2-bedroom flat · NG18 5NY
Sold STCListed 348 days
Opportunity summary
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About
A TWO BEDROOMED, SECOND FLOOR FLAT IN PURPOSE BUILT DEVELOPMENT. INCLUDES COMBINATION BOILER AND UPVC DOUBLE GLAZING. BEING SOLD SUBJECT TO THE CURRENT TENANCY, NOTICE WILL NOT BE SERVED.
ENTRANCE HALL, LOUNGE AND FITTED KITCHEN. TWO BEDROOMS, SHOWER ROOM AND BUILT IN STORAGE ROOM. COMMUNAL GARDENS MAINTAINED AS PART OF THE SERVICE CHARGE, (WHICH IS CURRENTLY £123.28 PER MONTH).
RENT INCREASE AGREED AT £525PCM, PRODUCING A GROSS RETURN OF 14% ON PURCHASE PRICE OF £45,000 Viewing: - and further information through our Mansfield office on .
Alternatively, email Directions: - From Mansfield town centre proceed along St Peters Way before turning onto Rosemary Street.
After approximately 1 mile, turn left onto Ladybrook Lane and then take the second left onto Noel Street where the property can be found at the end of this road. NB, Noel Street is permit parking.
Accommodation Comprises - The flat is approached via a communal stair well giving access to a wooden front door which leads to the Hallway - Having vinyl flooring and a radiator, the hallway provides access to most of the rooms.
Bedroom One - 3.87m x 2.55m (12'8" x 8'4") - Laminate flooring, radiator and UPVC double glazed window Bedroom Two - 2.92m x 2.09m (9'6" x 6'10") - Radiator, UPVC double glazed window and laminate flooring.
Shower Room - 2.56m (max) x 2.00m (max) (8'4" (max) x 6'6" (max) - Comprising a double shower with tiled walls, white W/C and sink with pedestal, radiator, built-in cupboard and tiled floor.
Lounge - 4.45m x 4.10m (14'7" x 13'5") - Vinyl flooring, radiator, 2 x UPVC double glazed windows and through to Storage Room - 3.23m x 0.88m (10'7" x 2'10" ) - Currently used for darts but spacious enough for other uses Kitchen - 3.72m x 2.56m (12'2" x 8'4" ) - Wall and base units, stainless steel sink and drainer, tiled splashbacks, wall mounted combi boiler, radiator, plumbing for automatic washing machine.
Outside - There are communal grounds, maintained as part of the service charge, which is currently £123.28 per month, from 1st April 2025 WE ARE ADVISED BY THE SELLER THAT THERE ARE 89 YEARS REMAINING ON THE LEASE Council Tax Band: A (Mansfield District Council Financial Advice - We offer help and advice in arranging your mortgage.
Please contact this office. Written quotations available on request. YOUR HOME IS AT RISK IF YOU DO NOT KEEP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT.
Money Laundering - Under the Protecting Against Money Laundering and the Proceeds of Crime Act 2002, we must point out that any successful purchasers who are proceeding with a purchase will be asked for identification i.e.
passport, driving licence or recent utility bill. This evidence will be required prior to solicitors being instructed in the purchase or sale of a property.
As With All Our Properties - we have not been able to check the equipment and would recommend that a prospective purchaser should arrange for a qualified person to test the appliances before entering into any commitment.
MA5803/24.6.25
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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