tiled walls, sky light window, built-in cupboard housing hot water cylinder, wall mounted electric heater.



Outgoings:

Lease:  99 years from 1988
Maintenance:  £594 per annum
Ground Rent:  £75 per annum

Recommended Update:  Washing Machine, blinds
A professional electrical survey may reveal additional work not covered by the update. 

These details are produced in good faith but are set out as a guide only and do not constitute any form of contract nor any statement contained therein to be representation or warranty.  Any intended purchasers must satisfy themselves by inspection or under advice of their solicitor particularly in context of any approved plans for other on site or nearby development.

 

FINANCIAL FORECAST

Flat 9, 11 Sillwood Place Brighton

Asking Price £118,000  
Set Up Costs
Solicitors Fee £645 Includes VAT - excludes disbursements
Research Fee £1,500  
Purchase Costs
Assumed Purchase Price £118,000  

Estimated Update

£950  
Stamp Duty nil Commencing @ 1% over £175k
Total Purchase Costs £118,950  
     
Estimated Rental Income
Rent per week £126  
Rent per month £546  
Rent per year £6,552  
     
 
Owners Annual Operating Costs

Rental Agents Fees

£1,155  @15% plus VAT

Ground Rent

£75

 
Maintenance (includes Building Insurance)

£594

 

Total

£1,824

Per annum
Summary
Gross rent per year £6,552  
Annual Operating Costs £1,824  
Nett Cash in Hand p.a. £4,728
Nett Cash in Hand p.m. £394
Mortgage .... Assuming 80% loan
Amount of Loan £94,400
Total Cash Outlay £26,695