Summary - Mercia House Mercia House Flats 4-8 Mercia House, Albert Street, Mansfield, Nottinghamshire, NG18 1EB NG18 1EB
7 bed 5 bath Apartment
Five flats with strong headline yield and clear asset management upside.
Freehold block of five flats: 3x1-bed, 2x2-bed
A freehold block of five self-contained flats in the heart of Mansfield town centre, offered for sale by public auction. The portfolio comprises 3 x one-bedroom and 2 x two-bedroom apartments with current rent reserved of £39,120 per annum, reflecting a net initial yield of 13.3% at the guide price. All ASTs are holding over, creating clear scope for rent review and asset management.
The building presents a straightforward investment play: prominent Albert Street frontage, walking distance to Mansfield train and bus stations, immediate proximity to St Peter’s Retail Park and multiple national occupiers. There are two long‑lease retail units previously sold off, and two adjacent car parks will also be offered separately in the same auction lot list, improving short-term letting and parking options for tenants.
Buyers should note material risks plainly. The property sits in a very deprived area with very high local crime levels; this can affect demand, tenant profiles and management costs. Several tenancies are holding over, so some units may be occupied on expired AST terms. The building will be sold at auction and is associated with a public notice/repossession, so purchasers must allow for auction timing, legal pack due diligence and potential management or refurbishment costs to stabilise income.
This is aimed squarely at experienced investors or portfolio buyers who can mobilise funds quickly and deliver active asset management. With good transport links and retail catchment, there is realistic upside through re‑letting, targeted refurbishment and rent reversion, but purchasers should budget for management, security and possible refurbishment work to maximise returns.
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