Flat 503 Maid Marian House, Nottingham, Nottinghamshire, NG1 6BH

Description

A fantastic opportunity to acquire a tenanted studio apartment within the well-located Maid Marian House, in the heart of Nottingham city centre. The property comprises a self-contained studio layout, including a sleeping/living area, compact kitchenette, and separate shower room. The building benefits from a range of on-site amenities, including communal lounge/study areas and a gym, making it particularly attractive to tenants. The flat is currently tenanted and producing £7,272.00 per annum, offering an immediate income stream for investors. Please note: the property is being sold with tenant in situ and no viewings are available. The photos were taken prior to the current let. Ideally situated for access to Nottingham’s universities, shops, restaurants, and transport links, this property represents a strong buy-to-let investment opportunity with high rental demand in the area. Key Features: City centre location Tenanted investment – £7,272.00 PA income Studio apartment On-site facilities including gym and communal areas Leasehold EPC Rating C No viewings available

Accommodation

A full room schedule was not reliably extracted from the supplied scrape. Confirm accommodation and floor areas from the auctioneer particulars and inspection.

Location

Located in Nottingham, Nottinghamshire. Investor due diligence should test local transport, employment, amenities and tenant demand at the exact micro-location. Cross-check the postcode and legal title before bidding.

Investment Analysis

The figures below separate auctioneer/source facts from HB indicative estimates. HB figures are screening assumptions only and are not a RICS valuation, contractor quotation or lending decision.

Investment Snapshot

Strategy Recommendation

The initial strategy should be tested against condition, legal structure, works, rental evidence and comparable values before setting a maximum bid. The screening case depends on achieving a sufficient margin or sustainable income after all acquisition and holding costs.

Works Required

• Review complete building/property condition

• Electrical and heating inspection

• Allow for decoration and repairs where required

Rental & Market Context

HB screening rent is approximately £250–£300 pcm (£3,000–£3,600 pa). Replace this with current local letting evidence. The source also indicates published income of about £7,272 pa, which should be verified against tenancy documents.

Sold within approximately 5 miles

Reliable sold-property comparables were not collected from the supplied scrape. Check recent Land Registry evidence and closely comparable sold listings within approximately five miles, prioritising the same property type, size, tenure and condition.

Potential BRRR Position

Illustrative 75% refinance on the HB indicative value range is about £30,750–£36,000 against purchase + works of approximately £43,000–£50,000. Actual refinance depends on valuation, works, finance costs, rental stress testing and lender criteria.

Flip Analysis

The initial gross value spread is approximately £-9,000–£5,000 before acquisition/disposal costs. This is not profit and excludes SDLT, auction/admin fees, legal costs, finance, holding costs, insurance, utilities, professional fees, selling fees, contingency and tax.

Investor Risks & Due Diligence

• Review legal pack, title and special conditions

• Confirm auction fees and completion period

• Obtain survey and works quotations

• Verify finance before bidding

• Check rental and sold comparable evidence

• Verify tenancy agreement, deposits, rent schedule and compliance

Recommendation

Initial recommendation: Buy-to-Let / Income Investment. Proceed only if the legal pack, condition, costs and local evidence support the required margin/yield. Treat the guide as a starting point rather than a valuation and set a disciplined maximum bid after due diligence.

Strategy Rating

• Buy-to-Let: ★★★★☆

• BRRR: ★★★☆☆

• Flip: ★★★☆☆