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2 bed flat
Wallis Street, Nottingham, Nottinghamshire, NG6
Auction
£420,000
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Our Summary
- | 10%+ Yield | Development Potential | Modern Method Auction An excellent opportunity to acquire a high-yielding mixed-use investment comprising 4 residential units and 8 commercial/storage units, currently producing approximately £48,120 per annum, reflecting a gross yield of circa 10
- 7%) • Scope to increase rents (undervalued units identified) • Potential development opportunities (subject to planning) • Secure, gated yard with CCTV Asset Management Opportunities: • The Mews Flat and Units 4–6 are currently let at below market rent, presenting immediate reversionary potential • Potential to optimise layout, rental structure, or explore redevelopment (STPP) Accommodation & Income Breakdown: • Flat 54A – 2 bed – £10,080 p
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Description
The property is a mixed-use investment with 12 units, comprising 4 residential units and 8 commercial units. The residential units are arranged as three 2-bedroom flats and one 1-bedroom mews flat. The commercial units include four that generate £3,900 per year each, three that generate £1,980 per year each (although undervalued), and one that generates £11,400 per year.
The property has a secure, self-contained yard accessed via an archway beneath one of the residential flats, and a gated entrance with CCTV.