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Lower Parliament Street, Nottingham NG1

East Midlands

£1,150,000

Listed on 15/05/2026

Property Details

Bedrooms
N/A
Type
Residential Development

Description

This redevelopment site presents a significant investment opportunity in the heart of Nottingham, strategically located adjacent to the Motorpoint Arena and National Ice Centre. The current structure, a public house known as the Nottingham Legend, is primed for transformation following the granted full planning permission for its demolition. Plans are in place for a modern five-storey building dedicated to student accommodation, featuring 59 bedrooms that include 14 studios and 12 cluster flats. The proposed development aims to enhance the community with essential amenities such as communal lounges, kitchens, a cinema room, laundry facilities, office space for management, and thoughtfully designed landscaped areas. Situated within Nottingham’s Creative Quarter and near key local attractions such as Nottingham Trent University and the Lace Market, this project is well-positioned to cater to one of the strongest student markets in the East Midlands.

Investment Analysis

(NG1 area)
Area Average
£225/sq ft
Avg Rent (weekly)
£226
Avg Yield
8.1%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£1,500,000 - £2,000,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
8
Average per month
Market Turnover
3%
Properties sold annually

Local Market Trend (NG1)

Area prices are falling by -15.1% over the last 12 months
3 year growth: -14.9%
5 year growth: -24.2%
Investment Disclaimer: Analysis based on NG1 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Lower Parliament Street, Nottingham NG1
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£4,345
Based on a loan of £862,500 over 30 years at 4.45% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

Stamp Duty Calculator

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