Flat 87 Cranbrook House, Lower Parliament Street, Nottingham

Description

One bedroom flat in a purpose built block. Located in the Cranbrook House development. In need of some updating, it offers potential for rental income once improved. Vacant. EPC rating - C.

Accommodation

Kitchen/Living Room, Bedroom, Bathroom

Location

Nottingham is a city in central England’s region. Lower Parliament Street can be accessed via Huntington Street. There are a range of local amenities in the city centre including bars, restaurants, cafes and shops. There are also many recreational amenities available including Nottingham Castle, Motorpoint Arena, King Edward Park and National Ice Centre. Transport: Lace Market - Tram.

Tenure / Property Information

Investment Analysis

Recent completed sales in Cranbrook House were £43,000 on 24 June 2025 and £45,000 on 3 December 2025. These support a base GDV of £44,000, with an evidence-supported range of £43,000–£45,000. The £90,000 March 2023 sale is materially higher and is not relied upon because no size, floor or specification details are supplied. The £33,000 guide is below the recent same-development sales, but refurbishment scope and auction-related costs are unknown.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, lease review and confirmation of all auction charges. The price discount to recent Cranbrook House sales is potentially attractive, but the evidence is insufficient to commit to BTL, BRRR or a flip without verified works and rental figures.

Works Required

The property is described as needing some updating. The likely scope cannot be specified beyond general updating because no detailed condition schedule, photographs or cost evidence is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £33,000 guide, the indicative 75% refinance based on the £44,000 base GDV is £33,000. However, refurbishment, buyer or seller charges, VAT and finance costs are unknown, so cash left in and viability cannot be calculated.

Buy-to-Let Analysis

A BTL yield cannot be established. The only rental evidence is an advertised £1,582 pcm for a different, incompletely identified one-bedroom flat, so it is not reliable evidence for this property. Lease terms, service charges and other holding costs are also absent.

Flip Analysis

Recent same-development sales support a base resale value of approximately £44,000. Any flip surplus is unsupported because refurbishment costs, auction fees, VAT and other transaction costs are not supplied.

Investor Risks & Due Diligence

• Refurbishment scope and cost are not evidenced beyond a general need for updating.

• No property-specific achieved or advertised rent is supplied; the available rental listing relates to a different property.

• Lease length, service charge, ground rent and other lease terms are not supplied.

• Buyer fees, VAT, seller charges and other auction costs are unknown.

• The £90,000 2023 same-development sale is materially inconsistent with the more recent £43,000–£45,000 sales, creating valuation uncertainty.

Recommendation

Proceed only subject to inspection, lease review and confirmation of all auction charges. The price discount to recent Cranbrook House sales is potentially attractive, but the evidence is insufficient to commit to BTL, BRRR or a flip without verified works and rental figures.

Strategy Rating

Analysis Confidence

Recent same-development completed sales provide a reasonable GDV indication, but the exact comparable specifications, refurbishment scope, rent, lease details and transaction charges are incomplete.