1-bedroom flat · NG24 3DA
Sold STCListed 34 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Guide price £90,000 to £100,000.
A superbly presented one bedroom ground floor apartment with a lease that was extended to 171 years in 2021, and situated in close proximity to the popular lakeside development in Balderton.
In addition to the double bedroom, the property has an entrance porch, excellent sized lounge/diner, kitchen and shower room.
There is a delightful garden to the front and two allocated parking spaces. The property is double glazed and has electric heating.
Situation And Amenities Balderton is located approximately three miles to the south of the market town of Newark on Trent.
Local amenities include a post office, pharmacy, supermarkets including Lidl, Tesco and Sainsburys, a Health Centre, well respected schools and regular bus services to Newark town centre.
The location is in close proximity of Route 64 of the National Cycle Network which runs from Market Harborough to Lincoln.
Newark has excellent shopping facilities including major retail chains, Marks & Spencer, Morrisons, Asda, Aldi and Waitrose.
The town is ideally placed for commuter links with the A46 to Nottingham and Lincoln, and the A1 for travel North and South.
Newark Northgate Railway Station is on the East Coast mainline and regular trains to London take approximately 80 minutes.
Additionally Newark Castle station has trains connecting to Nottingham and Lincoln. Accommodation Upon entering the sliding patio doors located to the side, these lead into the entrance porch.
Entrance Porch The entrance porch provides a useful storage facility for coats and shoes etc., and has a glazed door into the lounge/diner.
Lounge/Diner (16' 8'' x 9' 3'' (5.08m x 2.82m)) This excellent sized reception room has a window to the front elevation and doors providing access to the inner hallway and bedroom.
Also accessed from here is a useful storage cupboard.
The room is of sufficient size to comfortably accommodate both lounge and dining room furniture, and has a ceramic tiled floor, a ceiling light point and a wall mounted electric heater.
Inner Hallway The inner hallway is accessed via a sliding door from the lounge/diner and has doors into the kitchen, shower room and airing cupboard. The hallway has a ceramic tiled floor.
Kitchen (10' 0'' x 5' 7'' (3.05m x 1.70m)) The kitchen has a window to the front elevation and is fitted with a good range of base and wall units, with roll top work surfaces and tiled splash backs.
There is a stainless steel sink, space for a free standing electric cooker with extractor hood above, space and plumbing for a washing machine and further space for a vertical fridge/freezer.
The kitchen has a ceramic tiled floor and a ceiling light point.
Shower Room (5' 8'' x 5' 7'' (1.73m x 1.70m)) The well appointed shower room has an opaque window to the side and has a double width shower with electric shower fitted, floating wash hand basin and WC.
The room is complemented with ceramic floor and wall tiling, and also has a ceiling light point and a wall mounted heater.
Bedroom (11' 9'' x 10' 3'' (3.58m x 3.12m) (at widest points)) An excellent sized double bedroom with a window to the rear elevation and a ceiling light point.
Garden The west facing garden is of an excellent size and very tastefully landscaped. The garden comprises a shaped lawn edged with borders containing a vast array of mature shrubs, plants and trees.
There is a patio area and this provides a wonderful outdoor seating and entertaining space. Also within the garden is a covered pergola. Gated access leads around to the two allocated parking spaces.
The garden shed is included within the sale. Council Tax The property is in Band A.
Lease Information The lease was extended in 2021 to 171 years and the ground rent and maintenance charges were waived.
The only expenditure with regards to the lease is approximately £400 per annum for buildings insurance.
Value & comps
No previous sales on record.
Returns
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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.
Area
Agent & docs
FAQ
About 43, Willow Road, Newark
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