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Property
Investment
RDA ESTATES LIMITED
24 FURZE HILL COURT, FURZE HILL, HOVE BN3 1PG
2 BEDROOM THIRD FLOOR FLAT WITH BALCONY

£239,950 SHARE OF FREEHOLD
Location: Furze Hill is an excellent location, close to both Hove
seafront with its lawns, promenades and bathing beaches as well as the beautiful
St Annes Well Gardens and Sussex County Cricket Ground. The
property is also ideally situated for easy access to the many cosmopolitan bars, cafes, restaurants and shops
to be found in Brighton & Hove. Both Brighton and Hove's mainline railway stations with
fast, frequent links to London Victoria and Gatwick Airport are within easy
reach.
Description: A spacious, two double bedroom apartment on the third
floor of a much sought after purpose built block. This impressive property
has been fully refurbished to an exceptionally high standard throughout.
The stylish new kitchen benefits from a tiled floor with under floor heating, as
does the separate WC, the luxury fully tiled bathroom includes a heated chrome
towel rail. The large lounge enjoys far
reaching sea views from the south facing balcony. This property further
benefits from newly installed gas central heating, generous
storage facilities, a resident caretaker and communal landscaped gardens. A
perfect investment property in a very popular location.
Approximate Area: 600 square feet
Communal Entrance Hall: Two passenger lifts and stairs rising to third floor.
Entrance Hallway: Door entry phone, radiator, central heating
programmer, doors to all rooms. 6 built in store cupboards, one housing
the electric meter, another housing the washing machine.
Lounge: 15'5" max (narrowing to 12') x 14'4" An
impressive room with a South Easterly aspect. Double glazed window with
fantastic views over the communal gardens towards the sea, double glazed door
leading to the balcony. New neutral carpets, white wooden blinds,
radiator, wall lights.

Balcony: Covered balcony - good length, accessed from lounge - fabulous far reaching views.

Kitchen: 8' 10 x 7' 7 A newly fitted modern kitchen with
contemporary fitments. Comprising a range of white wall, base and drawer units
with black rolled edge work surfaces over. Inset four burner hob with matching
oven under and cooker hood over. Inset stainless steel sink and drainer with
stylish mixer tap, cupboard housing Worcester boiler and gas meter. Part
tiled walls, integrated dish washer and fridge, radiator, ceramic tiled floor
with under floor heating, double glazed window, white wooden blinds.

Bedroom One: 12' x 11'3" Double glazed window with
similar views as the living room and balcony. Wall of built in cupboards /
wardrobes, radiator, new neutral carpets, white wooden blinds.

Bedroom Two: 11'2" x 10'6" Double glazed window with some sea
views. Built in cupboards / wardrobes, radiator, new neutral carpets,
white wooden blinds.
Bathroom: A newly fitted luxury white suite comprising panelled
bath with modern Mira shower and screen, pedestal wash hand basin, chrome
upright towel rail / radiator, large inset mirror, fully tiled walls and floor,
part glass brick wall, double glazed window with frosted glass.

Separate WC: Fully tiled walls and floor to match the bathroom. Low
level close coupled WC with dual flush, hand wash basin, double glazed window
with frosted glass, under floor heating.
Outside:
Communal Gardens

Further Trunk Room: Store cupboard in the basement.
Outgoings:
Lease:
999 years from December 1959
Maintenance: £2,448 per
annum
Ground Rent: nil
Recommended Update: No work required
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.
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FINANCIAL FORECAST |
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FLAT 24 FURZE HILL COURT, FURZE HILL, HOVE BN3
1PG |
| Asking Price |
£239,950 |
|
| Set Up Costs |
| Solicitors Fees |
£645 |
Inc VAT (excludes
disbursements) |
| Research |
£1,500 |
|
| Purchase Costs |
| Assumed Purchase Price |
£239,950 |
|
|
Estimated Update |
nil |
|
| Stamp Duty |
£2,400 |
@ 1% for properties over
£175k |
| Total Purchase Costs |
£242,350 |
|
| |
|
|
| Estimated
Rental Income |
| Rent per week |
£220 |
|
| Rent per month |
£953 |
|
| Rent per year |
£11,440 |
|
| |
|
|
| |
| Owners
Annual Operating Costs |
|
Rental Agents Fees |
£2,016 |
@15% plus VAT |
|
Ground Rent |
£0 |
|
| Maintenance |
£2,448 |
|
|
Total |
£4,464 |
per annum |
| Summary |
| Gross rent per year |
£11,440 |
|
| Annual Operating Costs |
£4,464 |
|
| Nett Cash in Hand p.a. |
£6,976 |
|
| Nett Cash in Hand p.m. |
£581 |
|
|
|
|
| Mortgage ....
Assuming 80% loan |
| Amount of Loan |
£191,960 |
|
| Total Cash Outlay |
£52,535 |
See Notes
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