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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.

 

FINANCIAL FORECAST

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