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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 |