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See how verdicts work1-bedroom flat · NG10 5QX
Opportunity summary
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About
A one double bedroom ground floor apartment located within this iconic Grade II Listed former lace mill. Ready for occupation with no chain. Designated secure car parking bay.
Adjacent to Erewash Canal. Close to local amenities and good transport links. Viewing recommended.
A one double bedroom ground floor apartment located within the landmark Grade II Listed former Victorian lace mill.
This stylish apartment retains parts of the original character and heritage of Springfield Mill. This former Victorian lace mill dates back to 1888 and remains part of the local landscape today.
Converted around 2006 to 104 luxury one and two bedroom apartments.
This property is located on the ground floor and accessed via a secure smart entrance system to the main lobby, with front door leading to a hallway where doors lead to all the rooms.
The living kitchen space having high ceilings, near full height feature window and a kitchen area with built-in appliances.
There is a double bedroom which also enjoys high ceilings, large window and a large recess (ideal for wardrobe space). The bathroom is finished with high quality units.
The property is electrically heated.
The development is situated within a secure courtyard with smart pedestrian and vehicle gate entry systems and the property benefits from a designated car parking bay.
Situated in the heart of Sandiacre and adjacent to Erewash Canal, an attractive working canal which forms part of the Nutbrook Trail and has a shared foot and cycle path which leads to many local destinations.
Sandiacre has many local amenities, including Lidl and highly reviewed restaurant and bistro.
There are further amenities in the nearby towns of Long Eaton and Stapleford, and for those looking to commute, approximately half a mile away can be found Junction 25 of the M1 motorway, as well as the A52 linking Nottingham and Derby with East Midlands Airport (approximately 20 minutes away).
This property will suit cash buyers looking to downsize or for a long term buy to let opportunity. Offered for sale with immediate vacant possession.
Communal Entrance Lobby Accessed from a secure smart keypad system, the lobby has an attractive staircase leading to the first and second floors, lift to all floors and a further door leading to the ground floor corridor where the property can be found on the left wing.
Entrance Hall Front entrance door, utility closet housing pressurized hot water system, plumbing and space for washing machine.
Living Kitchen (6.15 x 3.04 (20'2" x 9'11")) The kitchen area comprises a range of wall and base units with work surfacing and inset single bowl sink unit with single drainer.
Built-in electric oven and hob. Under-counter appliance space. Wall mounted electric heater, near full height feature bay window to the living area.
Bedroom (3.41 x 2.47 minimum (11'2" x 8'1" minimum)) A large walk-in recess (ideal for wardrobe space), electric heater, near full height feature window to the front.
Bathroom (2.52 x 1.62 (8'3" x 5'3")) Incorporating a three piece suite comprising wash hand basin with vanity unit, low flush WC with concealed cistern, bath with thermostatically controlled shower over.
Bathroom cabinet with light, heated towel rail. Outside Number 57 is located to the far side of the Mill and is accessed via the lower gates where there is a designated car parking space.
Agents Note The property is leasehold with a lease term of 250 years (from 01/01/2006). The annual ground rent is £270 (payable from 1st Jan to 31st Dec).
The annual service charge is £2345.02 (correct as of December 2020). A one bedroom ground floor apartment.
Value & comps
No previous sales on record.
Returns
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We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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FAQ
About 57, Springfield Mill, Nottingham
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