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Gorsey Road, Nottingham NG3 4JL

PROPERTY TYPE

Semi-Detached

BEDROOMS

6

BATHROOMS

3

SIZE

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TENURE
Describes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.

Freehold

Key features

  • INVESTMENT OPPORTUNITY!: Freehold block of 3 apartments (total 3 flats, each with 2 bedrooms)
  • Loft ( +2 bed) and cellar conversion (+1 bed) potential for 2 additional flats
  • £31,200 current annual income (gross yield approx. 6.93%), uplift to £36,000 possible (8.00%)
  • Long-term potential to achieve over £36,000 annual income
  • Gas, EICR and all other compliance in order
  • 12-month major improvement project completed in 2015/2016
  • Roof, windows, wiring and plumbing upgraded
  • All flats EPC rated C
  • Off-street parking for Flat 1 | On-street parking available for all flats
  • Minimal void periods in this highly desirable location for professional Tenants

Description

Cavendish Residential are pleased to offer to the market this attractive freehold investment opportunity comprising 3 x self-contained two-bedroom apartments on Gorsey Road, Nottingham.

The property is currently producing approximately £31,200 per annum, representing a gross yield of approximately 6.93% based on the guide price. We believe there is scope for the income to increase to £36,000 per annum (and long-term even higher), which would represent a gross yield of approximately 8.00%+.

The building has been held by the current owner since 2015 and has benefited from a significant programme of improvement works. The owner has advised that these works included improvements to:

The roof
Windows
Brickwork
Repointing
Stonework
Full wiring
Plumbing
Central heating
Kitchens
Bathrooms
Drainage
Damp proofing
Insulation
Internal plastering
Flooring
Ceilings
Walls
Patios
Pathways.

Insulation works were carried out above the standard required at the time, helping support the current EPC C ratings. The Government has consulted on proposals to raise minimum energy efficiency standards for privately rented homes in England by 2030, so properties already at EPC C will certainly be better positioned than lower-rated rental stock if future rules tighten.

The property also has gas safety, EICR and licensing in place, with all flats separately serviced by their own utilities. This supports a clean and practical management structure for an incoming landlord.

The property also offers potential future asset-management opportunities. The owner has advised that the loft space is substantial and may offer potential for an additional two-bedroom apartment, while the cellar may offer potential for a one-bedroom or studio apartment. Any such works would be strictly subject to building regulations, feasibility, layout, access and all necessary consents.

There is one off-street parking space allocated to Flat 1. Flats 2 and 3 use on-street parking, with parking available on Gorsey Road and Fowler Street. The owner has advised that no parking permits are currently required.

Gorsey Road is well placed for Nottingham city centre, Mapperley, local amenities and public transport. Nottingham City Transport provides local bus journey planning across the city, while Nottingham’s tram network connects key destinations across Nottingham, supporting commuter access for tenants.

The surrounding area is likely to appeal to professional tenants and sharers wanting access to the city without being directly in the centre. Nearby amenities, transport links, parks and residential convenience all help support ongoing tenant demand.

With £31,200 immediate income, potential rental uplift, EPC C ratings, compliance in place, off-street parking and no onward chain, this is a focused, income-led investment opportunity in an established Nottingham rental location.

For more information, contact our team today.
COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
Band: A
PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
Driveway
GARDENA property has access to an outdoor space, which could be private or shared.
Yes
ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Gorsey Road, Nottingham NG3 4JL

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Affordability

Monthly repayments£2,257
Property: £ 450,000
Deposit: £ 45,000
Interest rate: 5.33%
Term: 30 years
Powered byNatwest
These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.
Extension potential
Recently sold & under offer
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About Cavendish Residential, Nottingham

One Fletcher Gate Adams Walk, Nottingham, NG1 1QS

Cavendish Residential is an independent, innovative and vibrant company specialising in lettings and management of quality residential properties in Nottingham, providing a professional service on a friendly level whilst being fully committed to delivering results.

With comprehensive lettings experience, state of the art software packages and an in depth knowledge of the Nottingham market, we pride ourselves on offering a pro-active, unique and personalised approach.

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Disclaimer - Property reference CVN_NTT_LFSYCL_685_872484847. 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 Cavendish Residential, 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.

*This is the average speed from the provider with the fastest broadband package available at this postcode. The average speed displayed is based on the download speeds of at least 50% of customers at peak time (8pm to 10pm). Fibre/cable services at the postcode are subject to availability and may differ between properties within a postcode. Speeds can be affected by a range of technical and environmental factors. The speed at the property may be lower than that listed above. You can check the estimated speed and confirm availability to a property prior to purchasing on the broadband provider's website. Providers may increase charges. The information is provided and maintained by Decision Technologies Limited.
**This is indicative only and based on a 2-person household with multiple devices and simultaneous usage. Broadband performance is affected by multiple factors including number of occupants and devices, simultaneous usage, router range etc. For more information speak to your broadband provider.

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