Mishon Welton says ..

Property Oracle says ..

The property is a 2 bedroom, 2 bathroom apartment located on King’s Esplanade in Hove, East Sussex. It’s situated in Central Hove, offering a desirable coastal location. The apartment boasts stunning sea views, as evidenced by the provided images. Proximity to Hove train station provides convenient transport links. Several well-regarded schools are within a reasonable distance, making it potentially attractive to families. The apartment’s condition appears to require significant renovation. The images show outdated fixtures, worn carpets, and peeling wallpaper throughout. The kitchen and bathrooms are particularly dated and would need complete modernisation. This extensive need for renovation is a significant factor impacting the overall value. While the plot size is not insignificant at 1,035.36 sqft, it’s important to note this is for an apartment and therefore the land is not a significant factor in the overall assessment. The sea views are a significant positive aspect of the property’s location. Considering the average price per sqft in the area is £601, and the apartment is 440.13 sqft, a reasonable expectation might be around £264,700. The list price of £575,000 is significantly higher than this estimate. This discrepancy is likely due to the highly desirable location and sea views, but the significant need for renovation must be factored in. The higher list price compared to the average price in the area (£477,292) also needs to be considered. Nearby comparable properties on King’s Esplanade support the higher price point, although the lack of sqft data on those properties makes direct comparison difficult. However, the condition of the subject property is markedly different and significantly impacts its value.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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