Summary - 7, Castle Gardens NG7 1HH
1 bed 1 bath Studio
Compact, income-ready studio near university, rented and ready for refurbishment or continued let.
- Proven rental income: last tenant paid £750 pcm
- Small studio: approx 377 sq ft, compact living space
- Lease c.60 years remaining; lenders may refuse mortgages
- Service charge approx £1,500 pa; ground rent £200 pa
- Buyer’s Premium £6,600 and legal fee £396 payable on sale
- South-facing balcony and one allocated gated parking space
- Electric storage heating; building from late 1970s–early 1980s
- Auction sale with Buy It Now option; complete due diligence advised
A compact upper-ground studio in Lenton, close to Nottingham University, QMC and local shops. The open-plan living/bedroom opens onto a south-facing balcony and includes one allocated gated parking space — features that appeal to students, commuters and buy-to-let landlords.
The flat has a proven rental history, most recently let at £750 pcm, and is offered through an online auction with a Buy It Now option. Note the advertised example yield (nearly 13% at a £70,000 purchase) and fast broadband and excellent mobile signal make the flat lettable for students and professionals.
Important practical points are clear: the lease has about 60 years remaining and some mortgage lenders may refuse to lend. Annual costs include a service charge around £1,500 and ground rent £200. Heating is via electric storage heaters and the building dates from the late 1970s–early 1980s.
The sale route and fees are material: the property is sold by online auction and successful buyers must pay a non-refundable Buyer’s Premium of £6,600 (inc. VAT) plus a legal pack fee of £396 (inc. VAT). Prospective purchasers should read the legal pack closely and carry out their own surveys and finance checks before bidding.
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