Henderson House, 21a, Chapel Street, NOTTINGHAM, Nottinghamshire, NG17 8JY

Description

Mixed residential and commercial property with car parking Planning for conversion to three apartments on ground floor First floor majority let at £22,500 PA with scope to increase revenue. Description A former methodist chapel dated 1834, cleverly converted into a mixed-use property in a residential location with nearby bus routes, schooling, amenities and railway station. The ground floor was utilised as a snooker hall with ancillary rooms and has planning permission to convert into three self-contained onebedroom apartments (REF: Ashfield District Council V/2024/0308). Residential accommodation on the first floor includes a self-contained one-bedroom apartment with reception room, kitchen, and bathroom/w.c. and four letting rooms with a shared kitchen, shower room, and washer room. Presently, the apartment and three of four rooms are let out, producing £22,500 with scope to increase to £27,300, excluding the snooker room and conversion. Outside is a patio area to the front and carpa

Location

Property located at Henderson House, 21a, Chapel Street, NOTTINGHAM, Nottinghamshire, NG17 8JY.

Investment Analysis

Investment Snapshot

Property & Refurbishment

Initial feasibility allowance: £10,000–£20,000. This is not a contractor quotation and should be confirmed following inspection and detailed scope.

Rental Analysis

The auctioneer-published rent identified in the source is approximately £22,500 per annum.

GDV / Resale Analysis

No independent RICS/Land Registry comparable valuation has been inserted solely from the scraped auction data. End value should be confirmed against recent genuinely comparable transactions before bidding.

Properties Sold Within Approx. 5 Miles

No independently verified sold comparables are inserted from the auction scrape alone. Confirm recent Land Registry/RICS comparable evidence before relying on a GDV.

Investor Risks & Due Diligence

• Review the full legal pack and title before bidding

• Confirm all auction administration / contract charges

• Verify property condition and obtain appropriate surveys

• Confirm refurbishment costs with contractor quotations

• Verify tenancy documents, rent history and deposit compliance

Recommendation

Preferred strategy: Commercial Income Investment. This recommendation is an initial appraisal based on the auctioneer's published property information and should be tested against the legal pack, inspection, finance and local market evidence.

Strategy Rating

Commercial Income: ★★★★☆

Development: ★★☆☆☆

Flip: ★★☆☆☆