Property Information
Address:
Retlaw Court And Westmaner Court, Hall Drive, Nottingham
, NG9 5DQ
Price: Property no longer available.
Size: 1004 to 2008 sqm
Primary Category: Investment
All Categories:
Investment, Land,
Property Ref/Movehut: MH665204
Property Ref/Agent: 8068
*Please use the agent ref when calling the agent directly.
Property description
The property comprises two brick built, three storey residential apartment blocks surmounted by flat roofs, each with its own separate garage block. The apartment blocks, known as Retlaw Court and Westmaner Court, are identical in layout and specification with the exception that Retlaw Court has gas central heating whilst Westmaner Court has electric storage heating. The properties are entered via lobbies with wooden framed single glazed doors with Georgian wire glass. The communal areas consist of concrete staircases and corridors with plastic tiled flooring and a mix of fluorescent and LED lighting.
The flats, 12 of which are one beds and 24 of which are two beds, are finished to a mix of refurbished and non-refurbished specifications with uPVC double glazed windows and carpets throughout. The kitchens have wall and base units and, within the Westmaner flat.
kitchens, immersion heaters whilst in the Retlaw kitchens a combination boiler unit. The one bed properties have a bathroom with a bath, toilet and basin whilst in the two bed properties the toilet is separate. Externally the 36 brick-built garages are attached in a terrace formation.
Fully let residential investment opportunity
36 self contained units (24 x 2 bed and 12 x 1 bed)
across two buildings including garages
Gross rental income of £191,640 pa.
Potential market rent of £255,960 pa reflecting a reversionary yield to ERV's of c.9.4%
Offers sought in excess of £2,725,000 (subject to contract), a purchase at this level reflects a GIY of 7%
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