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Property Investment
RDA ESTATES LIMITED
(We arrange it all)

 

15 SOUTH POINT, EMERALD QUAY,
HARBOUR WAY, SHOREHAM-BY-SEA  BN43 5JL

   2 BEDROOM GROUND FLOOR PURPOSE BUILT FLAT

 

PRICE £148,000
Reduced From £165,000
LEASEHOLD WITH SHARE OF FREEHOLD

LOCATION:  Emerald Quay is a riverside development with a central yacht basin just by Shoreham Beach.  Facilities for the residents include exclusive use of the leisure complex comprising indoor heated swimming pool with Jacuzzi, steam room, changing room, solarium, gymnasium and private members bar overlooking the yacht basin.

The Emerald Quay
development at Shoreham Beach is approximately 15 minutes drive from Hove, westwards towards Worthing.  Shoreham is a charming little town with its own airport, and promises excellent long term growth through surrounding development of Worthing, Lancing and Hove, plus the development of the port and marina facilities of this stretch of coast.   Access to London and all nearby towns is easy by road or train.  The potential of property investment here is on asset growth and constant rental.  The facility is managed to a strict level causing rapidly growing interest in the town.  For those looking for long term growth, this is a very exciting area which is certain to be a very good prospect which RDA Estates highly recommends.           

DESCRIPTION:
  A two bedroom  purpose built ground floor flat with its own entrance.  Allocated parking space.  A good long term investment.

Approximate Total Area:  500 square feet

Entrance Hall:  Dimplex storage heater, built in airing cupboard housing hot water tank.

Lounge: 14'9" x 12'9  South facing.  Dimplex storage heater. Range of display shelving and fitted cupboards.  Coved ceiling.

Bedroom 1:  12'3" to front of wardrobes x 9'3"   Full width range of built in wardrobes behind mirror fronted sliding doors. Dimplex storage heater.  Coved ceiling

Bedroom 2:  9'3" x 7'3"  Dimplex storage heater. Coved ceiling

Kitchen: 14'0" x 5'0"  New kitchen would be beneficial.

Bathroom:    Modern white suite and fully tiled walls comprising panelled bath with shower over and folding shower screen.  Pedestal wash hand basin and low level wc with half tiled surround.  Electric heated towel rail.  Extractor fan.  Laminated flooring.

                       

Outside
Allocated car parking space and visitor parking

Outgoings
Lease:  125 years from 1 Jan 1988 
Ground Rent:  £100 per annum.
                       Vendor owns a share in the freehold company which is included in the sale.
Maintenance:  £1,541 per annum

Recommended Update:  New kitchen would be beneficial.

A professional electrical inspection may show additional work which is not included in the update.

The electrical installation has been updated in 2002 and certificate is held.

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 of 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

15 SOUTH POINT, EMERALD QUAY, SHOREHAM BEACH

Asking Price £148,000
Set Up Costs
Solicitors Fees £645 Includes VAT, excludes disbursements
Research  £1,500  
Purchase Costs
Assumed Purchase Price £148,000

Estimated Update

£3,576 Includes 10% supervision
Stamp Duty £0 Commencing @ 1% over £175k
Total Purchase Costs £151,576
Estimated Rental Income
Rent per week £167
Rent per month £724
Rent per year £8,684
   
Owners Annual Operating Costs

Rental Agents Fees

£1,531  @15% + VAT

Ground Rent

£100

 
Maintenance

£1,541

 

Total

£3,172

Per annum
Summary
Gross rent per year £8,684
Annual Operating Costs £3,172
Nett Cash in Hand p.a. £5,512
Nett Cash in Hand p.m. £459
Mortgage .... Assuming 80% loan
Amount of Loan £118,400
Total Cash Outlay £35,321
   

See Notes