The Crescent, Newark, NG22

Eastwell Court, The Crescent, Newark NG22 8UZ
FREEHOLD BLOCK OF 9 APARTMENTS + LARGE PLOT
Mix of One and Two Bedroom Units

Guide Price: £540,000

A standout opportunity for investors and developers. This freehold block comprises nine self-contained apartments, arranged as a mix of one bedroom and two bedroom units, all set on a generous plot with extensive land to the rear. The property offers huge potential for refurbishment, reconfiguration, enhanced parking or future development (STPP).

Why Eastwell Court Stands Out

• Freehold block providing full control of the building and land
• Nine apartments comprising a mix of one bedroom and two bedroom units
• Large rear plot ideal for parking, storage, garden areas or further development (subject to planning)
• Significant value-add potential through refurbishment
• Strong local rental demand with scope for attractive returns
• Quiet residential setting with convenient access to Newark, Mansfield and the A614

The Opportunity

Eastwell Court is a genuine value-add asset. The apartments require renovation, giving buyers a chance to modernise, increase rental returns or reposition the block entirely. The sizeable plot behind the building provides clear scope for expanded parking or additional structures, subject to planning. The property is well suited to developers, portfolio landlords and investors looking for a high-yield multi-unit opportunity.

Rental Potential

Based on conservative local figures (depending on finish after refurbishment):
• 1-bed apartments: approx. £475 pcm
• 2-bed apartments: approx. £595 pcm

Using these estimates, the block has the potential to generate around £57,000 per year, giving an approximate 10.5% gross yield at the guide price of £540,000.

Location

Set within a peaceful residential crescent in NG22, close to everyday amenities and key commuter routes. A practical and high-demand area for renters.

Please note: The floorplan is provided for guidance only — the internal layout may differ from the current arrangement.

Auctioneers Comments

This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold). If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding

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The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax. Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Any payment that will be received by the Agent or Auctioneer will be confirmed to you in writing before services are taken. Services are optional.