Commercial property for sale in Nottingham

LOCATION: Hall Drive is situated in a popular residential location, approximately half a mile southwest of Beeston town centre and within five minutes' walk of two NET tram stops.  DESCRIPTION: The property comprises a detached, three storey building providing eighteen apartments. Each apartment has been fully refurbished within the last 24 months. The 18 apartments comprise 6 x one beds and 12 x two beds.  The one bed apartments comprise a lounge/kitchen-diner, bedroom and bathroom, whilst the two bed apartments comprise a lounge/dining, separate kitchen, bathroom and separate WC. Each apartment also has the benefits from a single garage, located on site.  The specification to the apartments include:-  - Fitted kitchens with electric hob with extraction hood and built in oven - All apartments have fitted bathrooms with electric showers - Carpeting and laminate flooring throughout  ACCOMMODATION: Each one and each two bed apartment are identical in size and layout and comprise the following gross internal area:-  One Bed Apartment (x 6): 46.5 sq m (502 sq ft) Two Bed Apartment (x 12): 58.9 sq m (634 sq ft)  TENANCIES: The 18 apartments are let on standard Assured Shorthold Tenancies for a period of six months. A full tenancy schedule is available upon request.  RENTS: The 18 apartments currently provide a gross rent of £178,380 pa. A full breakdown of individual apartment rents can be provided upon request.  OVERHEAD COSTS INCURRED BY THE LANDLORD: The landlord currently provides for communal area repairs, buildings insurance, heat, light and power to communal areas, and general maintenance, and in the year 2023/24, these costs totalled approximately £23,000.  SERVICES: Each apartment benefits from an electric and water supply.  TENURE: The property is held freehold, subject to the Assured Shorthold Tenancies described above.  PRICE: The property is available to purchase at:- £2,800,000  This figure represents a yield of 6.0%, based on the gross rent receivable but taking in to account purchaser's costs of 6.38%  PLANNING: C3 (Dwelling Houses)  EPC: Each of the apartments has a separate EPC with ratings from C through to E.  A full list of the EPC's for each individual apartment is available upon request.  VIEWINGS, PLANS & FURTHER INFORMATION: To view the property and for further information, including floorplans, please contact the sole selling agent, Jonathan Emmerson at heb Surveyors.  MARKET COMMENTARY: The residential lettings market in Beeston is buoyant and is underpinned by a strong local demographic, with excellent rates of employment from local and national companies, including Boots Plc. In addition, both The University of Nottingham and Queen's Medical Centre, one of Europe's largest teaching hospitals, are also located close by.  Many of the apartments are let at rents below the market rent and there is the opportunity for a purchaser to increase rents in line with market values.  In addition, freehold values for apartments within the immediate locality have risen substantially over the last five years, with capital values now exceeding £300 per sq ft for one and two bed apartments.  CLICK LINK BELOW FOR BROCHURE

Commercial property for sale in Nottingham, England

Commercial development for sale

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