Block of apartments for sale

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Block of apartments for sale

111 Forest Road West, Arboretum, NG7 4ES
£495,000

Our Summary

  • To the rear of the property is a coach house which has had planning consent granted to create a further two bedroomed plus study, self-contained flat which can be viewed under Nottingham City Council's planning reference 21/01285/PFUL3
  • Some of the proposed flats have been refurbished to a 'first fix' condition (stud wall partitions, plumbing and electrics), with others requiring full refurbishment to bring them to a habitable condition
  • The coach house also requires full refurbishment

Description

The property is a substantial Victorian, detached house located on Forest Road West, approximately one mile northwest of Nottingham city center and near Nottingham Trent University's city campus. The property has been split and partly converted to provide five self-contained flats, with two already sold on a long lease and three vacant. The building has undergone some refurbishment, including a new roof and uPVC double glazed window units, but some flats and the coach house require further work to bring them to a habitable condition. The property is being sold on a long leasehold basis with Nottingham City Council retaining the freehold, with a peppercorn ground rent and certain conditions, including completion of any remaining work and advertising the properties for occupation within a set timeframe. The price for the long leasehold is £870,000, with no VAT applicable.
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