116 Victoria Road, Netherfield, Nottingham NG4 2HQ

Description

Available is this freehold former retail unit, requiring a complete programme of refurbishment. The property comprises a single-storey brick-built building directly fronting Victoria Road, with access from the pavement through the main entrance door and a front elevation window. Internally, it provides an open-plan commercial space previously used for retail purposes and requiring complete refurbishment and modernisation throughout. It may be suitable for alternative uses or redevelopment, subject to planning permission, building regulations approval and other required consents.

Accommodation

Retail Unit: 10'7" x 10'9" approx (3.23 x 3.29 approx)

Location

Situated on Victoria Road in Netherfield, an established residential and commercial area to the east of Nottingham. The property is conveniently positioned for local shops, amenities and services in Netherfield and neighbouring Carlton, with transport connections to Nottingham city centre and surrounding areas including Colwick, Gedling and Burton Joyce.

Tenure / Property Information

Investment Analysis

The property is a vacant freehold former retail unit of approximately 10.6 sq m, requiring complete refurbishment. The supplied sold comparables are residential terraced properties on Victoria Road and are not sufficiently comparable to establish a commercial value or residential GDV. Alternative use or redevelopment is only potential and requires planning, building regulations and other consents. No supported GDV, rent or refurbishment-cost estimate can therefore be established.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence unless undertaking specialist commercial, planning and refurbishment due diligence. Treat any alternative-use or redevelopment value as unproven and obtain a survey, planning advice, cost plan and review of the Special Conditions before bidding.

Works Required

Complete refurbishment and modernisation of the existing open-plan commercial space, with the precise scope to be confirmed by survey. Any alternative use or redevelopment would require planning permission, building regulations approval and other relevant consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not presently supportable because there is no evidence-based GDV, residential use approval, rent, refurbishment budget or refinance value. The £12,000 guide would attract the stated £6,000 minimum buyer premium, making the minimum guide-plus-premium acquisition outlay £18,000 before refurbishment and other costs, but the overall project cost cannot be calculated.

Buy-to-Let Analysis

BTL analysis cannot be established. No sufficiently specific rental evidence or auctioneer rent estimate is supplied, and the current property is a former retail unit rather than an established residential dwelling. Residential conversion, if considered, would require consents and cannot be assumed.

Flip Analysis

A flip appraisal cannot be established. The supplied residential sold comparables do not evidence the value of this small commercial unit, while any residential or alternative-use conversion depends on planning and other consents. Refurbishment costs and a supported resale GDV are unavailable.

Investor Risks & Due Diligence

• Complete refurbishment is required, but no works budget or detailed condition survey is supplied.

• The supplied sold comparables are residential terraced properties and may not evidence this commercial unit's value.

• Alternative use or redevelopment is subject to planning permission, building regulations and other consents.

• No sufficiently specific rental evidence or passing rent is supplied.

• No outside space is included.

• The buyer premium is 4.8% including VAT subject to a £6,000 minimum, and additional Special Conditions fees may apply.

Recommendation

Do not bid on current evidence unless undertaking specialist commercial, planning and refurbishment due diligence. Treat any alternative-use or redevelopment value as unproven and obtain a survey, planning advice, cost plan and review of the Special Conditions before bidding.

Strategy Rating

Analysis Confidence

The property description and guide price are supplied, but there is no commercial valuation evidence, specific rental evidence, refurbishment budget, EPC, services information, planning position or supported alternative-use GDV.