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•Auction Date: 26th & 27th May 2020
•One Bedroom Apartment
•Ideal city centre investment opportunity
•Let to Premier Apartments with no fixed contract in place
•Leasehold – approx. 110 Years
The property is located within the Ice House apartment complex on Belward Street, within Nottingham City Centre. The Ice House is situated next to the Motorpoint Arena and opposite the National Ice Centre. There are a wide range of amenities within the vicinity including a choice of restaurants and shopping facilities.
This property comprises a modern and well-presented one-bedroom apartment located on the second floor of this purpose-built block.
The property is an ideal ‘hands off’ investment opportunity and is currently managed by Premier Apartments. The serviced apartment has a proven financial record and benefits from a long lease of approximately 110 years.
The accommodation offers an open plan kitchen and lounge area with duel aspect floor to ceiling windows, a double bedroom with large built in cupboard for storage, and modern bathroom with fitted three-piece suite.
Kitchen – 2.59m x 2.04m
Lounge – 5.74m x 3.1m (max)
Bedroom – 2.68m x 3.17m
Bathroom – 2.53m x 1.61m (max)
Total – 39.14 Sq. M. (421 Sq. Ft)
The property is currently let to Premier Apartments but with no fixed contract in place, achieving an annual income of around £6,360 pa.
We are advised that the apartment could however be leased privately and could be let for around £70 per night mid-week and £95 per night on weekends, taking into account void periods the property could be let on a nightly basis and could achieve in the region of £15,000 pa gross. If private letting is to take place the owner must notify the management company prior to commencement.
We would advise all interested parties to make their own enquiries.
Long leasehold – 110 Years remaining
Ground rent - £200 pa
Service charge - £1,374.57 half yearly
We understand the property has mains electricity, water and drainage. However, interested parties are advised to carry out their own investigations.
2% (min. £3,600) inc. VAT
Viewings are available by appointment only please contact a member of the John Pye Property team today 0115 970 6060.
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