9A FOREST ROAD EAST

Investment News

Acting on behalf of a long term private investor, FHP is pleased to announce the completion of the sale of the above well located student investment.

The property, which is situated on the corner of Forest Road and North Sherwood Street originally comprised a two storey dwelling house occupied for many years as an architect’s office and was subsequently converted into two student flats capable of accommodating 9 parties.

This property is extremely well let on AST’s for 48 weeks at rents of £85 per week.

The property produced a gross income of £36,720 per annum.  The net income was estimated at something in the region of £32,000 per annum. 

Terms were agreed relatively quickly once marketing commenced at a figure close to the asking price of £250,000 to show a gross return of 14.86% before costs.  It should be noted that some works of refurbishment/redecoration were required and therefore the purchasers did have to put in a certain amount of capital. 

Noel Roper who acted on behalf of the vendor commented:-

“We were extremely pleased to be able to achieve a sale of this property relatively quickly at an advantageous price.  In recent years there has been a substantial amount of conversion works of former offices and residential property into student accommodation within this area.  The property is very conveniently located for Nottingham Trent University.”

The purchaser, who represented themselves, are experienced property investors.

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