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RDA ESTATES LIMITED
(We arrange it all)
29 GROVE COURT, THE DRIVE, HOVE BN3 3JG
TWO BEDROOM SEVENTH FLOOR
PURPOSE BUILT FLAT WITH GARAGE
PRICE £249,950 LEASEHOLD
Location: Grove Court is situated on the one of the most prestigious, sought after roads in Hove. This central Hove location offers superb shopping facilities and a cosmopolitan selection of bars and restaurants. The lawns, promenades and beaches of Hove seafront are just a short walk away, as is Sussex County Cricket Ground. Hove's mainline railway station provides fast, frequent links to London and Gatwick Airport and the local buses provide quick regular services to Brighton city centre and beyond.
Description:
This
well presented two double bedroom property is located on the 7th floor of this
purpose built block of flats. The apartment benefits from a westerly
aspect balcony with roof top views to
the
sea
and
a
garage
at
the
rear
of
the
building.
Approximate Area: 800
square feet (including balcony)
Entrance: Communal entrance,
passenger lifts and stairs to upper levels.
Entrance Hall: 11'8" x 7'7"
Lounge: 16'6" x 13'5" Double aspect, Westerly aspect double
glazed windows, roof top views over Hove tot he sea, double glazed door to
balcony, wooden flooring, three wall light points, electric night storage
heater.
Balcony: 20' x 5' Westerly aspect, roof top view over Hove to
the sea.
Kitchen: 9'3" x 7'4" Westerly aspect double glazed window, range
of wall and base level units including glass display cabinets, roll edge work
tops with tiled splash backs, one and a half bowl sink and drainer with mixer
tap, fitted oven, 'Baumatic' four ring electric hob with stainless steel
extractor hood over, fitted fridge freezer, fitted washing machine, ceiling spot
lights, tiled floor.
Master Bedroom: 13'8" x 11'9" Westerly aspect double glazed
windows with roof top views over Hove to the sea, double glazed door to the
balcony, two fitted wardrobes, wooden flooring, electric night storage heater.
Bedroom Two: 11'5" x 8' Double glazed window, fitted wardrobe,
wooden flooring, electric night storage heater.
Bathroom: 12' x 5'6" Bath with 'Mira Sport' shower over, work
surface with inset hand basin and mixer tap, wc with concealed cistern. fitted
mirror with three spot lights above, cupboard housing water tank, heated towel
rail, tiled floor.
Outgoings:
Lease: 94 years remaining of a 99 year lease
Maintenance: £1,675 per annum (including Reserve Fund)
Ground Rent: £300 per annum
Recommended Update:
No work required
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 |
||
|
29 GROVE COURT, THE DRIVE, HOVE BN3 3JG |
||
| Asking Price | £249,950 | |
| Set Up Costs | ||
| Solicitors Fees | £645 | Inc VAT excludes disbursements |
| Research | £1,500 | |
| Purchase Costs | ||
| Assumed Purchase Price | £249,950 | |
|
Estimated Update |
nil | |
| Stamp Duty | £2,500 | Commencing @ 1% over £125k |
| Total Purchase Costs | £252,450 | |
| Estimated Rental Income | ||
| Rent per week | £214 | |
| Rent per month | £927 | |
| Rent per year | £11,128 | |
| Owners Annual Operating Costs | ||
|
Rental Agents Fees |
£1,961 | @15% plus VAT |
|
Ground Rent |
£300 |
|
| Maintenance |
£1,675 |
Per annum |
|
Total |
£1,735 |
Per annum - including Reserve Fund |
| Summary | ||
| Gross rent per year | £11,128 | |
| Annual Operating Costs | £3,936 | |
| Nett Cash in Hand p.a. | £7,192 | |
| Nett Cash in Hand p.m. | £599 | |
| Mortgage .... Assuming 80% loan | ||
| Amount of Loan | £199,960 | |
| Total Cash Outlay | £54,635 | |
See Notes