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Station Road, Langley Mill, Nottingham

East Midlands

£500,000
Listed on 12/10/2023

Property Details

Bedrooms
N/A
Type
Detached house

Description

This property presents a compelling opportunity for renovation or redevelopment, currently utilized as a car wash and vehicle sales lot on a 0.3-acre site. The existing lease agreements can be provided upon request, offering potential buyers insight into current operations. The property comes with approved planning permission for the construction of 14 two-bedroom apartments, complete with 21 secure parking spaces and associated amenity areas (referenced under AVA/2007/1165). Importantly, a land contamination study has already been completed, which can streamline further development processes. Notably, the design includes ground floor units that are fully accessible, adhering to modern accessibility standards. The total proposed floor area is approximately 915 square meters (9,850 square feet), highlighting the scale of this investment opportunity. Additionally, there is planning approval for a change of use that would allow for continued operations as both a car wash and a vehicle sales outlet (AVA/2020/0861). The site’s flexibility means it could potentially accommodate various other uses—subject to obtaining necessary permissions—including a care home, hotel, or retail space. Strategically located within walking distance to Heanor Town Centre and Langley Mill Station, the property benefits from excellent transport links via the nearby A610 bypass, providing easy access to the M1 motorway, Nottingham city center, and the scenic Peak District. The surrounding area features numerous cafes and shops as well as bus routes connecting to neighboring towns and Giltbrook Shopping Park. Overall, this site not only offers immediate operational potential but also significant long-term investment possibilities in an evolving neighborhood.

Investment Analysis

(NG16 area)
Area Average
£237/sq ft
Avg Rent (weekly)
£211
Avg Yield
4.6%

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
63
Average per month
Market Turnover
17%
Properties sold annually

Local Market Trend (NG16)

Area prices are rising by +2.7% over the last 12 months
3 year growth: 5.7%
5 year growth: 27.5%
Investment Disclaimer: Analysis based on NG16 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

Station Road, Langley Mill, Nottingham
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£1,832
Based on a loan of £375,000 over 30 years at 4.19% 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.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE