Situated in the dynamic NG7 area of Nottingham, this unbroken freehold block featuring five apartments offers an intriguing investment opportunity for those prepared to revitalize property. With four two-bedroom apartments and one one-bedroom unit, it boasts a strong rental potential catering to various tenant demographics. Currently, two of the units are generating rental income at £750 and £700 per month respectively, while three remain unoccupied, with two needing some refurbishment to enhance their attractiveness. This property clearly presents a scenario where targeted renovations could yield significant returns.
Currently estimated to generate £43,800 annually in its present condition, this block has even more upside potential thanks to previously granted planning permission for three additional apartments. By reinstating this approval, you could aim for an enhanced estimated rental value of around £69,000 per year and a gross development value potentially reaching between £900,000 and £1,000,000 upon full optimization.
Owning the freehold provides complete management control without complexities associated with leaseholds—making it a straightforward yet promising addition to any investment portfolio. If you're looking to engage in a project that combines immediate cash flow with future growth possibilities, this property presents multiple avenues for enhancement and profit.
