stamp duty: £36,000
mortgage fees: £1,500
conveyancing fees: £3,000
NO OF UNITS
TOTAL SQ FT
PRICE SQ FT
Please note that this is an off-market opportunity that is available to qualified buyers only.
Please get in touch and quote the reference number above to speak to a member of our sales team who can advise on the information that will be required from you in order for us to be able to share more detailed and confidential information related to the opportunity.
Opportunity to acquire an apartment block with freehold located in Nottingham. The block comprises 3 flats of 7 bedrooms each (21 bedrooms total).
All 3 flats are fully let and generate a total annual rental income of £54,600. The tenancy agreements are FRI leases that are periodically extended, with the current leases ending in October/November 2021. The forecasted total rent after the leases have ended is £87,960, based upon Local Authority Rent. There are no running costs to bear for the landlord, so the net rental yield is the same as the gross rental yield. The lessee is a social housing provider and we have been advised that no HMO licence is required under the current agreement.
With regards to the condition of the property, the vendor advised that redecorations including new flooring and bathrooms may be required.
The vendor is seeking offers in the region of £1,200,000 (inclusive of freehold).
Please contact our sales team for further details.
Documents available on request, please contact for viewings or further questions.
The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.
Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.
Nottingham is a city in the county of Nottinghamshire in the East Midlands. It is situated 45 miles northeast of Birmingham, 56 miles southeast of Manchester and 128 miles north of London.
Currently the UK’s ninth largest city, Nottingham has a thriving jobs market as well as affordable property prices - making it a popular choice for property investors.
Capital appreciation has been very promising in Nottingham in recent years. In the last year alone, house prices have increased by almost 6%. At approximately £157,000, median house prices in Nottingham are far lower than the UK average of £217,000.
Net rental yield in Nottingham increased from 5.6% in 2017 to 6.2% in 2018, leading to joint first in This Is Money's top 10 list of buy-to-let hotspots in 2018.
With two large universities attracting over 63,000 students each year, a steadily growing population and a sluggish construction industry, it’s safe to say that demand will remain high for buy-to-let properties in Nottingham for the foreseeable future.
Significant investment into the local transport infrastructure over the past few years (over £1billion) including expanding it's award-winning tram network and investing in one of the UK’s best public transport networks.
Access to almost 90% of the UK within four hours thanks to excellent motorway and rail connections ensures that businesses can operate at a national level from Nottingham.
East Midlands Airport offers daily flights to European business hubs as well as connections to over 150 worldwide destinations.
Over 70 trains a day direct into London St Pancras.
Business & Employment
Fastest growing city economy in the East Midlands region and growing faster than Birmingham, Liverpool and Sheffield.
Major tourist destination, with the sixth highest tourism spending in all of England.
Leads the way in a number of industries including financial and business services, creative and digital, life sciences and advanced manufacturing.
Economic growth has been made a major priority in recent times supported by billions of investment into infrastructure, skills hubs to drive excellence and growing their digital economy.
Over 50 national and regional companies have chosen Nottingham as their headquarters. Today, it's home to major brands like Boots, E.ON, Experian, Call Credit, Center Parcs, Speedo, Wilkos, Capital One and Paul Smith.
A city full of cultural and entertainment attractions and so has seen a significant increase in tourism in the last decade.
Visitors contributed over £1.8bn to the economy in 2017 and the city centre was voted the 5th in Experian’s list of the top of 15 UK retail areas.
The heart of this retail centre is based on Bridlesmith Gate and the two main shopping centres are the Intu Victoria Centre and Intu Broadmarsh.
Point of reference - not exact location,
All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.
Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.
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