Summary - 24 THE MILLS BUILDING, PLUMPTRE PLACE, NOTTINGHAM, NOTTINGHAM NG1 1HD
1 bed 1 bath Apartment
Bright open-plan apartment with long lease and strong rental potential.
Open-plan one-bedroom apartment with large front-facing windows
Very long lease: 974 years remaining
Annual service charge approx. £3,886 (significant running cost)
To be sold at auction — 10% deposit and buyer fees apply
EPC rating C; mains gas boiler and radiators
Located in Lace Market — strong student and city-centre rental demand
Area classified as student neighbourhood; pockets of deprivation exist
Secondary glazing; fast broadband and excellent mobile signal
This one-bedroom apartment in The Mills Building offers a compact, city-centre home with clear investor appeal. The open-plan living space and large front-facing windows provide bright, low-maintenance accommodation in Nottingham’s Lace Market, a well-known student and city-centre rental market. The property benefits from a very long lease (974 years) and fast broadband, making it straightforward to let to students or young professionals.
Practical positives include a contemporary kitchen with integrated appliances, a double bedroom with fitted storage, and an EPC rating of C. The building’s Victorian-industrial character and high ceilings give the apartment curb appeal and potential for strong short-term rental interest or steady long-term tenancy.
Buyers should note material sale details: the property is leasehold and will be sold at auction, with binding contracts exchanged on the sale day. Annual service charges are significant (£3,886 average) and any additional auction fees and the required 10% deposit (minimum £5,000) will apply. The immediate area is a cosmopolitan, student-focused neighbourhood with pockets of deprivation—good for yield but it brings variable tenant profiles and management considerations.
Overall this is a practical, city-centre investment with low vacancy potential and clear income prospects, provided purchasers factor in service charges, auction costs, and the on-the-ground management needs of a student-oriented location.
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