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7 bedroom apartment for sale

Foxrose Courtyard, Aberdeen St

Offers in Excess of £425,000

Property Description

Key features

  • 7 bed student investment opportunity
  • 2 x two bed flats and 1 x three bed flat
  • Gross Income of 30,960 per annum
  • Well Established Student Location
  • 1 mile from NTU campus
  • Low Maintenance Costs
  • Leasehold Sale
  • Nottingham has student population in excess of 60,000
  • Adjacent Site with potential for planning or short term use for parking
  • Yield of 7.3% on the current income

Full description

Tenure: Leasehold

NOTTINGHAM Nottingham is a University City containing two large universities.

The university of Nottingham is a Russell Group University and regularly features in the global top 100. It currently enrols 32,515 students and has 3 campuses in Nottingham, as well as a campus in Malaysia.

Nottingham Trent University was recently voted Times University of The Year as well as Modern Unviersity of The Year. This is an incredible achievement to beat well established institutional universities for this award. NTU currently enrols 29,370 students and also features 3 campuses in Nottingham.

Both universities join to provide a student population in excess of 60,000 students and close to 30% of the Cities total population are aged between 18 and 29.

Nottingham is centrally located around 2 hours north of London, 1 hr 15m north east from Birmingham and 1 hr 45m south east from Manchester. The City has two large hospitals, two large shopping centres owned by Intu, internationally known sporting venues and a vibrant retail and leisure scene. The Victoria Centre Shopping Centre has a catchment population of 1.2m and an annual footfall of 2.4m people.

Nottingham is therefore a City that is growing in stature and size, with key focus on the continued development of the universities and student property sector.  

FOXROSE COURTYARD Foxrose Courtyard is a block of 3 flats containing a total of 7 bedrooms, split as 2 x two bed flats and 1 x three bed flat. The flats comprise part of a substantial building with accomodation arranged on ground and two upper floors constructed by owners circa 2002 fronting onto Aberdeen St. The majority of the ground floor consists of a main show room together with 6 flats, 3 of which have already been sold off.

The flats are spacious and larger than the average student accomodation. The flats are currently rented for between £85 and £95 pp pw exc bills which is a slightly below average rent for Nottingham. It is acknowledge that rental uplift can be achieved through improvement of the asset.

All flats are rented on 48 week leases, exclusive of bills

With large scale developments such as IQ exchange, Hockley Point and Seely House all within a short walk, the area has proven and established demand. 

THE PROPOSAL The flats will be sold on 3 long leases for a term of 999 years on the same terms as previous sales within the building. Bath St Management Company Ltd has been set up to manage the estate. Once the 3 flats at Foxrose Court are sold, there is a binding contract between the vendor and management company, where the management company can take a transfer of the freehold of the estate.

The management company will therefore effectively become the landlord and the vendors will have no further involvement with the estate and the vendors will have no further involvement with the estate. Each of the flat owners and the owner of the retail unit will have shares in the management company and an obligation to become Directors of that company, if so required.

Offers are invited in excess of £425,000 for the 3 flats

The adjacent site on Handel St is also available for offers in excess of £50,000 


More information from this agent

Listing History

Added on Rightmove:
29 May 2018

Nearest stations

  • Lace Market (0.4 mi)
  • Old Market Square (0.6 mi)
  • Royal Centre (0.6 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

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To view this property or request more details, contact:

FHP Living, Nottingham

Number One, Weekday Cross Nottingham NG1 2GB

0115 798 0189 Local call rate

How much will it cost me to call the number displayed on the site?

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Map & Street View

Nearest stations

  • Lace Market (0.4 mi)
  • Old Market Square (0.6 mi)
  • Royal Centre (0.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

FHP Living, Nottingham

Number One, Weekday Cross Nottingham NG1 2GB

0115 798 0189 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 102431009654. 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 FHP Living, 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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