Masson House, Arkwright Walk, NG2 2LP

LOCATION:
Masson House is situated to the south of Nottingham city centre. The property offers easy access to the city centre with Nottingham train station being only 0.2 miles away, and is within close proximity to major employers including Nottingham City Council, Capital One and the Inland Revenue.

DESCRIPTION:
The property comprises a detached, four storey building providing 16 apartments over four floors together with private rear car park with 16 spaces.

Each apartment has two bedrooms, open plan kitchen / living area and bathroom / WC.

The specification to the apartments include:-

- Fitted kitchens with electric or gas hob with extraction hood and built in oven
- All apartments have fitted bathrooms with electric showers
- Carpeting and laminate flooring throughout

ACCOMMODATION:
The 16 apartments are of a similar type, however, there are two slightly different layouts. All the apartment are the same size:-

Two Bed Apartments (x 16): 52 sq m (560 sq ft)

TENANCIES:
All the apartments are let on standard Assured Shorthold Tenancies for a period of six months. A full tenancy schedule is available upon request.

RENTS:
The 16 apartments currently provide a gross rent of £157,920 pa and the current rents range from £770 - £885 pcm. A 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 and light to communal areas, and general maintenance. Full details are available upon request.

SERVICES:
Each apartment benefits from an electric, gas 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:-
£2,420,000

This figure represents a gross yield of 6.13%, based on purchaser's costs of 6.37%. The purchaser's costs assume that the property is purchased by a limited company.

PLANNING:
C3 (Dwelling Houses)

EPC:
All of the apartments have an EPC rating of B.

VIEWINGS AND FURTHER INFORMATION:
To view the property and for further information, including floorplans, please contact the sole selling agent, Matthew Hilton at heb Surveyors.

MARKET COMMENTARY:
The building is within easy walking distance of Nottingham city centre and Nottingham train station. There is a high demand for good quality accommodation and the property is currently 100% let with a number of large employers in the immediate vicinity.

The asking price represents a capital value of £2,909 per sq m (£270 per sq ft).

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