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42 Forest Road West, Nottingham, NG7 4EQ

Guide Price
£275,000
Added on 17/11/2021
Nottingham Property Plus, Nottingham
PROPERTY TYPE
Detached
BEDROOMS
×8
BATHROOMS
×8
SIZE
3,175 sq. ft.
(295 sq. m.)

Key features

  • A Late Victorian Detached Villa with approx. 295m² (3175 sq ft) of accommodation.
  • 7 x Bed Sits & 1 x 1 Bedroom Flat
  • Renovation Opportunity
  • Property being sold via a 999 year lease interest
  • Unit 4 subject to a 91 year lease
  • Closing date for offers is 12pm on Wednesday 15th December 2021

Property description

Tenure: Leasehold, 999 years remaining

Summary

A late Victorian solid brick and slate, three-storey detached property comprising seven spacious and independently accessed bedsits and a one-bedroom flat to the upper floor. The property benefits from a courtyard garden to the rear with gated access to the front.

The property requires modernising throughout but offers a fantastic opportunity in one of Nottingham's most vibrant and 'up and coming' redevelopment areas.

The property is within walking distance of the NET Tramline, Nottingham High School, and University and Nottingham City Centre is just 1.1 miles to the south of the property.

*As part of the lease, the purchaser will be required to convert the property into flats rather than bed sits.

Property Description

Access is gained to the front of the property via a traditional open fronted brick storm porch. The front door leads through into an internal entrance corridor where stairs rise to first floor level at the rear. Each floor consists of the following.

Ground floor level

To ground floor level, and accessed from the central hallway, are four self-contained bedsits, Flat 4 of which is subject to a long lease with 91 years remaining and a ground rent of £10 per annum. £10,000 cap on recharges for external / communal area works (in the first 5 yrs)

First floor level

To first floor level and accessed from a central galleried landing area are a further three bedsits with adjoining shower rooms. All bedsits are of a good size with No 5 & 7 having bay windows overlooking the front aspect of the property.

Second floor level

To the second floor and accessed via a private staircase and landing area is a one bedroom flat consisting of a lounge/dining room, a kitchen, a bedroom and a bathroom.

Outside Areas

Pedestrian access and small gravelled courtyard area to the front with vehicular side access leading to courtyard to the rear.

Location

Located to the West of the Arboretum Park the property is ideally positioned close to Nottingham High School, Nottingham Trent University and Nottingham City Centre and associated shops and restaurants are just 0.5 miles to the south. The property is just a 5 minute walk from the NET Tram stop and also has fantastic road and public transport links to the wider City, ring road and M1 motorway.

Planning Policy

Nottingham is an Article 4 Direction Area and the immediate vicinity of Forest Road West is designated as an area of Archaeological Constraint under the Local Plan. The property is not listed but is within a conservation area. The effect of these various allocations is that the Planning Authority will be more strict in their consideration of any works or additions to be undertaken to the property, and use as a multi-let/bed sit accommodation will not be permitted (such uses will be restricted within the lease in any case - further explained below).

Tenure

The property is located within the Council's 'Multiple Occupation Restraint' area (also applied to other areas of the City) and is not to be redeveloped for student accommodation.
With a view to supporting the regeneration vision of balancing the tenure and occupier mix in the Arboretum Area to improve the quality and duration of occupation by households, a 999 year ('virtual freehold') interest will be sold.

This will include a covenant limiting their use to RESIDENTIAL USE ONLY by single occupiers or persons living together, as a family, within the individual units. The Purchaser is to undertake the attached comprehensive scheme of works within 12 months of completion of the property transfer.

Method of Sale

The site is to be sold by Informal Tender. Your offer and supporting information should be presented in the following format by:

12pm on Wednesday 15th December 2021

Offers should be made in full by the closing date and time and emailed to:

SEE BROCHURE

The email must be titled:

OFFER: 42 FOREST ROAD WEST

and must include the following information:

Details of the proposed use and details of development proposals including detail of proposed layout , number of flats and bed spaces.

Name and address of the purchaser, with a summary of track record

Proof of funds available for the purchase and any proposed redevelopment
Solicitors details

Note - The Council is not bound to accept the highest or any offer.

Costs
In addition to the purchase price an additional charge of 3% of the sale price will be charged on completion by the vendors as a contribution to the costs involved in the selling of the property.

Price
Guide Price £275,000

Viewings
Strictly by prior appointment with Nottingham City Council. Viewings can be arranged by emailing

SEE BROCHURE

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About the agent

Nottingham Property Plus, Nottingham

Loxley House, Station Street, Nottingham, NG2 3NG

Property Plus is the trading name for Nottingham City Council’s Strategic Assets and Property Directorate. Property Plus manage and let the Council’s largest commercial portfolio and sell and let surplus operational property assets - a vast variety of property types! If you’re looking to rent or buy in Nottingham, Property Plus should always be your first port of call”

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Disclaimer - Property reference 42ForestRoadWest. 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 Nottingham Property Plus, 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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