3 Bed Flat, Refurb/BRRR, Brighton, BN1 2FA, £400,000

8 ABBOTS, 129 KINGS ROAD, BRIGHTON, BN1 2FA - 10 views - 6 months ago

Sold STC

Leasehold

Auction

Cash

Refurb/BRRR

146 m²

+11 photos

ValuationFair Value

Sold Prices	£100K - £900K
Sold Prices/m²	£2.7K/m² - £17.8K/m²

Square Metres	146 m²
Price/m²	£2.7K/m²
Value Estimate	£408,000£408,000

End Value (After Refurb)	£905,060£905,060
Uplift in Value	+126%+126%
You could potentially get back more cash than you put into this deal. All your cash out plus £176,456 extra. See the breakdown

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£100,000£100,000
Stamp Duty & Legal Fees	£20,700£20,700
Refurb Costs	£69,389£69,389
Bridging Loan Interest	£10,500£10,500
Total Cash In	£202,339£202,339

Cash Out
Monetisation	FlipRefinance & RentFlip
Estimated Sale Price	£905,060£905,060
Agent Fees (1%)	£9,051£9,051
Bridging Loan	£300,000£300,000
Bridging Loan Interest	£10,500£10,500
Flip Profit	£393,671£393,671

Local Sold Prices

30 sold prices from £100K to £900K, average is £479.3K. £2.7K/m² to £17.8K/m², average is £5.7K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£650K	06/21	0.42 mi	7, Bartholomews, Brighton, Brighton And Hove BN1 1HG	£7,738	84	3	Flat
£672.5K	11/23	0.51 mi	30a, Brunswick Square, Hove, Brighton And Hove BN3 1ED	-	-	3	Flat
£570K	06/21	0.75 mi	Second Floor Flat, 15, Palmeira Avenue, Hove, Brighton And Hove BN3 3GA	-	-	3	Flat
£461K	09/23	0.9 mi	Upper Maisonette, 37, Hamilton Road, Brighton, Brighton And Hove BN1 5DL	£4,433	104	3	Flat
£900K	07/23	0.94 mi	Flat 23, Grand Avenue Mansions, Grand Avenue, Hove, Brighton And Hove BN3 2NA	-	-	3	Flat
£497.5K	08/23	0.95 mi	6, Campbell Road, Brighton, Brighton And Hove BN1 4QD	£7,007	71	3	Flat
£285K	07/21	1.03 mi	41a, Dyke Road Drive, Brighton, Brighton And Hove BN1 6AJ	-	-	3	Flat
£415K	03/23	1.06 mi	4a, Burton Villas, Hove, Brighton And Hove BN3 6FN	£6,958	60	3	Flat
£100K	06/23	1.08 mi	Flat 5, Fairways, Dyke Road, Brighton, Brighton And Hove BN1 5AB	-	-	3	Flat
£390K	02/21	1.18 mi	Basement Flat, 14, College Road, Brighton, Brighton And Hove BN2 1JB	£8,864	44	3	Flat
£825K	04/21	1.21 mi	118, Springfield Road, Brighton, Brighton And Hove BN1 6BZ	-	-	3	Flat
£340K	03/21	1.33 mi	Flat, 189a, Freshfield Road, Brighton, Brighton And Hove BN2 9YE	-	-	3	Flat
£306.8K	09/21	1.36 mi	Maisonette, 4, Franklin Road, Brighton, Brighton And Hove BN2 3AD	-	-	3	Flat
£502.5K	03/21	1.4 mi	124, Shirley Street, Hove, Brighton And Hove BN3 3WG	£5,710	88	3	Flat
£235K	05/23	1.41 mi	Ground Floor Flat, 50, Livingstone Road, Hove, Brighton And Hove BN3 3WL	£5,595	42	3	Flat
£527.3K	06/23	1.42 mi	Upper Maisonette, 125, Livingstone Road, Hove, Brighton And Hove BN3 3WN	£17,801	30	3	Flat
£510K	09/21	1.57 mi	Lower Maisonette, 33, Chesham Road, Brighton, Brighton And Hove BN2 1NB	-	-	3	Flat
£431K	10/21	1.76 mi	41a, Sussex Square, Brighton, Brighton And Hove BN2 1GE	£2,714	159	3	Flat
£500K	03/21	1.82 mi	Ground Floor Flat, 5, Arundel Terrace, Brighton, Brighton And Hove BN2 1GA	£4,386	114	3	Flat
£288K	11/21	2.1 mi	57, Burstead Close, Brighton, Brighton And Hove BN1 7HT	-	-	3	Flat
£565K	10/23	2.23 mi	Flat 28, Neptune Court, The Strand, Brighton Marina Village, Brighton, Brighton And Hove BN2 5SL	-	-	3	Flat
£205K	11/21	2.3 mi	5, Hillside, Brighton, Brighton And Hove BN2 4TA	-	-	3	Flat
£510K	01/23	2.31 mi	Flat 30, Wellington Court, The Strand, Brighton Marina Village, Brighton, Brighton And Hove BN2 5WE	-	-	3	Flat
£550K	03/23	2.31 mi	Flat 26, Wellington Court, The Strand, Brighton Marina Village, Brighton, Brighton And Hove BN2 5WE	-	-	3	Flat
£535K	11/23	2.44 mi	Flat 27, Britannia Court, The Strand, Brighton Marina Village, Brighton, Brighton And Hove BN2 5SE	£5,753	93	3	Flat
£585K	02/23	2.49 mi	Flat 19, Copenhagen Court, The Strand, Brighton Marina Village, Brighton, Brighton And Hove BN2 5XL	-	-	3	Flat
£352K	03/21	2.58 mi	41 Woodland Court, Dyke Road Avenue, Hove, Brighton And Hove BN3 6DP	-	-	3	Flat
£228K	09/23	2.66 mi	Maisonette, 33a, Station Road, Portslade, Brighton, Brighton And Hove BN41 1GB	-	-	3	Flat
£257K	10/20	2.72 mi	Ground Floor Flat, 18, St Andrews Road, Portslade, Brighton, Brighton And Hove BN41 1DA	£4,145	62	3	Flat
£415K	07/23	2.72 mi	2, St Aubyns Road, Portslade, Brighton, Brighton And Hove BN41 1AD	£5,287	79	3	Flat

Local Rents

50 rents from £1.4K/mo to £6.1K/mo, average is £2.5K/mo.

Rent	Date	Distance	Address	Beds	Type
£2,150	12/24	0.02 mi	Kings Road, Brighton, East Sussex, BN1	3	Flat
£2,150	12/24	0.02 mi	Kings Road, Brighton, East Sussex, BN1	3	Flat
£2,541	12/24	0.03 mi	Hilton Metropole Court, Kings Road, Brighton	3	Flat
£1,995	02/24	0.04 mi	-	3	Terraced House
£1,695	12/24	0.12 mi	Regency Square, Brighton	3	Flat
£1,900	12/24	0.13 mi	Little Preston Street, Brighton, East Sussex, BN1	3	Flat
£6,051	02/24	0.14 mi	-	3	Flat
£3,300	03/25	0.14 mi	-	3	Flat
£6,051	12/24	0.15 mi	17 Little Preston Street, BN1 2HQ	3	Flat
£2,100	12/24	0.17 mi	Castle Street, City Centre, Brighton, BN1	3	Terraced House
£3,000	12/24	0.17 mi	Clarence Square, Brighton	3	Flat
£2,500	12/24	0.2 mi	Marlborough Mews, Brighton	3	Flat
£1,395	12/24	0.21 mi	-	3	Flat
£3,400	02/25	0.22 mi	-	3	Flat
£2,500	03/25	0.22 mi	-	3	Flat
£3,000	12/24	0.22 mi	-	3	Flat
£2,800	12/24	0.22 mi	-	3	Flat
£2,500	01/25	0.22 mi	-	3	Flat
£2,500	01/25	0.22 mi	-	3	Flat
£3,400	02/25	0.22 mi	-	3	Flat
£3,000	03/25	0.22 mi	-	3	Flat
£2,275	12/24	0.24 mi	West Street, Brighton, East Sussex, BN1	3	Flat
£2,200	02/25	0.24 mi	-	3	Flat
£2,500	12/24	0.25 mi	West Street Brighton BN1	3	Flat
£2,100	12/24	0.25 mi	Marlborough Mews, Brighton, BN1 3EB	3	Detached House
£2,275	12/24	0.26 mi	West Street, Brighton, East Sussex, BN1	3	Flat
£2,100	12/24	0.26 mi	Montpelier Road, Brighton	3	Flat
£2,850	12/24	0.27 mi	Hampton Place, Brighton	3	Flat
£2,730	12/24	0.28 mi	Middle Street, Brighton	3	Flat
£2,730	12/24	0.28 mi	Middle Street, Brighton	3	Flat
£2,495	12/24	0.29 mi	-	3	Terraced House
£2,100	12/24	0.29 mi	-	3	Terraced House
£2,495	12/24	0.29 mi	Sillwood Street, Brighton, BN1	3	Terraced House
£2,100	01/25	0.31 mi	-	3	Flat
£2,300	12/24	0.33 mi	Temple Street	3	Terraced House
£2,250	12/24	0.34 mi	Ship Street, Brighton	3	Flat
£2,850	03/24	0.36 mi	Little Western Street, Brighton & Hove	3	Terraced House
£3,000	12/24	0.36 mi	Borough Street, Brighton, BN1	3	Flat
£3,000	12/24	0.36 mi	Borough Street, Brighton, BN1	3	Flat
£2,200	03/24	0.37 mi	Waterloo Street, Hove, BN3	3	Flat
£2,100	02/25	0.4 mi	-	3	Flat
£2,500	03/24	0.41 mi	Brunswick Terrace, Hove, BN3 1HL	3	Flat
£1,875	12/24	0.41 mi	Montpelier Place, Brighton	3	Flat
£1,875	12/24	0.41 mi	Montpelier Place, Brighton	3	Flat
£2,900	12/24	0.44 mi	-	3	Flat
£2,900	02/25	0.44 mi	-	3	Flat
£2,295	12/24	0.44 mi	Embassy Court, Kings Road, Brighton	3	Flat
£2,750	12/24	0.45 mi	Dyke Road Brighton BN1	3	Flat
£1,950	03/24	0.46 mi	Cambridge Road, Hove	3	Flat
£3,850	03/24	0.46 mi	-	3	Flat

Local Area Statistics

Population in BN1	84,02184,021
Population in Brighton	208,224208,224
Town centre distance	2.06 miles away2.06 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.62 miles away0.62 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+6%+6%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+22%+22%

Property History

Listed for £400,000

August 28, 2024

Floor Plans

Description

Sold Prior to Auction +
3 Bedroom +
Views south towards i360 +
Remainder of 999 year lease +
Allocated Parking Space +

Sold Prior to Auction Guide Price £400,000+. A substantial 3 bedroom flat with views south towards the sea and i360 and rare allocated parking space. The block is situated on the corner of Regency Square and Kings Road and presents a rare opportunity to acquire a property in one of Brighton's premier addresses. The flat itself requires internal modernisation although the block is due to undergo substantial external redecoration. Further information will be available in the legal pack. The property is being sold with the remainder of a 999 year lease from June 1962. Cash buyers only.

Agent Details

Nicholas James, Hove

01273 109721

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

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Investment OpportunityOpen in Analyser

Local Sold PricesDownload Show map

Local RentsDownload Show map

Links

Local Area Statistics

Property History

Floor Plans

Description

Agent Details

Next Steps?

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Investment Opportunity

Local Sold Prices

Local Rents