Summary - Apartment 3, The Lambs Building, 1-4 South Parade NG1 2JS
2 bed 1 bath Apartment
Ready-made central rental with immediate income and strong yield.
Two double bedrooms, open-plan living with city-square views
A two-bedroom apartment in The Lambs Building, overlooking Nottingham Market Square, offers immediate rental income and strong central location appeal. Recently renovated and sold furnished, the property is currently let to September 2025, producing an annual rent roll of £15,600 (gross yield ~7.8%). The open-plan living area, large windows and contemporary finishes deliver straightforward city-centre lettings potential.
Practical costs and constraints are clear: this is a leasehold flat (approximately 243–250 years remaining from 2018), with an annual service charge around £1,404–£1,514 and ground rent billed at £300–£600 per year depending on source. Heating is electric with room heaters and the EPC is D; running costs can be higher than gas-heated homes. There is no on-site parking.
The building is an Edwardian mixed-use corner property with high ceilings and characterful red-brick facades, which helps demand from students and professional tenants in this multicultural urban area. Note the local area records very high crime levels and a generally deprived neighbourhood profile — factors to weigh for long-term capital growth and tenant mix. Buyers should verify licensing and safety certificates and budget for ongoing service charges and higher energy spend.
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