Apartment 38 Park West, Nottingham, Nottinghamshire, NG7 1LU

Description

We are pleased to present this high quality one bedroom first floor apartment, overlooking the interior courtyard of this modern complex and within a 5 minute walk of the City Centre. The apartment comprises of a Living area/Kitchen with balcony, whilst off the hallway there is a large double bedroom with fitted wardrobes and a bathroom with a shower over the bath.

Accommodation

Living area/Kitchen with balcony; large double bedroom with fitted wardrobes; bathroom with a shower over the bath.

Location

Situated in Canning Circus, a short walk to shops, bars, restaurants and other amenities. It is also a short walk from the Nottingham Trent University campus. Great transport links are nearby via bus, tram and train.

Tenure / Property Information

Investment Analysis

Five completed sales at the same Park West development range from £82,500 to £120,000, with a median of £95,000. The comparables are not identified by bedroom count or exact apartment, so the evidence supports only an indicative range rather than a formal valuation. The guide price is materially below the base comparable indication, although auction fees and any special-condition costs remain uncertain.

Investment Snapshot

Strategy Recommendation

Proceed only subject to confirming the lease term, service charge, ground rent, title and all special-condition costs. The evidence supports investigating a value-led resale or refinance strategy; BTL should not be underwritten until rent is evidenced.

Works Required

No refurbishment works are indicated in the supplied description. The apartment is described as high quality and has an EPC rating of B. Allowance is therefore £0 for supported works only; inspection and any leasehold compliance matters require confirmation.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £46,000 guide, the known £3,600 admin charge and no supported works allowance, base project cost is £49,600. A 75% refinance of the £95,000 base GDV would be £71,250, indicating £21,650 of potential cash release before finance costs, taxes, valuation, refinance fees and any additional auction costs. This is dependent on lender valuation, mortgageability and lease terms.

Buy-to-Let Analysis

BTL yield cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The low guide price may provide a substantial gross-value margin, but lease term, service charge, ground rent, occupancy and letting demand are unverified.

Flip Analysis

The base comparable indication is £95,000 against known acquisition and admin costs of £49,600, producing £45,400 before selling costs, finance, tax and any undisclosed special-condition fees. A formal flip surplus is not stated because no supported selling allowance is available. Comparable variation and lack of exact unit details reduce certainty.

Investor Risks & Due Diligence

• Lease term, service charge and ground rent are not supplied.

• No sufficiently specific rental evidence is available, so rental yield cannot be calculated.

• Additional buyer premiums, search fees, legal fees, transfer fees or seller-cost reimbursements may apply.

• Same-development comparable prices range widely from £82,500 to £120,000.

• Exact apartment comparability, condition and mortgageability are not confirmed.

Recommendation

Proceed only subject to confirming the lease term, service charge, ground rent, title and all special-condition costs. The evidence supports investigating a value-led resale or refinance strategy; BTL should not be underwritten until rent is evidenced.

Strategy Rating

Analysis Confidence

There are five recent completed sales at the same development and a clear purchase guide, but the comparables are not unit-specific, rental evidence is absent, and leasehold and auction-cost information is incomplete.