Summary - Collingham, Newark NG23 7NN
1 bed 1 bath House
Income-producing Victorian building with garden, garages and development potential.
Gross income £21,600 per annum from four flats
A substantial freehold investment in Collingham offering immediate income and development upside. Four self-contained flats in a large Victorian red-brick building produce a gross income of £21,600 per annum and are fully let with minimal void periods, making this a hands-off income purchase for a buy-to-let investor or portfolio buyer.
The property was converted circa 1980 into four flats (three assured shorthold tenancies and one long leasehold flat with 88 years remaining). The site includes a generous garden, a block of four lock-up garages and an additional area of land north of the garages — all of which present scope for value enhancement subject to planning permission. The building sits within the Collingham conservation area and benefits from nearby amenities, a primary school, and a railway station.
Buyers should note material considerations: one flat is subject to a long lease with 88 years unexpired and a £30 p.a. ground rent; the lease places some repair and cost-sharing obligations on the lessee for external staircase and insurance contributions. Interiors are generally dated and will require updating over time; utilities and services are connected, but broadband speeds in the area are slow. Planning and building works (for garage/land development) would be subject to local authority consent.
Overall, this is a secure, income-producing freehold with clear short-term cashflow and mid-term value-add potential through refurbishment or development, suited to investors comfortable managing mixed tenure obligations and modest refurbishment programmes.
High street retail property for sale in 107-109 High Street, Collingham, Newark, NG23 7NG, NG23 — £425,000 • 1 bed • 1 bath • 3002 ft²
3 bedroom detached house for sale in 2 Brooklands Close, Collingham, Newark, Nottinghamshire, NG23 7NN, NG23 — £275,000 • 3 bed • 1 bath • 1052 ft²
4 bedroom detached house for sale in High Street, Collingham, Newark, NG23 — £450,000 • 4 bed • 3 bath • 2041 ft²
3 bedroom town house for sale in Newark Road, Lincoln, LN5 — £195,000 • 3 bed • 3 bath • 1446 ft²
3 bedroom terraced house for sale in Windsor Close, Collingham, Newark, NG23 — £210,000 • 3 bed • 1 bath • 902 ft²
3 bedroom apartment for sale in High Street, Collingham, Newark, NG23 — £165,000 • 3 bed • 1 bath • 965 ft²
