Apartment 518 The Litmus Building, Nottingham, Nottinghamshire, NG1 3NX

Description

Smart, nicely furnished apartment in the Litmus building, situated in the heart of the city. The property is described as suitable for students due to its proximity to Nottingham Trent University. The building has key-fob security and a reception team on site through the week. The complex includes a gymnasium and swimming pool.

Accommodation

Large kitchen/living area with a small balcony; one bedroom with a built-in wardrobe.

Location

Situated in the heart of Nottingham, a short walk from shops, bars, restaurants and other amenities. Nottingham Trent University campus, bus, tram and train links are nearby. The Motorpoint area, City Ground, Meadow Lane and Trent Bridge are also local.

Tenure / Property Information

Investment Analysis

Same-building HM Land Registry sales range from £97,000 to £173,375, with the latest supplied sale at £173,375 on 27 June 2025. Flat size, floor, condition, lease terms and service charges are not supplied, so £137,500 is used as a cautious base scenario rather than a formal valuation. The £54,000 guide is substantially below the supplied sales evidence, but the reason for the discount cannot be established without the legal pack and lease information.

Investment Snapshot

Strategy Recommendation

Do not bid solely on the headline discount. Obtain and review the legal pack, lease length, service charge, ground rent, arrears and any building or cladding liabilities, and verify achievable rent. Subject to satisfactory checks, the strongest apparent case is value-led purchase with refinance potential rather than relying on the weakly evidenced rental figure.

Works Required

No specific defects or refurbishment requirements are described. Allow for inspection, cleaning, furnishing checks and any minor remedial work only if confirmed, but no numeric works allowance is supported by the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide plus the known admin charge, the indicative base cost is £57,600 before any unknown legal, search, transfer, service-charge or refurbishment costs. A 75% refinance against the £137,500 base GDV would be £103,125, implying £45,525 more than the stated base cost before finance, tax and transaction costs. This is only a paper calculation: lease terms, lender valuation, service charges and borrowing criteria are unknown.

Buy-to-Let Analysis

Using the sole supplied advertised asking rent of £300 pcm gives annual gross rent of £3,600. This equates to 6.67% on the £54,000 guide and 6.25% including the known £3,600 admin charge, before service charge, ground rent, management, maintenance, voids and finance. The rental evidence is for Radford Boulevard NG7 rather than this building, so achievable rent cannot be reliably established.

Flip Analysis

The supplied same-building sales support a broad £97,000–£173,375 value range, with £137,500 used as base GDV. Against the guide and known £3,600 admin charge, the apparent margin is substantial, but no selling costs, finance costs, taxes, legal-pack liabilities or refurbishment allowance are available. A dependable flip surplus therefore cannot be calculated.

Investor Risks & Due Diligence

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

• Additional auction costs may apply beyond the known £3,600 admin charge.

• The only rental evidence is an advertised asking rent from a different Nottingham postcode and may not reflect achievable rent in this building.

• The comparable sales vary materially in price and no matching flat size, floor or specification is provided.

• No formal refurbishment, selling-cost or finance-cost allowances are supported.

• The building's management, gym and swimming-pool costs or liabilities are unknown.

Recommendation

Do not bid solely on the headline discount. Obtain and review the legal pack, lease length, service charge, ground rent, arrears and any building or cladding liabilities, and verify achievable rent. Subject to satisfactory checks, the strongest apparent case is value-led purchase with refinance potential rather than relying on the weakly evidenced rental figure.

Strategy Rating

Analysis Confidence

There are several same-building completed sales and a guide price, but the subject's lease, service charges, exact specification, condition, legal liabilities and directly comparable rent are missing.