Lot 50
    Terraced
    16-18 Newstead Grove
    Arboretum, Nottingham, Nottinghamshire, NG1 4GZ
    Sold for £1,100,000
     
    Number 1
    A Fully Let Student Investment Comprising Two Converted Buildings Internally Arranged to Provide 27 Student Letting Rooms Producing £115,700 per annum

    Location

    The property is situated on a residential road in Nottingham close to local shops and amenities. Nottingham University is just 400 yards away. The open spaces of Arboretum Park are within easy reach. Transport links are provided by Nottingham rail stations.

    Exterior
    The properties benefit from a shared garden area.

    The property has not been inspected by Auction House London. All information has been supplied by the vendor.

    Tenure (2nd Column)

    Freehold

    Description (2nd Column)

    The property comprises two converted houses arranged to provide 27 bedroom student accommodation. One of the buildings is arranged over ground and first floors. One building is arranged over ground and two upper floors.

    Note (2nd Column)

    We understand from the vendors that there is potential for future residential development (subject to obtaining all relevant consents).

    Viewing Details

    Open House Viewings:
    Monday 16th October 12:00 – 12:30 to meet outside 16 Newstead
    Wednesday 18th October 12:00 – 12:30
    Friday 20th October 12:00 – 12:30
    Tuesday 24th October 12:00 – 12:30
    Thursday 26th October 12:00 – 12:30

    Bold Black Text

    Current Rent Reserved £115,700 per annum

    Accommodation & Tenancy Schedule

    Property Floor Accommodation Tenancy Details Current Annual Rent
    16 A-D Ground

    First
    Ten Letting Rooms, Two Shared Kitchens, Two Shared Reception Rooms, Two Shared Bathrooms
    Nine Letting Rooms, Two Shared Reception Rooms with Open Plan Kitchens, Two Shared Bathrooms
    Let on Individual AST's at a combined
    rent of £1,545 per week
    £80,340
    18 Ground

    First
    Second
    Four Letting Rooms, Shared Kitchen, Shared Reception Room, Two Separate WC's with wash basins
    Three Letting Rooms, Shared Bathroom
    Further Letting Room
    Let on Individual AST's at a combined
    rent of £680 per week
    £35,360
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    Additional Fees and Disclaimer

    Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

    Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

    Guides are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

    Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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