Currently let at £750pcm (£9,000pa) — immediate rental income
Second-floor, two-bedroom leasehold apartment offered at auction with immediate rental income. Currently let at £750pcm (£9,000pa), the property presents a high gross yield against the guide price, making it a clear income opportunity for investors prepared to buy at auction.
The flat has an open-plan kitchen/living area with Juliette balcony, two double bedrooms, a fitted bathroom, double glazing and electric storage heating. It includes one allocated off-street parking space and a secure intercom entry — practical features for long-term lets in a city location.
Important sale details: this is an unconditional auction lot. A 10% deposit (minimum £5,000) and a buyer’s administration fee (£1,200 + VAT) apply on exchange, with completion typically required 28 days after the sale. The lease runs 125 years from 2005 (110 years remaining).
Location strengths include excellent transport links to Nottingham city centre, the Queens Medical Centre and local shops; nearby schools have broadly good Ofsted ratings. Buyers should note the property sits in a more deprived area with a local profile of social renting and mixed commercial amenity.
Practical considerations: electric storage heating can be costly for tenants compared with mains gas, and the unit will be sold with sitting tenants — viewings require notice. The auction route and additional fees mean this suits cash buyers or investors experienced with auction purchases.
