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Property Investment
RDA ESTATES LIMITED
(We arrange it all)

 

19 RICHMOND PLACE, BRIGHTON BN2 9NA
ONE BEDROOM GROUND FLOOR CONVERTED FLAT
WITH OWN DECKED GARDEN

£147,500 - OR NEAR OFFER - LEASEHOLD

Location:  Richmond Place is situated in an extremely convenient location in central Brighton and yet from inside the property nobody would guess that much of what one of Britain's liveliest cities has to offer is just a short walk away.  Richmond Place is directly opposite the exotic Royal Pavilion - seaside fantasy palace of King George IV.  Brighton Station, with its commuter links to London Victoria, Kings Cross and London Bridge, is within 10 minutes walk.  A modern shopping mall as well as a quirky mix of hundreds of unique specialist shops are all within easy reach, as is the seafront with its lively promenades.  An excellent bus service provides easy access to most parts of town and beyond.

Description:  A one bedroom ground floor flat within a recently converted period property.  A perfect  flat for commuters, additional benefits include gas central heating, newly fitted kitchen and shower room and a rear decked garden.

Approximate Area:  400 square feet

Communal Hallway:  Understairs cupboard housing electricity meter.

Lounge:  14'8" x 10' 
Double radiator, wall mounted electric fuse box, double doors to outside, ceiling spotlights.

Kitchen:  12' 7" x 6' 5"  Modern range of wall & base units with roll edged work surfaces over, inset stainless steel single drainer sink unit with mixer taps, inset 4 ring 'Stoves' gas hob with electric oven under & cooker hood over, integrated dishwasher, integrated fridge/freezer.  Cupboard housing 'Ideal' combi boiler and space & plumbing for washing machine, further storage cupboard, breakfast bar, ceiling spotlights.

Shower Room:  Modern fitted shower room with tiled double shower cubicle with sliding door, low level WC, pedestal wash hand basin, chrome ladder style heated towel rail, fully tiled walls, uPVC double glazed window with frosted glass to side.

Inner Hallway

Bedroom:  13' 7" into bay x 10' 4"  Double radiator, sash bay window to front with secondary glazing, ceiling spotlights.

Rear Garden:  Decked walled garden measuring 20' 2" x 14' 2", pebbled area to rear. L shaped.



Outgoings:

Lease:  New 125 year lease
Maintenance:  £600 pa - tbc
Ground Rent:  £125 pa

Recommended Update:  Blinds

A professional electrical survey may reveal 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 1, 19 Richmond Place, Brighton BN2 9NA

Asking Price £147,500  
Set Up Costs
Solicitors Fees £645 Inc VAT excludes disbursements 
Research  £1,500  
Purchase Costs
Assumed Purchase Price £147,500  

Estimated Update

£700 Includes 10% Supervision
Stamp Duty nil Commencing @ 1% over £175k
Total Purchase Costs £148,200  
     
Estimated Rental Income
Rent per week £179  
Rent per month £775  
Rent per year £9,308  
     
 
Owners Annual Operating Costs

Rental Agents Fees

£1,640  @15% plus VAT

Ground Rent

£125

Per annum
Maintenance

£600

Per annum

Total

£2,366

Per annum
Summary
Gross rent per year £9,308  
Annual Operating Costs £2,366  
Nett Cash in Hand p.a. £6,942
Nett Cash in Hand p.m. £579
Mortgage .... Assuming 80% loan
Amount of Loan £118,000
Total Cash Outlay £32,345

See Notes