Summary - 8, MAYFAIR WALK, OXFORD STREET NG10 1JR
3 bed 1 bath Block of Apartments
Immediate rental income, garden and clear scope for refurbishment and rent uplift.
Approximately £15,000 pa current rental income (two flats let)
Freehold, mid-terraced Victorian block with garden
Some damp and general renovation required throughout
Flats A and C have no EPCs; Flat B rated E
Electric heating throughout; no gas safety dependency noted
HMO classification; periodic inspections required (no licence)
On-street parking by permit (tenant pays Nottingham City Council)
Auction sale: 5% deposit and non-refundable buyer’s fees apply
This mid-terraced Victorian property on Oxford Street has been converted into three flats and is offered freehold at auction. Two of the three flats are currently tenanted, producing an approximate combined income of £15,000 pa with scope to increase rents after refurbishment. The block includes a garden, high ceilings and period features that appeal to tenants and add conversion/upgrade potential.
The flats require varying degrees of work: there are reported damp issues, some renovation needs and the property uses electric heating throughout. Flat B has an EPC rating of E; Flats A and C currently have no EPCs (access not provided) and will not be supplied. Fire doors, hard-wired smoke/heat detectors and emergency lighting are installed; the building is classed as an HMO and requires periodic inspections rather than a licence.
Practical considerations for a buyer: on-street parking requires a paid permit (tenant responsibility), internal access is restricted by tenancies, and the sale is by auction with binding contracts, a 5% deposit and non-refundable buyer fees. The location offers good transport links, local amenities and nearby schools, though the wider area shows higher crime and local deprivation indicators.
For an investor prepared to manage tenant access and undertake targeted refurbishments, this large block offers immediate rental income, a low council tax band and upside from rent increases or longer-term refurbishment and EPC improvements. Buyer due diligence and review of the legal pack are advised prior to bidding.
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