72 Crusader House, Thurland Street, Nottingham, Nottinghamshire, NG1 3BT

Description

Leasehold fourth floor flat. One bedroom, reception room, kitchen, bathroom/wc. Allocated parking space.

Accommodation

One bedroom, reception room, kitchen, bathroom/wc

Location

The property is located on Thurland Street. Shopping amenities can be found locally within Nottingham City Centre. Public transport links are available at Nottingham Train Station to the south and Lace Market Tram Stop to the south east, along with a network of local bus services serving the surrounding areas. The property is served by road links including the A60 to the north and A6008 to the west. Recreational pursuits can be found at Victoria Park to the north east.

Tenure / Property Information

Investment Analysis

Five completed sales in Crusader House range from £90,000 to £170,000, with a median of £110,000. The comparables are same-building flats but bedroom count, size, condition and parking details are not supplied, so £110,000 is an indicative base GDV rather than a formal valuation. A broad evidence-supported scenario range is £90,000–£170,000.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack review, confirmation of service charge and ground rent, inspection, and independent rental evidence. The guide appears below the same-building completed-sale range, but the comparables are not sufficiently detailed to support an unconditional investment bid.

Works Required

No physical defects or refurbishment requirements are evidenced. Allow for inspection and verification of the flat, allocated parking space and lease documents, including service charge and ground rent liabilities. No refurbishment allowance is included in the calculations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £60,000 guide, the known base cost is £61,800 including the £1,800 buyer documentation fee, with no refurbishment allowance included. On the indicative £110,000 base GDV, 75% refinance is £82,500, implying £20,700 of capital potentially left in before finance, tax and other costs. This is highly dependent on valuation, lending criteria and unknown lease costs.

Buy-to-Let Analysis

BTL appraisal cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The long lease and city-centre location may be relevant, but service charge, ground rent and any letting restrictions remain unknown.

Flip Analysis

Using the indicative £110,000 base GDV and £61,800 known base cost gives £48,200 before selling costs, finance, tax and any works. A formal flip surplus cannot be stated because no selling-cost allowance or refurbishment cost is supported.

Investor Risks & Due Diligence

• Annual service charge and ground rent are unknown.

• Lease information is awaited and must be checked in the legal pack.

• Additional seller fees may be payable on completion.

• Comparable sales do not specify bedroom count, floor area, condition or parking provision.

• No sufficiently specific rental evidence is available, so yield and rental coverage cannot be established.

• No condition evidence supports a refurbishment budget.

Recommendation

Proceed only subject to legal-pack review, confirmation of service charge and ground rent, inspection, and independent rental evidence. The guide appears below the same-building completed-sale range, but the comparables are not sufficiently detailed to support an unconditional investment bid.

Strategy Rating

Analysis Confidence

Same-building completed sales support an indicative GDV range, but the comparable specifications, rental evidence, lease charges, condition and potential seller fees are incomplete.