33 Gedling Grove, Nottingham, Nottinghamshire, NG7 4DU

Description

Internally arranged to provide two self-contained flats. Flat A is subject to (sold off on) a long lease. Flat B is vacant and provides a reception room, kitchen, three bedrooms (one with en-suite shower room/WC), bathroom and WC. GIA approximately 112.5 sq m (1,211 sq ft). Well located for the amenities of Nottingham City Centre. Vacant possession. By order of Nottingham City Homes.

Accommodation

Two self-contained flats. Flat B provides a reception room, kitchen, three bedrooms (one with en-suite shower room/WC), bathroom and WC.

Location

The property is situated on the north west side of Gedling Grove, close to its junction with Arthur Street. The A610 and A60 are easily accessible and afford access to the M1 Motorway to the west. Various rail operators run services from Nottingham station, approximately 2 miles to the south east. Local shops, amenities and facilities are available within Nottingham City Centre, approximately 0.7 miles to the south east. Nottingham Arboretum is a short walk to the east.

Tenure / Property Information

Investment Analysis

No guide price, sold comparables, rental evidence or formal valuation is supplied. The property is a leasehold semi-detached building arranged as two self-contained flats, with Flat A sold off on a long lease and Flat B described as vacant. A market value, GDV and bid limit cannot be supported from the evidence provided.

Strategy Recommendation

Do not bid on the current evidence. Obtain the legal pack, inspect the property, confirm exactly what is included alongside Flat A's long lease, and establish supported values, rents and costs before considering a strategy.

Works Required

No specific defects or required works are evidenced. Before bidding, inspect the vacant accommodation and verify the condition, services, fire safety, layout, utilities and legal arrangements for the two self-contained flats.

Rental & Market Context

Potential BRRR Position

BRRR analysis cannot be quantified without a purchase price, refurbishment allowance, supported GDV, rent and finance-related costs. The 999-year lease from 31 March 2020 at peppercorn ground rent is stated, but the effect of Flat A being sold off on a long lease requires legal review.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence, auctioneer rent estimate, purchase price or cost information is supplied. Flat A is sold off on a long lease, so the ownership and income position should be confirmed from the legal pack.

Flip Analysis

A flip surplus cannot be calculated because there is no guide price, market evidence, condition assessment, refurbishment budget or supported selling-cost allowance. The two-flat arrangement and Flat A long lease require title, planning and resaleability checks.

Investor Risks & Due Diligence

• Flat A is stated to have been sold off on a long lease; the retained ownership, rights, obligations and income position must be confirmed.

• The property is arranged as two self-contained flats, but no planning, licensing, building-regulation or fire-safety evidence is supplied.

• The condition of the vacant accommodation and the cost of any works are unknown.

• No guide price, buyer premium, administration charge or other quantified acquisition costs are supplied.

• No sufficiently specific rental evidence or auctioneer rent estimate is supplied.

• EPC, council tax, parking and heating information are not provided.

Recommendation

Do not bid on the current evidence. Obtain the legal pack, inspect the property, confirm exactly what is included alongside Flat A's long lease, and establish supported values, rents and costs before considering a strategy.

Strategy Rating

Analysis Confidence

The description provides layout, tenure, lease term, vacancy and location context, but omits price, comparables, rent, condition, EPC, council tax, parking, heating and fee information.