73 Crusader House, Thurland Street, Nottingham, Nottinghamshire

Description

Leasehold fourth floor flat. Upon instruction of AMG.

Accommodation

One bedroom, reception room open plan to 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 recorded at Crusader House range from £90,000 to £170,000 between November 2023 and March 2025. A £110,000 base GDV is used as an indicative central scenario, but the evidence does not confirm the comparable flat sizes, floors, condition or exact unit identity. The £90,000 and £170,000 figures are used as low and high evidence-supported scenarios, not formal valuation evidence.

Investment Snapshot

Strategy Recommendation

Potential buy-to-let or BRRR subject to confirming the actual achievable rent, service charge, ground rent, lease terms, building condition and legal-pack fees. Do not rely on the headline GDV range for a flip without unit-specific valuation evidence.

Works Required

No specific repair or refurbishment works are evidenced. Allowance is therefore £0 only for calculation purposes, subject to inspection, the legal pack and confirmation of the leasehold building's condition and charges.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide, the indicative total used is £55,800, comprising purchase price and the £1,800 buyer documentation fee, with no supported works allowance. A 75% refinance of the £110,000 base GDV would be £82,500, implying £26,700 cash released before finance costs, taxes and any other completion charges. This is highly dependent on the unverified GDV, valuation, lending terms, service charges and legal-pack findings.

Buy-to-Let Analysis

Using the supplied £300 pcm advertised asking rents as a weak rental proxy gives £3,600 annual rent and a 6.67% gross yield on the £54,000 guide, or 6.45% against the guide plus the £1,800 contract documentation fee. The rental evidence is for NG7 rather than this flat's NG1 location and is asking-rent evidence, so achievable rent, service charge, ground rent and net yield remain unconfirmed.

Flip Analysis

The completed sales evidence supports a broad £90,000–£170,000 Crusader House range, with £110,000 used as the base GDV. At the £54,000 guide plus the known £1,800 documentation fee, the base purchase cost before works, selling costs, tax and finance is £55,800. No supported selling allowance or refurbishment cost is available, so a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• Same-building comparable prices range widely from £90,000 to £170,000 and may relate to different flat sizes, floors, conditions or units.

• Annual service charge, ground rent and review terms are unavailable.

• Potential additional seller fees are not quantified and depend on the Special Conditions of Sale.

• Achievable rent is unconfirmed; the supplied £300 pcm listings are advertised asking rents in NG7, not achieved rents for this property.

• No property-condition evidence or refurbishment cost is available.

• Parking and heating arrangements are unconfirmed.

• Lease information remains subject to review of the legal pack despite the stated 973 years remaining.

Recommendation

Potential buy-to-let or BRRR subject to confirming the actual achievable rent, service charge, ground rent, lease terms, building condition and legal-pack fees. Do not rely on the headline GDV range for a flip without unit-specific valuation evidence.

Strategy Rating

Analysis Confidence

There are multiple same-building completed sales and a long lease, but comparable flat specifications, condition and unit identity are unclear; rent evidence is from a different Nottingham area, and service charges, ground rent, seller fees and property condition are unavailable.