2-bedroom flat · NG24 1UW
Sold STCReduced £10k (−5.3%) on 26 JunListed 230 days
Opportunity summary
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About
Guide price £190,000 to £200,000. A superb two double bedroom first floor apartment situated in this prestigious Grade II listed building in the heart of Newark town centre.
The property has lofty ceilings and deep wooden skirtings throughout and, in addition to the bedrooms, there is a fabulous open plan lounge/diner/kitchen area, and a well appointed shower room.
The property is centrally heated, has two allocated parking spaces and is available for purchase with no chain. Situation And Amenities The property is situated a short distance from the town centre.
Newark Northgate railway station has fast trains connecting to London King's Cross with journey times of approximately 75 minutes.
Additionally Newark Castle station has trains connecting to Nottingham and Lincoln. There are nearby access points for the A1 and A46 dual carriageways.
Shopping facilities in Newark include a recently opened M&S food hall, Asda, Waitrose, Morrisons and Aldi.
Newark also boasts several individual boutique shops as well as major retail chains and an array of markets.
There is a wide range of schooling in the area, and leisure facilities are plentiful including a fine choice of restaurants and bars, fitness centres, gymnasiums and golf courses.
Introduction Bishops Place is an exclusive development of just 15 luxury apartments located in the heart of Newark Town centre.
This iconic Grade II listed 18th Century building was originally built for Dr Bernard Wilson, the vicar of Newark, in the late 18th century and was sympathetically converted by local developers in 2021.
The apartments retain many original features, such as high ceilings, picture rails, sash windows, exposed beams and cast-iron radiators. Access to the apartments is via a secure door entry system.
Entrance Hallway The entrance hallway has a door opening leading through to the lounge/dining/kitchen area and a door into bedroom one. The hallway has lvt flooring and a ceiling light point.
Open Plan Lounge/Diner/Kitchen Area This fabulous bright and airy living space has two sash windows to the side elevation.
Kitchen Area The kitchen area is fitted with an extensive range of base and wall units complemented with roll top work surfaces and matching splash backs.
There is a one and a half bowl stainless steel sink and integrated appliances include an oven with ceramic hob and extractor hood above, larder fridge/freezer and a washer/dryer.
Situated adjacent to the kitchen area is a useful storage cupboard which also houses the central heating boiler. The kitchen area has lvt flooring and recessed ceiling spotlights.
Lounge/Diner Area (16' 6'' x 13' 8'' (5.03m x 4.16m)) The lounge/dining area is of sufficient size to comfortably accommodate both lounge and dining room furniture, and has a cast iron radiator and a ceiling light point.
An archway leads through to the shower room and bedroom two.
Bedroom One (13' 5'' x 11' 8'' (4.09m x 3.55m) (excluding door recess)) This superb double bedroom has two sash windows to the side elevation, a ceiling light point and a radiator.
Bedroom Two (12' 3'' x 10' 7'' (3.73m x 3.22m)) A further very good sized double bedroom having a sash window to the rear elevation, a useful wardrobe recess, a ceiling light point and a radiator.
Shower Room (6' 7'' x 5' 5'' (2.01m x 1.65m)) The well appointed shower room is fitted with a walk-in shower cubicle with mains shower and curved shower screen, vanity unit with wash hand basin inset and storage beneath, and a WC.
The room is complemented with lvt flooring and part ceramic tiling to the walls. In addition there are recessed ceiling spotlights, a shaver socket, a heated towel rail and an extractor fan.
Outside Bishops Place is located in secure grounds with delightful gardens and is accessed via electrically operated gates which lead onto the allocated parking.
Apartment 10 has two allocated parking spaces. Lease Information The tenure of the property is leasehold on a 150 year lease from January 1st 2019.
The Management Company is Base Lockwood and there is a Peppercorn Ground Rent required. We are just awaiting information on the current Service Charge which also includes buildings insurance.
This will be provided as soon as possible. Council Tax The property is in Band C.
Value & comps
No previous sales on record.
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Returns
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Archie refurb estimate: a Pro feature
0.0% below starting price
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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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About 10 Bishops Place, 20 Balderton Gate, Newark
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