Sourced are pleased to present another exceptional opportunity to take on a stunning 2-bedroom Penthouse flat for R2RSA in Worthing, Sussex on a 5-year agreement. The property has also been completed renovated to an incredibly high standard, ready to be set-up for serviced accommodation. The flat also benefits from a private roof terrace which is of course a unique and eye-catching feature for the SA market. Two large double bedrooms with ensuites and a modern electric heating system with fitted solar panels will ensure this is one of the best units in the area. Worthing Beach and Pier are within a 10-minute walk ensuring that the location is as enviable as the property itself.

The unit will comfortably be able to sleep up to 6 guests. The total rent payable for the unit is £1,925 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 5-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.

The total investment figure provided is based upon financing the furniture cost and paying it monthly to reduce the initial cash investment. We can refer you to our finance provider who will arrange this for you. In order to qualify for financing, at least one company director/guarantor must be a personal homeowner. Financing is are also dependant on credit rating, financial history and length of term. Average numbers for a 3-year term are given in our figures. Alternatively, you can pay for the furniture in cash which will be £6,000 inc. VAT.

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

Sourcing fee of £3,750 inc. VAT applies.

The Financials
▪ Rent: £1,925
▪ Ongoing monthly costs (including approx. bills and furniture costs)*: £641
▪ Average nightly rate: £224
▪ Revenue at 70% occupancy: £4,770
▪ Revenue at 85% occupancy: £5,792

▪ Deposit: £1,925
▪ Sourcing fee: £3,750
▪ Total Upfront Cash Required**: £5,675

▪ Monthly profit at 70%: £878
▪ Annual profit at 70%: £10,540
▪ Profit over 5 years at 70% (assuming no increase in nightly rates): £52,699

▪ Monthly profit at 85%: £1,616
▪ Annual profit at 85%: £19,397
▪ Profit over 5 years at 85% (assuming no increase in nightly rates): £96,683

▪ ROCE over 1 year at 70%: 186%
▪ ROCE over 5 years at 70% (assuming no increase in nightly rates): 929%
▪ Months till profit: 6

Sourced endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and are not to be relied as statements of representation or fact. The selling agent may or may not be the sole agent and will provide confirmation upon request. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency given. All measurements have been taken as a guide and are not precise, please be aware some of the details may be waiting vendor approval. If you require confirmation or further information, please contact the selling agent. Fixtures and fittings are to be confirmed with the seller and not relied upon when listed. Sourced are not responsible for any loss of monies due to the purchase or purchase process with any property listed.