Key Features

  • Freehold Investment Opportunity
  • Five Apartments
  • Gross Rental Income - £73,400 pa
  • Net Rental income - £63,400 pa
  • Yield 7.25%
  • Off Road Parking
  • Recently Converted
  • Fullly Let
  • Furnished
  • Accomodation Schedule Available on Request

Description

Investment Opportunity - FHP are delighted to bring to market this beautiful detached property, fully furnished, consisting of five fully let recently converted apartments. Situated on a busy travel route into the city centre on the corner of Woodborough Road and Manning Street, a short work from both the City Centre and Mapperley's high street. The property is a detached three storey building built of brick, beneath a pitched tiled roof retaining all of its character features.

The property provides off road parking to the rear alongside free street parking surrounding the property.

The building has a superb track record of 100% occupancy with minimal voids throughout the year.

It is important to note that every apartment has its own bedroom and kitchen facilities and is individually metered being totally self contained with no shared facilities.

LOCATION The building is located at the junction of Woodborough Road, Manning Street and Plowright Street, Nottingham. Existing access to the site is from a pedestrian gate off Woodborough Road and a vehicle entrance from Plowright Street. The site is within a short walking distance of the City Centre, is surrounded mainly by residential properties and is located on the outskirts of the City Centre, within a 15 minute walk of the Victoria Centre, local parks and a supermarket. The locality is ideal for people without cars with several buses available at nearby stops which go towards the City Centre and out towards Gedling and Woodborough, along Woodborough Road and through the Mapperley shopping centre area.

PLANNING A former veterinary practice purchased in 2018 and converted into five stunning apartments (Planning Ref: 17/02381 PFUL3 and 18/02679/ PFUL3 ).

THE PROPERTY The property is a detached three storey building built of brick, beneath a pitched tiled roof retaining all of its character features. The property provides off road parking to the rear alongside free street parking surrounding the property. The building has a superb track record of 100%
occupancy with minimal voids throughout the year. At ground floor level there are 2 x two bedroom apartments with hallway leading to the front and rear entrances. The first floor consists of 1 x one bedroom apartment and 1 x two bedroom apartment alongside landing and entrance hall. The second floor consists of a 1 x one bedroom apartment. Alongside this the property also has a basement
where the individual meters are housed alongside providing further storage if needed by existing
tenants. It is important to note that every apartment has its own bedroom and kitchen facilities and is individually metered being totally self contained with no shared facilities.

ONGOING COSTS AND MAINTENACE - The current costs are estimated at circa £10,000 per annum. Comprising utilities (gas, electric, water), internet, annual insurance premium, cleaning and general repair work throughout the year. A schedule of costs can be provided by the agent upon request

PLEASE CONTACT Anthony Barrowcliffe at FHP Property Consultants - DD: 0115 8411148 M: 07557 972008 E: anthony@fhp.co.uk

Greg Fieldhouse at FHP Living - DD: 0115 6715609 M: 07917460028 E: greg@fhpliving.co.uk



Virtual Tour

Location

Click and drag the Pegman on to the highlighted area of the google map to zoom down to street level.