R2RSA in Marine Parade

"R2RSA in Marine Parade, Worthing"

Sourced are pleased to present another exceptional opportunity to take on a absolutely stunning 2-bedroom beachfront flat for R2RSA in Worthing, Sussex. The property is of an incredibly high standard and is in an exceptional location for serviced accommodation. The flat benefits from high-end kitchen appliances, a breakfast bar, two stunning bedrooms, a fully equipped b

athroom and of course a stunning coastal view from a large balcony. The flat could not be in a better location for access to the stunning Worthing Pier and if that wasn't enough the town centre and train station are a short walk away.

The unit will comfortably be able to sleep up to 5 guests. The total rent payable for the unit is £1,900 which does not include bills. The financial figures provided also allow for management costs and OTAs and the profit is net after all costs.

The unit is available on a 3-year contract. This investment will be fully managed by our managing agent, making it as hands-off as possible for you. We'll also get you set up on our online platform so you have full visibility of bookings/revenue. The management fee is 14% + VAT of net revenue. This includes full management covering everything from check-ins, check-outs, cleaning and maintenance.

You can pay for the furniture in cash which will be £6,000 inc. VAT. Alternatively, you can utilise a different form of funding you have access to such as a credit card, bank loan or asset finance.

Pictures, location details and a detailed financial breakdown are available on request.

Sourcing fee of £4,000 inc. VAT applies.

The Financials
▪ Rent: £1,900
▪ Ongoing monthly costs (including approx. bills): £376
▪ Average nightly rate: £245
▪ Revenue at 70% occupancy: £5,217
▪ Revenue at 85% occupancy: £6,335

▪ Deposit: £1,900
▪ Sourcing fee: £4,000
▪ Furniture: £6,000
▪ Total Upfront Cash Required: £11,900

▪ Monthly profit at 70%: £1,491
▪ Annual profit at 70%: £17,895
▪ Profit over 3 years at 70% (assuming no increase in nightly rates): £53,684

▪ Monthly profit at 85%: £2,298
▪ Annual profit at 85%: £27,582
▪ Profit over 3 years at 85% (assuming no increase in nightly rates): £82,745

▪ ROCE over 1 year at 70%: 150%
▪ ROCE over 3 years at 70% (assuming no increase in nightly rates): 451%
▪ Months till profit: 8