No longer on the market
This property is no longer on the market
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Key information
Features and description
- Freehold block of nine self-contained apartments with full control of building
- Mix of one and two bedroom units ideal for steady rental demand in the local area
- Clear value-add opportunity through refurbishment of all apartments and common areas
- Strong rental and yield potential once modernised, with solid demand
- Quiet residential location with good access to Newark, Mansfield and major transport links
- For Sale by Modern Auction – T & C’s apply, subject to reserve price, buyers fees apply
Eastwell Court, The Crescent, Newark
FREEHOLD BLOCK OF 9 APARTMENTS (BUILDING ONLY)
Mix of One and Two Bedroom Units
Guide Price: £540,000
A standout opportunity for investors and developers. This freehold block comprises nine self-contained apartments, arranged as a mix of one-bedroom and two-bedroom units.
Important clarification:
The sale relates to the building and apartments only. The land to the rear is NOT included in the sale and does not form part of the guide price.
The property offers strong potential for refurbishment, reconfiguration and enhancement of the existing accommodation.
Why Eastwell Court Stands Out
• Freehold block (building only – land not included)
• Nine self-contained apartments
• Mix of one-bedroom and two-bedroom units
• Significant value-add potential through refurbishment
• Strong local rental demand with scope to improve returns
• Quiet residential setting with convenient access to Newark, Mansfield and the A614
The Opportunity
Eastwell Court represents a genuine value-add asset. The apartments require renovation, giving buyers the opportunity to modernise, improve rental returns or reposition the block within the market.
No external land forms part of the sale. The opportunity is strictly limited to the existing building and its current accommodation.
Rental Potential
Based on conservative local rental estimates (subject to finish and refurbishment):
• 1-bed apartments: approx. £475 pcm
• 2-bed apartments: approx. £595 pcm
Using these figures, the block has the potential to generate around £57,000 per annum, giving an approximate 10.5% gross yield at the current guide price.
Location
Set within a peaceful residential crescent in NG22, close to everyday amenities and key commuter routes. A practical and high-demand area for renters.
Please note:
• Land to the rear is NOT included in the sale
• Floorplans are provided for guidance only and the internal layout may differ
Rooms
Auctioneers Comments
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold). If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding
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The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax. Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Any payment that will be received by the Agent or Auctioneer will be confirmed to you in writing before services are taken. Services are optional.
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