18 Bed Apartment
Offers in the Region of £1,300,000
Derby Road, NOTTINGHAM, Nottinghamshire, NG7 1LR
About the Property
**ATTENTION INVESTORS** Fully Licensed 18 Double Bedroom HMO | 2 Commercial units | 9% gross yield | Within the catchment areas of both universities and short walk to Nottingham Town Centre
- Newly refurbished
- Ensuite rooms
- New furniture
- Modern Interior
- Tv's included in all rooms
- Large balcony with seating
- Catchment for both Universities
- Within walking distance to Nottingham City Centre
- Let for 2018-19 academic year
- Commerial units Let until 2020
The scheme, extensively refurbished last summer, is split over three HMO flats with 18 rooms, 16 of which are ensuite. There are also two offices on the ground floor with leases to Quality Students and top365 Sales.
The property was extensively refurbished in 2016 with all kitchens, bathrooms, flooring and furniture replaced; the sale price includes all fixtures and fittings.
The residential flats are let until August 2019.
All HMO licences were recently renewed in October 2016.
Due to the location of the site the property is extremely popular to students at both Nottingham Trent and Nottingham University.
This site is sold inclusive of a five year management agreement with top365 ltd, the terms of this agreement will be supplied upon request.
The three HMO flats
- Open Plan Kitchen and Dining Room, fully furnished with wall mounted TV.
- All have en-suite shower rooms and wall mounted tv's and double beds.
- The bathrooms have recently been installed with modern interior.
- Fully fitted kitchen with all white goods well exceeding the minimum HMO amenities requirements.
Large Communal Balcony
- Fitted with BBQ and seating for 10 people
- Perfect for BBQ's and parties. Great communal living with amazing cinema room and en-suites and TV's to every double bedroom. A five-minute walk between the Nottingham City Centre and Lenton, an ideal location for Nottingham-based students. There is a bus stop opposite the front door.
COMMERCIAL OFFICES Both ground floor offices are currently let on new five year commercial leases that expire in 2020. Quality 4 Students unit achieves £4,500pa and the Top365 sales unit £6,000pa.
166A DERBY ROAD 8 Double en-suite bedrooms all fully Let until August 2019 for £130pppw inclusive of bills achieving the gross total income of £54,080
166B DERBY ROAD 5 Double bedrooms three of which are en-suite and two share a shower room. The en-suite rooms are Let for £125pppw and the non en-suite rooms £115pppw inclusive of bills. The flat achieves the total gross income of £30,680.
164A DERBY ROAD 5 Double bedrooms 3 of which are en-suite and two share a shower room. Let until August 2018 and currently on the market for 2018-19 academic year as room Lets or to a group of 5. The potential gross income for this flat would be £36,920.