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9 bed property, in Radford Road, £550,000
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9 bed property

Radford Road, Nottingham, NG7 7EA
Auction Planning
£550,000

Our Summary

  • Being sold via Auction
  • Lapsed Planning for additional 3 Units
  • At present, two of the apartments are let at £750 pcm and £700 pcm, providing an immediate income stream, while the remaining three units sit vacant, two of which would benefit from a touch of refurbishment to truly shine
  • It’s that classic scenario: a bit of effort in, and a tidy uplift out
  • But here’s where it gets interesting… the property also benefits from lapsed planning permission for three additional apartments
  • Flat 1 Ground floor two bedroom apartment EPC rating of "C", Floor size 65 sqm Flat 2 Ground floor two bedroom apartment EPC rating of "C", Floor size 53 sqm Flat 3 First floor two bedroom apartment EPC rating of "C", Floor size 46 sqm Flat 4 First floor two bedroom apartment EPC rating of "D", Floor size 52 sqm Flat 5 Ground floor one bedroom apartment EPC rating of "C", Floor size 23 sqm Auctioneer Comments Offered via the Modern Method of Auction through Brookvale Auctions

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Description

The property is a freehold block of five apartments located in the NG7 postcode of Nottingham. It consists of four two-bedroom units and one one-bedroom unit, with two of the two-bedroom apartments currently let at £750 pcm and £700 pcm. The apartments range in size from 23 to 65 square meters, and have EPC ratings of "C" or "D".

The property also benefits from lapsed planning permission to allow for the construction of three additional apartments, which could increase the estimated total gross development value to £900,000 to £1,000,000.