122 Main Street Calverton, Nottingham, Nottinghamshire, NG14 6FB

Description

This stunning property, redeveloped by the current owners from its former standing as a farm house is available at our auction. Set in quiet the village of Calverton, positioned about 20 minutes from Nottingham city centre, it offers a unique living space. The property begins with a useful utility room and ground floor w/c. It then opens to an attractive farmhouse style kitchen, a cosy living area with feature log-burning stove, and a second, smaller reception room that is also sometimes used as a ground floor bedroom with it containing an en suite shower room. The stairs lead upstairs from the kitchen area. On the first floor the cottage boasts 3 further bedrooms and a traditional style bathroom with roll top bath. The master bedroom also has a WC for convenience. There is also a separate dwelling in the form of an adjoining annexe. It has a separate entrance door and has a kitchen/living space on the ground floor. The first floor is made up of a bedroom and en suite bathroom. This is currently let at £200.00 per week, generating over £10,000 per year in income. Secure double gates to the front of the plot open into a low-maintenance courtyard style garden and viewing is highly recommended to appreciate this unique and versatile property on offer. Freehold EPC Rating - D

Accommodation

Land/plot lot; conventional residential accommodation is not applicable. Confirm site area, boundaries, access and services from the title plan and legal pack.

Location

Located in Nottingham, Nottinghamshire. Investor due diligence should test local transport, employment, amenities and tenant demand at the exact micro-location. Cross-check the postcode and legal title before bidding.

Investment Analysis

The figures below separate auctioneer/source facts from HB indicative estimates. HB figures are screening assumptions only and are not a RICS valuation, contractor quotation or lending decision.

Investment Snapshot

Strategy Recommendation

The initial strategy should be tested against condition, legal structure, works, rental evidence and comparable values before setting a maximum bid. Development feasibility, access, services and planning are the core value drivers for this lot.

Works Required

• Boundary/title-plan verification

• Access and services investigation

• Planning review / pre-application advice

• Site clearance and ground-condition checks

• Detailed development cost plan

Rental & Market Context

A conventional residential rental estimate is not applicable to this land/development lot. Income should be assessed only where an existing use or credible consented scheme supports it.

Sold within approximately 5 miles

Reliable sold-property comparables were not collected from the supplied scrape. Check recent Land Registry evidence and closely comparable sold listings within approximately five miles, prioritising the same property type, size, tenure and condition.

Potential BRRR Position

Not applicable at this stage. Any refinance case depends on the eventual use, completed value and lender criteria.

Flip Analysis

The initial gross value spread is approximately £60,000–£225,000 before acquisition/disposal costs. This is not profit and excludes SDLT, auction/admin fees, legal costs, finance, holding costs, insurance, utilities, professional fees, selling fees, contingency and tax.

Investor Risks & Due Diligence

• Review legal pack, title and special conditions

• Confirm auction fees and completion period

• Obtain survey and works quotations

• Verify finance before bidding

• Check rental and sold comparable evidence

• Verify tenancy agreement, deposits, rent schedule and compliance

• Confirm planning, access, services, boundaries and ground conditions

Recommendation

Initial recommendation: Development / Land. Proceed only if the legal pack, condition, costs and local evidence support the required margin/yield. Treat the guide as a starting point rather than a valuation and set a disciplined maximum bid after due diligence.

Strategy Rating

• Development: ★★★★★

• Flip: ★★★★☆

• Buy-to-Let: ★★☆☆☆