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Property Investment
RDA ESTATES LIMITED
(We arrange it all)

 

19 RICHMOND PLACE, BRIGHTON BN2 9NA
ONE BEDROOM FIRST FLOOR CONVERTED FLAT
WITH OWN DECKED REAR ROOF TERRACE

£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 light, airy one bedroom first floor flat within a recently converted period property.  A perfect  flat for commuters, additional benefits include a modern fitted kitchen, gas central heating and a decked rear roof terrace.

Approximate Area:  400 square feet

Entrance Hall: 
Wall mounted electric fuse box, door entry phone receiver, door to:-

Lounge:  14'6" x 10' 
Double radiator, double glazed window to rear, ceiling spotlights.

Recessed Kitchen:  9' 5" x 7' 1"  Modern range of wall & base units with roll edged work surfaces over, inset stainless steel sink unit with mixer taps, inset 4 ring hob with electric oven under & stainless steel cooker hood over, integrated washing machine, integrated dishwasher, integrated fridge/freezer.  Double radiator, wall mounted 'Ideal' combination boiler, double glazed window to side, double doors to roof terrace.

Inner Hallway
Door to:

Bedroom:  14'1" into bay x 10'   Double radiator, sash bay window to front with secondary glazing, ceiling spotlights.

En Suite Shower Room:  Modern fitted shower room with tiled shower cubicle with sliding door, low level - dual flush WC, pedestal wash hand basin, chrome ladder style heated towel rail, fully tiled walls.

Lobby
Fire door to communal hallway

Rear Roof Terrace:
Decked roof terrace

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

FFF, 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 £173  
Rent per month £750  
Rent per year £8,996  
     
 
Owners Annual Operating Costs

Rental Agents Fees

£1,586  @15% plus VAT

Ground Rent

£125

Per annum
Maintenance

£600

Per annum

Total

£2,311

Per annum
Summary
Gross rent per year £8,966  
Annual Operating Costs £2,311  
Nett Cash in Hand p.a. £6,685
Nett Cash in Hand p.m. £557
Mortgage .... Assuming 80% loan
Amount of Loan £118,000
Total Cash Outlay £32,345

 

See Notes