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Top Floor, The New Alexandra Court, Woodborough Road, Nottingham, Nottinghamshire, NG3 4LN

PROPERTY TYPE

Apartment

BEDROOMS

2

BATHROOMS

2

SIZE

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

Key features

  • Tenanted investment opportunity!
  • Currently let at £885 pcm (annual income £10,620)
  • Approximately 9.23% headline gross yield at £115,000
  • Top-floor apartment with stunning views
  • Large private balcony
  • Allocated gated parking
  • Established residential development close to Nottingham city centre
  • EPC Rating E (valid until 2030) | Council Tax Band C (Nottingham Council)
  • No chain
  • Cladding Safety Scheme funding confirmed – lender documentation available

Description

Cavendish Residential are pleased to offer for sale this well-proportioned top-floor apartment within The New Alexandra Court on Woodborough Road, conveniently positioned for access to Nottingham city centre.

The property is being sold as an established investment with the existing tenant remaining in occupation, currently paying £885 per calendar month, equivalent to £10,620 per annum.

The Property
The accommodation comprises an entrance hallway leading into a bright open-plan living, dining and kitchen area, with direct access onto a private balcony. There are two bedrooms and two bathrooms, including en-suite facilities to the principal bedroom, providing a layout particularly well suited to professional tenants and sharers. The apartment also benefits from gated allocated parking, while its top-floor position and private outside space add further appeal within the development.

Census data analysis of the surrounding 1 km catchment identifies more than 24,000 residents and over 10,000 households, with approximately 35% of households privately rented. Around 72% of local residents are of working age, while apartments account for approximately 44% of the local housing stock, demonstrating an established market for rented apartment accommodation.

For investors, these figures indicate an established and sizeable rental market, with a strong working-age population and a high proportion of existing renters and apartment occupiers, helping support ongoing tenant demand and future re-letting prospects.

Building Safety & Cladding Safety Scheme
The New Alexandra Court has been confirmed as eligible for funding through the Cladding Safety Scheme. Homes England has confirmed that the Responsible Entity has entered into contract with the scheme and appointed a professional team to design and undertake the relevant works. Importantly, the letter confirms that costs relating to the external-wall remediation recommended within the FRAEW will not be passed on to leaseholders. A copy of the Homes England lender letter and supporting building information can be made available to prospective purchasers and their mortgage advisers.

Investment Information
The property is offered for sale with the existing tenancy in place, allowing a purchaser to acquire an income-producing investment without the initial void period normally associated with sourcing a new tenant.
Current rent: £885 pcm
Annual rental income: £10,620
Headline gross yield: approximately 9.23%
Illustrative buy-to-let finance information:
Purchase price: £115,000
Illustrative 25% deposit: £28,750
Illustrative 75% mortgage: £86,250
Current rent: £885 pcm / £10,620 pa
Service charge: approx. £2,500 pa
Ground rent: approx. £150 pa
Using an illustrative interest-only borrowing cost of 5.5%, mortgage interest on £86,250 would be approximately £395 pcm / £4,744 pa.
This would leave approximately £3,226 per annum / £269 per month after illustrative mortgage interest, service charge and ground rent, but before management fees, maintenance, insurance, taxation, mortgage/product fees, voids and other landlord costs.
This example is for illustration only and is not a mortgage offer or financial advice. Mortgage availability, rates and terms will depend on the purchaser's circumstances, lender criteria, valuation and the lender's assessment of the property and development. Prospective purchasers should obtain advice from an appropriately authorised mortgage adviser. Please contact Cavendish Residential for further property and investment information.
Further tenancy, leasehold and building-safety documentation is available from Cavendish Residential on request.
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.
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PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
Off street
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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Top Floor, The New Alexandra Court, Woodborough Road, Nottingham, Nottinghamshire, NG3 4LN

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Affordability

Monthly repayments£580
Property: £ 115,000
Deposit: £ 11,500
Interest rate: 5.38%
Term: 30 years
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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.
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_872476918. 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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