7 bedroom residential development for sale

Former Lord Nelson Pub, Percy Street, Nottingham NG6 0GE

Guide Price £400,000

Property Description

Key features

  • Residential Investment Opportunity
  • Former Public House converted into 7 studios / flats
  • Current Gross Rent 39,520 Per Annum
  • Planning application lodged for the development of 18 self contained units

Full description

Tenure: Freehold

Fully Let Residential Investment Opportunity with potential for further extension
Current gross rent 39,520 per annum
Former public house converted into 7 self contained studios / flats
Planning application lodged for the development of 18 self contained units

Location:
The property is located at the junction of Percy Street and Cowley Street in the Old Basford area of Nottingham.

This is a predominantly residential area positioned approximately 3 miles to the north of Nottingham city centre.

The property is well served with public transport links into the city centre with the David Lane Tram Stop being 500m away.

Description:
The property comprises a former public house which sits on a site of approximately 0.4 acres and provides for ample car parking spaces. The building itself has been converted to provide 5 self contained studio flats on the ground floor with a further 2 self contained 1 bedroomed flats on the first floor.

In addition, there is also a shared laundry room on the ground floor together with basement space.

The conversion of the building was completed in 2012, Planning Ref: 12/01602/PFUL3.

Development Opportunity:
Plans have been submitted by the applicants Architects, Henry Mein Partnership for the development of the site to provide 18 se, to be developed in a new building.

The application has been submitted but not yet decided, Application No. 15/01322/PFUL3.

Guide Price:
400,000

Tenancies:
The current building is fully let at rents between 100 and 120 per week.

The lettings do include for the landlord to pay the majority of the utilities and outgoings, further details are set out below.

All the properties are let on Assured Shorthold Tenancies.

Flat: - Type: - Rent Per Week:
Flat 1: - Studio - 110
Flat 2: - Studio - 110
Flat 3: - Studio - 100
Flat 4: - Studio - 100
Flat 5: - Studio - 110
Flat 6: - 1 bedroom flat - 110
Flat 7: - 1 bedroom flat - 120

Notes:
Flats 1 to 5 - the tenants pay own Council Tax

Flats 6 & 7 - the tenants pay own gas and Council Tax

Summary of Income and Expenditure:
Current Gross Rents: - 39,520 per annum
Current Outgoings: - 18,408 per annum

Total Net Rents Received: - 21,112 per annum

Outgoings:
We have been provided with the following costs for the last 12 months outgoings as follows:-

Cost: - Amount:
Severn Trent Water - 5,100
Electricity - 10,560
Waste Collection - 600
WiFi - 648
Oil /Heating System - 1,500
Total Outgoings: - 18,408

VAT:
Vat is not applicable to the sale price.

EPC'S:
Flat 1: - C
Flat 2: - E
Flat 3: - E
Flat 4: - E
Flat 5: - E
Flat 6: - D
Flat 7: - D

* PLEASE CLICK THE LINK BELOW TO VIEW THE BROCHURE *

More information from this agent

Nearest stations

  • Basford (0.2 mi)
  • David Lane (0.2 mi)
  • Highbury Vale (0.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

HEB Property Consultants, Nottingham

Apex Business Park Wilford, Nottingham, NG11 7DD

0115 798 0513 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Basford (0.2 mi)
  • David Lane (0.2 mi)
  • Highbury Vale (0.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

HEB Property Consultants, Nottingham

Apex Business Park Wilford, Nottingham, NG11 7DD

0115 798 0513 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference FormerLordNelson. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by HEB Property Consultants, Nottingham. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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