19A Denison Court, Denison Street, Nottingham

Description

Investment opportunity. A vacant four bedroom ground floor apartment close to Nottingham city centre and both Nottingham Universities. Previously rented out as a HMO and generating an impressive yearly rental income in excess of £20k, offering a generous return on investment. The property is on the ground floor and is within a modern gated and secure development. It comprises of a communal entrance shared with 2 additional apartments, entrance hall, open plan 20ft lounge / dining / kitchen, a shower room and 4 bedrooms. Close by are a wide range of local amenities, shops, cafes and restaurants as well as excellent transport links in and out of the city. Please click on the virtual tour to watch our walkthrough video with commentary. Viewings are available (please call our office for more details).

Accommodation

Ground Floor Entrance & hall; Lounge / Kitchen / Dining room 20'6 x 11'5; Shower Room 7'11 x 4'5; Bedroom 1 12'2 x 7'3; Bedroom 2 12'2 x 7'3; Bedroom 3 12'2 x 8'1; Bedroom 4 12'2 x 8'2.

Location

Close to Nottingham city centre and both Nottingham Universities, with local amenities, shops, cafes, restaurants and transport links in and out of the city.

Tenure / Property Information

Investment Analysis

Same-development completed sales range from £180,000 to £216,000 excluding the £54,000 outlier. The two most recent identified sales were £215,000 and £216,000, but comparator bedroom counts, condition and lease terms are not supplied. A provisional base GDV of £215,000 is therefore used, with £180,000 low and £216,000 high scenarios. This is an estimate, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Investigate as a potential HMO/BTL or BRRR purchase only after reviewing the legal pack, lease, HMO permissions, service charges, ground rent and viewing the property. Do not rely on the historic £20,000-plus income without current rental and compliance verification; set a bid limit only after costing all works and fees.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection-led works only after viewing, together with verification of HMO suitability, lease restrictions, service charge and ground rent obligations. No works allowance is included because the evidence does not support one.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the provisional £215,000 base GDV, 75% refinance is £161,250. The strategy may offer substantial gross value headroom against the guide, but cash left in cannot be calculated because refurbishment, leasehold costs, finance costs and other acquisition costs are not evidenced. Refinanceability also depends on valuation, lease terms, property condition and acceptable use as an HMO.

Buy-to-Let Analysis

The property is vacant and was previously rented as an HMO, with the description stating historic annual income in excess of £20,000. However, no current passing rent, asking-rent evidence, HMO licence information or operating costs are supplied, so a current rent and gross yield cannot be established. The minimum buyer premium at the £79,500 guide is £6,000 including VAT, before any further legal or special-condition costs.

Flip Analysis

The provisional base GDV is materially above the £79,500 guide, but a reliable flip surplus cannot be calculated. Refurbishment costs, selling costs, finance costs, legal costs and any leasehold or auction charges beyond the stated buyer premium are not supplied. Comparator specifications and condition are also unknown.

Investor Risks & Due Diligence

• The apartment is vacant, so the historic rental income is not a current passing rent.

• No sufficiently specific external rental comparables or auctioneer rent estimate are supplied.

• Comparator bedroom counts, condition and lease terms are not supplied, limiting GDV confidence.

• Ground rent and service charge review periods remain subject to the legal pack.

• HMO licensing, planning and lease permissions are not evidenced.

• Buyer premium is 4.8% subject to a £6,000 minimum, with additional special-condition fees possible.

• Refurbishment and finance costs cannot be quantified from the evidence provided.

Recommendation

Investigate as a potential HMO/BTL or BRRR purchase only after reviewing the legal pack, lease, HMO permissions, service charges, ground rent and viewing the property. Do not rely on the historic £20,000-plus income without current rental and compliance verification; set a bid limit only after costing all works and fees.

Strategy Rating

Analysis Confidence

There are several same-development completed sales and a stated historic rental figure, but comparator specifications, current rent, condition, lease costs, HMO compliance and full auction costs are incomplete.