Two-bedroom city-centre apartment with strong rental potential — sold at auction.
Grade II listed former cotton mill building with original character
Set within the Grade II listed Linen House section of a converted 1896 cotton mill, this two-bedroom apartment combines period character with practical city-centre convenience. The apartment offers a light open-plan living room and kitchen, two double bedrooms, generous internal storage and high ceilings evident in the original mill architecture.
This property is being sold via the Modern Method of Auction and is offered leasehold with 129 years remaining. Service charges average £1,800pa and ground rent is £450pa — factor these running costs into affordability. The vendor states a potential rental of approximately £975pcm (gross yield c.15.6%), making it most suitable to investors or buyers prepared to refurbish for rental income.
Buyers should note the flat is in a very deprived area with higher local crime rates than average. The building’s listed status will restrict alterations and may complicate refurbishment plans. Mechanical and electrical systems, heating and sanitary ware have not been tested — purchasers should arrange their own inspections.
The sale is by auction and carries buyer fees (reservation fee 4.5% of purchase price, minimum £6,600). This route requires completion within a fixed reservation period and additional costs for the Buyer Information Pack and optional services. The property is small (c.527 sq ft) and suits investors, first-time buyers willing to accept leasehold constraints, or buyers seeking a characterful city-base close to Nottingham centre.
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