Flat 6, 11 Alexandra Street, Carrington, Nottingham, NG5 1RP

Description

A two bedroom first floor flat. The property forms part of a purpose built block. Presented in clean decorative order. Vacant.

Accommodation

First Floor - Open Plan Reception Room/Kitchen, Two Bedrooms, En suite WC, Shower Room/WC.

Location

Located on Alexandra Street, between Hucknall Road and Sherwood Rise. Shopping amenities are available nearby in the centre of Nottingham. Recreational amenities of Hunger Hill Gardens and Forest Recreation Ground. Transport Beaconsfield Street - Tram. Nottingham - CrossCountry / E M R / Northern.

Tenure / Property Information

Investment Analysis

The most recent supplied comparable in Katherine House, Alexandra Street, sold for £73,500 on 14 March 2025. Older sales in the same stated building range from £100,500 to £125,000, but they are materially older and may relate to different units, conditions or circumstances. The £73,500 sale is the most relevant evidence-supported benchmark, but a precise valuation range cannot be established.

Investment Snapshot

Strategy Recommendation

Treat as a cautious value-led purchase only if legal, leasehold and fee information supports the guide price. Do not rely on BTL or BRRRR until rent, service charges, lease details and total acquisition costs are confirmed.

Works Required

The flat is described as being in clean decorative order. No specific works or defects are evidenced, so no refurbishment allowance has been included. The EPC is rated E and any improvement requirements should be checked in the legal and property information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £73,500 latest comparable as a provisional GDV and the £60,000 guide as the purchase figure, 75% refinancing would be approximately £55,125. On the limited assumptions used, indicative cash left in is £4,875 before finance, tax, buyer fees, legal costs and any works. The result is highly sensitive to the unconfirmed valuation and costs.

Buy-to-Let Analysis

BTL cannot be properly assessed because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The apparent purchase discount to the £73,500 comparable is not enough to establish an acceptable yield, particularly as buyer fees, VAT and possible seller charges are unquantified.

Flip Analysis

A provisional £13,500 gross difference exists between the £73,500 comparable benchmark and the £60,000 guide, before buyer fees, VAT, seller charges, finance, legal costs, selling costs and any works. A net flip surplus cannot be calculated because no supported selling allowance or complete cost schedule is supplied.

Investor Risks & Due Diligence

• The most relevant £73,500 sale may relate to a different flat and condition.

• No rental evidence or passing rent is supplied, so BTL yield cannot be established.

• Buyer premium, VAT exposure and possible seller charges are unquantified.

• The lease is stated as 125 years from 1 January 2015; remaining term and full lease provisions should be verified.

• The property is leasehold and service charge, ground rent and reserve-fund obligations are not supplied.

• EPC rating E may require investigation of potential improvement obligations or costs.

Recommendation

Treat as a cautious value-led purchase only if legal, leasehold and fee information supports the guide price. Do not rely on BTL or BRRRR until rent, service charges, lease details and total acquisition costs are confirmed.

Strategy Rating

Analysis Confidence

There is one recent same-building sale, but no unit-specific identification, floor area, rental evidence, service-charge information, buyer fee, seller charges or complete condition assessment.