Project Description

Location
The subject property is located on Highbury Road, 0.5 miles from Bulwell town centre.

There is direct access to Nottingham city centre by either the regular bus or tram service.

In addition, junction 26 of the M1
Motorway is just a 10 minute drive away via Cinderhill Road and in turn the A610.

Description
The property was previously four Edwardian town houses and has been tastefully converted to form 4 two bedroom dwellings, 3 one bedroom dwellings and a retail unit currently being occupied by a sandwich shop.

Some of the units benefit from many original features such as deep coving and high skirting boards.
Property numbers 106-110 inclusive are identical in their layout. The one bedroom ground floor units have a large bay fronted bedroom to the front elevation of the building, a spacious lounge, fitted kitchen and bathroom to the rear, In addition the ground floor units have the benefit of a cellar accessed from the kitchen.

The two bedroom units located upstairs consist of large lounge to the front elevation, fitted kitchen, three piece bathroom suite and to the second floor there are two bedrooms.

Number 112 consists of a two bedroom duplex flat accessed from the side of the property and a well established sandwich shop to the ground floor.

Throughout all the units there are hard wired smoke detectors and emergency lighting.
To the rear of the property accessed from the side of the sandwich shop there is a large secure car parking area, space for dustbins and sufficient shared outdoor free space for leisure.

Services
We understand the property is connected to mains gas, electric, water and drainage.

Tenure
Freehold

Council Tax
We understand the properties are in council tax band A.

*Guide Price
£400,000

Investment Analysis
It is envisaged that following some light refurbishment the 2 bedroom flats will achieve £450 pcm each (£5,400 pa) and the one bedroom flats will achieve £395 pcm each (£4740 pa). The retail unit currently pays £350 pcm. TOTAL: £40,020.

We have been informed by the vendor that they are currently experiencing a 50% occupancy for the units, however due to the strong rental market in this area we believe this could easily be increased to maximum occupancy.

VAT
The property is not subject to VAT

LEGAL PACK
johnpye.co.uk.auctiondocs.com

Viewing by Appointment

To view this property, please contact John Pye Property – property@johnpye.co.uk – 0115 970 6060

Please click the following link to access the legal pack documents – http://www.johnpye.auctiondocs.com/

Address

106-112 Highbury Road,
Bulwell
Nottingham
NG6 9DQ

Features

✓ Excellent investment opportunity
✓ Four large converted houses
✓ 4 x 2 Bedroom Flats
✓ 3 x 1 Bedroom Flats
✓ 1 x Retail Unit
✓ Potential Rent £40,020 pa
✓ Potential Gross Yield 10%
✓ Currently part let and income producing £16,692 pa
✓ Potential to add Value
✓ Strong Rental Market

Contact

Matt Kirk
Phone: 0115 970 6060
Email: property@johnpye.co.uk
Our Ref: PR124

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