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£4,950,000 guide price

57 bedroom apartment for sale

Hounds Gate, Nottingham

£4,950,000 guide price

57 bedroom apartment for sale

Hounds Gate, Nottingham

Description

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Property features

  • Unique Investment Opportunity
  • High Spec Student Development
  • 11 Self-Contained Apartments
  • 57 En-Suite Bedrooms in Total
  • Let & Managed Until August 2020
  • City Centre Location. EPC Ratings B/C

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Property description

Located in the heart of thriving Nottingham City Centre, this high profile investment property has previously undergone a full refurbishment programme (including the replacement of windows throughout with UPVC double glazed units).

The impressive building has been converted to provide 11 luxury self-contained student apartments, and a total of 57 bedrooms over all. Fitted to a high standard, the apartments enjoy modern kitchens, spacious living areas, en-suite bedrooms and a guest wc. Residents also have access to a pleasant communal courtyard at the rear.

The property is successfully let and managed, producing income until August 2020.

Conveniently situated for access to numerous University sites, and to a wealth of facilities in Nottingham City Centre, the property presents an exciting investment opportunity.

66-72 Hounds Gate - 66-72 Hounds Gate has been fitted and finished to a high standard.

With comfort, safety and convenience carefully considered, the property offers a wealth of features including:-

Internet Connection - There is a 200Mb leaseline for occupants internet useage.

The property also has fully hardwired internet connections throughout.

Fob Entry & Key System - A fob entry system allows ease of access for residents to the entrance door of the main building.

A further suited key system enables viewings and maintenance visits to go ahead easily, with a single key allowing access throughout the building, or individual access per apartment.

Each tenant can be furnished with a key that provides them with access to the apartment which they live in, and their own room.

Cctv - There is a CCTV system which covers the communal entrance door at the front of the building, the entrance lobby, the internal communal corridors and the landings, plus the rear courtyard and all external angles.

Courtyard - Residents have access to the pleasant communal courtyard, at the rear of the property.

External Bicycle Store - An external bicycle store has been provided for the use and convenience of residents.

Apartment Features - Each apartment boasts a kitchen/living space complete with modern wall and base units, granite work surfaces, induction hobs, a comprehensive range of fully integrated appliances, and a flat screen Smart TV.

Alongside living space and en-suite bedrooms, every apartment has a guest wc.

The apartments enjoy the security of a video entry phone system.

Bedrooms & En-Suite Shower Rooms - Bedrooms have been furnished with bespoke bedroom furniture including beds, wardrobes, chest of drawer units, desks, and wall mounted flat screen Smart TV.

En-Suite shower rooms have fully tiled shower enclosures with overhead rainfall showers and a separate detachable shower head, plus an LED mirror with shaver socket.

Accommodation - The property is divided into eleven self-contained apartments, arranged over five floors and providing a total of 57 (en-suite) bedrooms:-

Flat One - Situated on the LOWER GROUND FLOOR level, with FOUR BEDROOM ACCOMMODATION.

Flat Two - Situated on the LOWER GROUND FLOOR level, with THREE BEDROOM ACCOMMODATION.

Flat Three - Situated on the LOWER GROUND FLOOR level, with THREE BEDROOM ACCOMMODATION.

Flat Four - Situated on the GROUND FLOOR level, with FOUR BEDROOM ACCOMMODATION.

Flat Five - Situated on the GROUND FLOOR level, with EIGHT BEDROOM ACCOMMODATION.

Flat Six - Situated on the FIRST FLOOR level, with SIX BEDROOM ACCOMMODATION.

Flat Seven - Situated on the FIRST FLOOR level, with SEVEN BEDROOM ACCOMMODATION.

Flat Eight - Situated on the SECOND FLOOR level, with SIX BEDROOM ACCOMMODATION.

Flat Nine - Situated on the SECOND FLOOR level, with SEVEN BEDROOM ACCOMMODATION.

Flat Ten - Situated on the THIRD FLOOR level, with THREE BEDROOM ACCOMMODATION.

Flat Eleven - Situated on the THIRD FLOOR level, with SIX BEDROOM ACCOMMODATION.

Please Note - The vendors of this property have a connection with Thomas James Estate Agents. This should have no bearing on the sale of the property and should cause no concern to prospective purchasers.

Rent & Income - The gross rent for 2018/19 is £292,125.00. (This is for a shorter academic year, occupation usually starts 1st August but this year it commenced 1st October, due to the build programme).

The gross rent for 19/20 is £376,250.00. This gives a gross yield of 7.6% with a net annual yield of approx. 6.5%.

Rent & Income (Cont'd) - The current owners of the property stress that, in their opinion a realistic and achievable rent would be £140.00 to £145.00 per room, per week in the current market. They have made the decision to offer reduced rents to their tenants in the past, simply to ensure successful lets.

Let to full potential, the property would generate £413,250.00 at £145.00 per room per week. This would represent a gross annual yield of 8.3% with an approximate net annual yield of just over 7%.

Sales Particulars - These sales particulars have been prepared by Thomas James Estate Agents on the instruction of the vendor.

Disclaimer Notes - Services, equipment and fittings mentioned in these particulars have NOT been tested, and as such, no warranties can be given. Prospective purchasers are advised to make their own enquiries regarding such matters.

These sales particulars are produced in good faith and are not intended to form part of a contract.

Whilst Thomas James Estate Agents have taken care in obtaining internal measurements, they should only be regarded as approximate.

Money Laundering - Under the Protecting Against Money Laundering and the Proceeds of Crime Act 2002, Thomas James require any successful purchasers proceeding with a purchase to provide two forms of identification i.e. passport or photocard driving license and a recent utility bill.

This evidence will be required prior to Thomas James instructing solicitors in the purchase or the sale of a property.

Energy Performance Certificates - Please note that the graphs below show figures for Flat 5. An Energy Performance Certificate exists for each apartment, please contact the selling agent for details.

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DISCLAIMER

Property reference 28559988. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Thomas James Estates - Clifton. Please contact the selling agent directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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