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Coach House, 30, Magdala Road, Nottingham, NG3 5DF

Guide price: £175,000.00|Auction date: 2019-10-23|Lot: 4|House, Residential

PROPERTY DETAILS

ADDRESSCoach House, 30 Magdala Road, Nottingham, NG3 5DF
TYPEHouse, Residential
TENUREFor Sale Freehold
TENANCYVacant,Investment
POSTED ON18th September 2019

DESCRIPTION

Features
Auction Date: 23rd & 24th October 2019
Semi-detached property comprising three flats
2 x 2 bedroom flats and 1 x 1 bedroom flat
Ideal investment or development opportunity (STP)
Potential to add capital value
Potential income of £19,800 per annum
Highly desirable residential location
Close to Nottingham City Centre
UPVC double glazed windows
On street parking

Property Details
•For Sale By Online Auction: 23rd & 24th October 2019
•Guide Price: £175,000+
•Freehold semi-detached property comprising three self-contained flats
•Ideal investment or development opportunity STP
•Part let: Potential total Income: £17,400 per annum
•Freehold

•For Sale By Online Auction: 23rd & 24th October 2019
•Guide Price: £175,000+
•Freehold semi-detached property comprising three self-contained flats
•Ideal investment or development opportunity STP
•Part let: Potential total Income: £19,800 per annum
•Freehold

This freehold semi-detached property is located on Magdala Road, close to all amenities and within easy reach of Nottingham City Centre.

The property comprises three fully self-contained flats, the accommodation includes two x two-bedroom flats and a one bedroom flat. Each with its own shower room and kitchen facilities, the kitchens all benefit from a range of fitted cupboard units and part tiled walls. The three living area’s include neutrally painted walls, GCH radiators, and two large windows providing a light and spacious feel.

Externally, the property benefits UPVC double glazed windows and on street parking within the vicinity.

Investment Analysis
The one bedroom self-contained flat is currently let at £450 pcm (£5,400 per annum). Both two bedroom flats are currently vacant, however we are advised that each flat is likely to let for £600 pcm (£7,200 per annum) per flat, with a total potential income of £19,800 per annum, representing a potential gross yield of 11.31%, based on the guide price.

There is good potential to add capital value to the property through a programme of refurbishment or re-development, subject to the necessary planning consents.

Services
We understand the property to have mains gas, electricity, water and drainage. However, interested parties should make their own enquiries.

Tenure
Freehold

Council Tax
Each flat is rated in Council Tax Band B. Council Tax payable for 2019/2020 is £1,585.

Guide Price
£175,000+

VAT
VAT not applicable

Buyer’s Premium
2% (min. £3,600) inc. VAT

Viewings
Viewings by appointment. Viewings are available on Tuesdays, Thursdays and Saturdays only. Please contact a member of John Pye Property on 0115 970 6060 or email property@johnpye.co.uk to book an appointment.

Sell Your Property
If you are thinking of selling your property, contact us now for a free appraisal and benefit from:

•0% Seller Fee
•£0 Entry Fee
•£0 Marketing Costs
•20 Working Day Completion
•Monthly auctions

LOCATION

Location: Coach House, 30 Magdala Road, Nottingham, NG3 5DF

Nottingham (1.6 miles)

Bulwell (2.8 miles)

Carlton (2.9 miles)

AGENT'S DETAILS

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