Apartment 219, Parkgate, Upper College Street, NOTTINGHAM, Nottinghamshire

Description

Leasehold fourth floor flat. The property comprises a principal bedroom with en-suite, one further bedroom, reception room open plan to kitchen, bathroom/wc and a balcony.

Accommodation

Principle bedroom with en-suite, one further bedroom, reception room open plan to kitchen, bathroom/wc. Outside: Balcony

Location

The property is located on Upper College Street. A comprehensive range of shops, bars and restaurants are available locally within Nottingham City Centre. Public transport links can be found at Nottingham Train Station lying to the south east along with a network of local bus and tram services serving the surrounding areas. The property is served by road links including the A610 located to the north and the A60 lying to the east. Recreational pursuits are available locally.

Tenure / Property Information

Investment Analysis

Five completed sales at the same Parkgate address range from £160,000 to £252,500. The median is £185,000, used as the base GDV because no unit-specific sizes, floors, condition or bedroom details are supplied. The range is unusually wide, so the valuation remains indicative only. The £110,000 guide is materially below the supplied completed-sale evidence, but service charge, ground rent, parking and legal terms remain unconfirmed.

Investment Snapshot

Strategy Recommendation

Potentially attractive discount-to-comparables purchase, but proceed only after confirming the legal pack, service charge, ground rent, parking, condition, seller fees and achievable rent. Do not bid on a BTL or refurbishment assumption that is not evidenced.

Works Required

No specific defects or refurbishment requirements are identified in the supplied evidence. Budgeting for works is therefore unsupported. Confirm condition, common-part obligations and any required leasehold works before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £110,000 guide, adding the known £1,800 documentation fee gives a stated base cost of £111,800 before any works, seller fees, finance, tax, service charge or ground rent. At the £185,000 base GDV, 75% refinance is £138,750, indicating £26,950 of theoretical capital release before finance and transaction costs. This is not a confirmed refinance outcome and depends on valuation, lending criteria and leasehold costs.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Service charge and ground rent are also unknown and could materially affect net returns. Obtain an achievable rent assessment and full leasehold cost schedule before relying on rental income.

Flip Analysis

The base GDV of £185,000 is supported by same-address completed sales, but the comparables range from £160,000 to £252,500 and lack unit-specific detail. A simple base comparison against the £111,800 guide-plus-known-fee figure indicates £73,200 before selling costs, finance, tax and any works. A formal flip surplus cannot be calculated because no supported selling allowance or refurbishment budget is available.

Investor Risks & Due Diligence

• Wide variation in same-address completed-sale prices creates valuation uncertainty.

• Annual service charge and ground rent are unconfirmed.

• Additional seller fees may be payable under the Special Conditions of Sale.

• No sufficiently specific rental evidence is available, preventing reliable yield analysis.

• Condition, heating and parking details are unconfirmed.

• Refinance proceeds depend on lender valuation and lending criteria and are not guaranteed.

Recommendation

Potentially attractive discount-to-comparables purchase, but proceed only after confirming the legal pack, service charge, ground rent, parking, condition, seller fees and achievable rent. Do not bid on a BTL or refurbishment assumption that is not evidenced.

Strategy Rating

Analysis Confidence

Same-address completed sales provide useful market evidence, but unit-specific comparable details, rent, service charge, ground rent, condition, parking, seller fees and lease terms are incomplete.