Summary - APARTMENT 11, THE ZONE, CRANBROOK STREET NG1 1EJ
1 bed 1 bath Apartment
Compact city-centre one-bed with strong rental potential — auction sale, lease considerations apply..
City-centre location with excellent transport and local amenities
Open-plan living/dining and fitted U-shaped kitchen with appliances
Double bedroom; light and airy first-floor apartment
Potential gross rental yield advertised above 8.5%
Lease 78 years remaining — may prevent mortgage approval
Service charge ~£1,600pa and ground rent £189pa
Sold by modern auction—reservation fee and buyer's fees apply
High local crime statistics; area classified as deprived
Located on Cranbrook Street in the heart of Nottingham city centre, this first-floor one-bedroom apartment offers compact, modern living arranged over approximately 415 sq ft. The open-plan living/dining room with an adjacent U-shaped kitchen and double bedroom make it a straightforward city pad or rental unit. On-site features include secure intercom entry, passenger lifts and gas central heating.
The building’s central location and strong rental demand in this multicultural student neighbourhood underpin the advertised potential gross yield in excess of 8.5%. Appliances are integrated and the flat is offered with no onward chain, making it suitable for an investor seeking a quick purchase through the Modern Method of Auction.
Buyers must note material drawbacks: the lease has 78 years remaining which may prevent many high-street mortgage lenders from offering standard lending. Sale via auction incurs a non-refundable reservation fee (4.8% of the purchase price, minimum £6,600) plus buyer fees; a Buyer Information Pack (£300 inc. VAT) is required. Ongoing costs are notable — service charge circa £1,600pa and ground rent £189pa — and the area records higher crime levels.
This apartment suits cash buyers or specialised buy-to-let investors who accept auction purchase fees and short lease considerations. It provides immediate rental potential in a well-connected city-centre location, but buyers should obtain lender confirmation and factor in costs for extending the lease and ongoing service charges before bidding.
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