One-bedroom top floor

About this property

Guide price £47,000

Tenanted investment producing £820 per calendar month

Tenancy secured until 31 August 2027

Annual rental income of £9,840

Gross rental yield of approximately 20.94%

Approximately 13.98% return after stated service charge and ground rent

Self-contained city-centre studio apartment

Approximately 27 sq m or 291 sq ft

Approximately 240 years remaining on the lease

Residents’ gym, communal laundry and secure fob entry

Passenger lift and bicycle storage

Cash buyers only

Property Description

Tenanted City-Centre Investment

Trent Estate Agents is pleased to offer this tenanted studio apartment within Minerva House, a purpose-built development in Nottingham city centre.

Offered at a guide price of £47,000, the property is currently let at £820 per calendar month, equivalent to £9,840 per annum. The tenancy is secured until 31 August 2027, providing the incoming purchaser with an established rental income and substantially reducing the initial risk of a void period.

The sale is subject to the existing tenancy, the terms of which should be verified by the purchaser’s solicitor.

Investment Summary

Guide price: £47,000

Monthly rent: £820

Annual rental income: £9,840

Gross rental yield: approximately 20.94%

Annual service charge: £3,120

Annual ground rent: £150

Total stated annual property charges: £3,270

Income after stated property charges: £6,570

Return after stated property charges: approximately 13.98%

Tenancy secured until: 31 August 2027

The 13.98% figure is calculated after deducting the stated service charge and ground rent only. It does not represent a guaranteed net return and excludes other potential ownership and letting costs.

The Accommodation

Situated on the first floor, the self-contained apartment extends to approximately 27 sq m or 291 sq ft.

The open-plan accommodation incorporates a living and sleeping area, fitted kitchenette, study space and wardrobe storage. There is also a private en-suite shower room.

The apartment offers a compact and practical layout suited to the student rental market and is designed to provide low-maintenance accommodation within easy reach of Nottingham city centre.

Development Facilities

Residents of Minerva House benefit from access to:

On-site residents’ gym

Communal laundry facilities

Secure fob-controlled entrance

Passenger lift

Bicycle storage

Location

Minerva House is situated on Spaniel Row in central Nottingham, providing convenient access to Nottingham Trent University, Old Market Square and the wider city centre.

A range of shops, supermarkets, cafés, restaurants, leisure facilities and public transport connections are available nearby.

Leasehold and Material Information

Tenure: leasehold

Lease remaining: approximately 240 years

Service charge: approximately £3,120 per annum

Ground rent: approximately £150 per annum

Council tax band: B

Parking: no allocated parking

Occupancy: tenant in situ

Tenancy end date: 31 August 2027

Purchase method: cash buyers only

Prospective purchasers should ask their solicitor to verify the lease term, service charge accounts, ground-rent provisions, tenancy agreement, rent-payment history, utility arrangements and any restrictions affecting the property.

Viewing and Further Information

This property offers a relatively low entry price, an established tenancy and a strong headline rental return in a central Nottingham location.

For further information, a copy of the tenancy agreement or to arrange a viewing, please contact Trent Estate Agents.

Important Notice to Purchasers

These particulars have been prepared in good faith from information supplied by the seller and other sources believed to be reliable. They are intended as a general guide only and do not form part of any offer or contract. Prospective purchasers must not rely on them as statements or representations of fact and should verify all material information through their solicitor, surveyor and other professional advisers before committing to the purchase.

The stated rent, tenancy term, lease length, service charge, ground rent, utility arrangements and rent-payment history must be confirmed through the legal documentation. The property is being sold subject to the existing tenancy, and vacant possession is not offered unless confirmed otherwise in writing.

All rental yields are illustrative and based on a purchase price of £47,000 and annual rent of £9,840. The gross yield of approximately 20.94% is calculated before expenses. The return of approximately 13.98% deducts only the quoted annual service charge of £3,120 and ground rent of £150. It does not include management fees, repairs, insurance, utilities, taxation, legal costs, finance costs, void periods, rent arrears or any other expenditure. Rental income and future investment performance are not guaranteed.

The property is offered to cash buyers only. Prospective purchasers should establish why conventional mortgage finance may not be available and obtain independent legal, financial and tax advice.

All measurements, floor areas, photographs and descriptions are approximate and should be checked by inspection. Any offer is subject to contract, satisfactory legal enquiries, proof of funds and the required identity and anti-money-laundering checks.