Apartment 718, The Litmus Building, 195 Huntingdon Street, Nottingham, Nottinghamshire, NG1 3NY

Description

A one bedroom seventh floor apartment in Nottingham city centre, close to bars, restaurants and retail shops. Nottingham train station is located close by with regular services to London St Pancras. The Litmus Building occupiers have the benefit and use of the communal gym and swimming pool, as well as a 24hr concierge service. Offered for sale with vacant possession.

Accommodation

Seventh Floor: open plan kitchen/living/dining, bedroom, shower room and balcony.

Location

Nottingham city centre, close to bars, restaurants, retail shops and Nottingham train station.

Tenure / Property Information

Investment Analysis

The five same-building completed sales range from £110,000 to £165,000 between September 2018 and March 2021. The evidence supports a broad £110,000–£165,000 value range, with £150,500 used as the base GDV, equal to the median supplied sale. These are historic comparables and do not establish a formal current valuation; the specific comparable apartment attributes are not provided.

Investment Snapshot

Strategy Recommendation

Investigate as a potential buy-to-let or BRRR purchase only if the legal pack confirms acceptable service charge, ground rent, lease terms and any seller fees. Do not rely on the apparent discount to historic comparables without inspection and current lender valuation.

Works Required

No refurbishment works are described in the supplied evidence. A provisional £0 works allowance is therefore used for calculation only, subject to inspection and legal-pack review; this is not confirmation that no works are required.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £40,000 guide, including the known £1,800 documentation fee and no provisional works allowance, the base cost is £41,800. A 75% refinance against the £150,500 base GDV indicates £112,875, producing an indicative £71,075 surplus over these costs before finance, tax, valuation, lender costs and other completion charges. Actual refinance depends on valuation, lender criteria, lease costs and the legal pack.

Buy-to-Let Analysis

The auctioneer estimates rent at £950–£1,000 pcm, equivalent to £11,400–£12,000 annually. Using the midpoint rent, gross yield is approximately 29.25% on the £40,000 guide and 27.99% on the £41,800 purchase-plus-known-cost figure. Net yield cannot be established because service charge, ground rent, management, maintenance, insurance, voids and any seller charges are unknown. The rent is an estimate, not passing rent.

Flip Analysis

The base GDV is £150,500 against a £41,800 base cost including the known documentation fee. This indicates substantial gross headroom before selling costs, finance, tax and any unidentified works. A reliable flip surplus is not calculated because no selling-cost allowance or current formal valuation is supplied, and the comparable sales are historic.

Investor Risks & Due Diligence

• Historic comparable sales may not reflect current market value.

• Service charge, ground rent and review provisions are unconfirmed.

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

• The auctioneer rent figure is an estimate rather than achieved or passing rent.

• Apartment condition and any required works are not evidenced.

• Leasehold, lender and refinance acceptability require legal-pack and lender confirmation.

• Parking and heating details are unconfirmed.

Recommendation

Investigate as a potential buy-to-let or BRRR purchase only if the legal pack confirms acceptable service charge, ground rent, lease terms and any seller fees. Do not rely on the apparent discount to historic comparables without inspection and current lender valuation.

Strategy Rating

Analysis Confidence

There are five same-building completed sales and an auctioneer rent estimate, but the sales are historic, the specific unit characteristics are not supplied, and service charge, ground rent, seller fees, condition and current valuation remain unconfirmed.