An opportunity has arisen to purchase this freehold building in Radford that is currently arranged as 5 self-contained flats. The ground floor flat has its own entrance on Alfreton Road, with the remaining flats having a communal entrance on Thoroton Street. In total, there are three x 2 bedroom flats and two x 1 bedroom flats, situated over three floors. The building is double glazed and each flat is individually heated. All flats are currently rented on Assured Shorthold Tenancies and are returning an annual rent of £43,320 and offering a gross yield of around 8%. Being a short distance down Alfreton Road from Canning Circus, the building is well located for tenants working in the city centre and has very good access both in and out of Nottingham.
FLAT 1
This is a ground floor flat with a private entrance from Alfreton Road. A large open plan living room has a fitted kitchen area and this leads through to two double bedrooms and a bathroom. The lounge is 4.3m (max) x 5.14m - The Kitchen area is 4.0m x 2.15m - Bedroom 1 is 3.37m (max) x 4.21m - Bedroom 2 is 3.17m x 2.97m
FLAT 2
One of the larger flats in the building this has split level accommodation on the first and second floors. The first floor has the majority of accommodation which includes a Lounge measuring 3.57m (max) x 5.17m, a Kitchen 3.91m x 3.08m (max), a Bedroom 2.08m x 3.08m (max) and an "L" shaped Bathroom. On the upper floor is a really large Bedroom which measures 6.83m x 3.09m.
FLAT 3
This is a good sized two bedroom flat with a large open plan Lounge and Kitchen at the front, a double bedroom and a large single bedroom and a Bathroom. The measurements for the Lounge/Kitchen are 4.60m (max) x 5.02m (max). Bedroom 1 is 3.48m x 2.93m and Bedroom 2 is 3.26m x 2.29m. The flat has a small bathroom with a bath, WC and basin.
FLAT 4
Flat 4 is at the back of the building on the first floor and is a one bedroom flat with the following accommodation. Open Plan Living Room and Kitchen 4.23m x 3.59m overall measurements, Bedroom 2.88m x 3.64m and Bathroom 1.69m x 1.71m
FLAT 5
Situated at the rear of the building on the second floor, the flat has a regular shaped open plan living room and kitchen that measures 4.56m x 4.67m. It has a double bedroom 2.85m x 3.67m and a bathroom 1.65m x 3.13m
Council Tax Band
All five flats have a Council Tax Band A
Local Authority: Nottingham City Council
For details of current Council Tax charges, visit www.nottinghamcity.gov.uk
Individual EPC Ratings
Flat 1 Current C 70 - Potential C 79
Flat 2 Current D 63 - Potential C 71
Flat 3 Current C 76 - Potential B 81
Flat 4 Current D 67 - Potential C 72
Flat 5 Current C 71 - Potential C 76
Current rents
Flat 1 - Application at £775 pcm
Flat 2 - £750 pcm
Flat 3 - £775 pcm
Flat 4 - £600 pcm
Flat 5 - Advertised at £725