Nottingham, NG8 5DH | Investment Property for Sale | VES-NG8-002

Tenanted apartment in Nottingham, generating £6,900 in rent pa and a gross yield of 7.7%

£90,000

Apartment

VES-NG8-002

INITIAL INVESTMENT

£41,140

GROSS RENT / YIELD

£6,900 / 7.7%

NET RENT / YIELD

£4,123 / 4.6%

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The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£250

SERVICE CHARGE

£797

2 bedrooms

1 bathroom

1 reception room

TBC

Fully Furnished

  • Length of lease: 125 years from December 2005

Tenancy

RENT

£6,900 p.a. / £575 pcm

TENANCY DEPOSIT

£788

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

9 months ago

TENANCY AGREEMENT ENDS

9/3/2019

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to the property is supplied by the vendor and the latest available at the date of listing.

Certain information may expire or become inaccurate over time and should be verified by the purchaser’s solicitor.

Financials

Rental Income

GROSS RENT PER ANNUM

£6,900

Equivalent of £575 per calendar month (PCM).

GROSS RENTAL YIELD

7.7%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£4,123

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

4.6%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£2,777

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

This information is for illustration purposes only and does not constitute advice. It is correct at the time of writing. For advice specific to your personal circumstances, please speak to a financial adviser.

About Nottingham, East Midlands

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.

Property Spotlight

  • 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.

Demographics

  • 2019 population is estimated at 781,151 and is one of the youngest in the UK (28% aged 18 and 29, compared to 16% nationally).
  • Offers a high-quality workforce of over 1.1 million people within its recruitment catchment area ensuring that businesses won’t be short of talent (27% educated to degree level versus 27% nationally).

Connectivity

  • 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.

Bar Lane,

Nottingham,

Nottinghamshire,

England,

NG8 5DH

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