House For Sale £875,000
Closing date for offers: 12 noon on Friday 19th August 2022.
The Yard is situated on Albert Road, off Broadgate, close to the West Entrance to Nottingham Uni's University Park Campus and a short walk away from Beeston town centre.
Built in the 2000s, The Yard is a development of 6 flats over ground and first floors with basement parking. Each floor has 2no two bed flats and 1no one bed flat. The flats are all currently let unfurnished at rents between £565pcm and £750pcm.
The Yard is offered for sale as part of the disposal of the assets. Offers are invited for:
Lot 1 individually: Sycamore Court (21 flats)
Lot 2 individually: The Yard, Albert Road (6 flats)
Lots 1 and 2 together: Sycamore Court and 20 Albert Road and The Yard, Albert Road
Location
The Yard is situated on Albert Road, off Broadgate, the main road connecting Nottingham University's West Entrance with Beeston town centre. The close proximity to the University means that much of the surrounding housing provides student accommodation. There are a number of pbsa blocks adjoining: Broadgate Park, Dagfa House, Lower Court and Varsity Beeston.
Beeston town centre is a 5-10 minute walk away along Broadgate. There is a wide range of grocery and other shopping and leisure facilities in the town. There are three supermarkets (Sainsburys, Tesco and Lidl) as well as greengrocers, butchers, fishmongers and specialist food stores. The main High Street banks are also represented and there is a fantastic selection of pubs, restaurants and take aways selling food from all around the world.
Description
The Yard has brick elevations with a pitched tiled roof. There are flats on ground and first floor levels with a basement parking area. The flats are finished to a modern specification with gas central heating, double glazed windows and modern finishes.
Floor Plans
The floor plans show the layout of the flats.
Flat 1
Ground floor: A two bed flat with kitchen. Living room and bathroom. Let from 1 June 2017 at £565pcm.
Flat 2
Ground floor: A two bed flat with open plan kitchen and living room and bathroom. Let from 1 August 2021 at £650pcm.
Flat 3
Ground floor: A one bed flat with open plan kitchen and living room and bathroom. Let from 10 July 2020 at £580pcm.
Flat 4
First floor: A two bed flat with kitchen. Living room and bathroom. Let from 12 March 2022 at £750pcm.
Flat 5
First floor: A two bed flat with open plan kitchen and living room and bathroom. Let from 1 July 2021 at £645pcm.
Flat 6
First Floor: A one bed flat with open plan kitchen and living room and bathroom. Let from 8 November 2021 at £700pcm.
Basement
Basement area with parking for 6 vehicles.
Occupational Leases
Each of the properties is let on an Assured Shorthold Tenancy with many now occupying by way of periodic tenancies following the expiry if the initial fixed term.
The properties are all let on an unfurnished basis.
The total income is £46,680 per annum.
A Tenancy Schedule detailing the rents is available separately.
Asset Management
The properties have historically been let on an unfurnished basis to professional occupiers. There is potential to refurbish / remodel and let on a furnished basis to the student market to improve the income stream.
Method of Sale
The assets of the Limited Company that owns The Yard (and Sycamore Court, 21 flats and a house located nearby on Broadgate / Albert Road are offered for sale. They are being offered as follows:
Lot 1: Sycamore Court flats (plus option to buy 20 Albert Road and additional land if required)
Lot 2: The Yard, Albert Road
Offers are also invited for the purchase of Lots 1 and 2 together.
Alternatively, offers will be considered for the shares of the company so that the purchase can be completed by way of share transfer rather than freehold property sales.
Closing Date for Offers
1. Receipt of Offers - Best and final offers are to be in writing, marked "Private and Confidential", and received either at CP Walker & Son's office (107 High Road, Beeston, Nottingham, NG9 2JU) or by email to by no later than 12:00 noon on Friday 19th August 2022.
2. Amount of Offer(s): The amount offered for the purchase of:
Lot 1: Sycamore Court (21 flats), Development Land (To the rear of 14-20 Albert Road) - Guide Price £2.75m
Lot 1A: Land to the rear of 22 Albert Road - Guide Price £40k
Lot 1B: Land to the rear of 24 Albert Road - Guide Price £40k
Lot 1C: 20 Albert Road - Guide Price £245k
Lot 2: The Yard (6 flats) - Guide Price £875k
Or alternatively the amount offered for the purchase of the shares of Sycamore Enterprises (Nottingham) Limited
3. The Bidder: The name of the person or company that would be making the purchase
4. Funding: Confirmation of how the purchase is to be financed. We recommend providing evidence.
5. Conditions: Any conditions that your offer is subject to. If your offer is subject to the usual enquiries that a solicitor would make, state "subject to contact only". Other conditions (such as obtaining alternative planning consent) must be clearly stated.
6. Due Diligence: Details of any due diligence carried out and confirmation that the property has been inspected
7. Any Other Information: Any other points you feel are relevant to your offer and/or ability to complete the sale
Notes
X Offers will be opened by the vendor or agent at the same time
X The vendor is not committed to accepting the highest or any offer
X All offers received will be considered. The offer best suiting the vendor's purposes will be selected
X Any offer accepted will be conditional upon exchange of contract
Asking Price
Offers are invited for the Lots as follows:
Lot 1: Sycamore Court flats - offers in the region of £2.75m (plus additional lands if required)
Lot 2: The Yard, Albert Road - offers in the region of £875k
Offers are also invited for the purchase of Lots 1 and 2 together.
Information Pack
The following information is available on request:
Tenancy schedule
Floor Plans
Internal Photographs
Sample Tenancy Agreements
Title Plan
EPCs
EICRs and Gas Safety Certs will be provided during the due diligence period
Planning
The properties are all within C3 use. Prospective purchasers are advised that the property falls within an area where the Local Planning Authority has made an Article 4 Direction. Accordingly, any proposed change of use from C3 to C4 use would require planning consent.
EPC Rating
EPCs are available for each of the properties. All EPCs are C Rating with the exception of Flat 6 which is a B.
Viewing
Viewings are strictly by appointment and on specified open days.
Further Information
Please contact Dan Walker on or or Rex Walker on or at
The Yard is situated on Albert Road, off Broadgate, close to the West Entrance to Nottingham Uni's University Park Campus and a short walk away from Beeston town centre.
Built in the 2000s, The Yard is a development of 6 flats over ground and first floors with basement parking. Each floor has 2no two bed flats and 1no one bed flat. The flats are all currently let unfurnished at rents between £565pcm and £750pcm.
The Yard is offered for sale as part of the disposal of the assets. Offers are invited for:
Lot 1 individually: Sycamore Court (21 flats)
Lot 2 individually: The Yard, Albert Road (6 flats)
Lots 1 and 2 together: Sycamore Court and 20 Albert Road and The Yard, Albert Road
Location
The Yard is situated on Albert Road, off Broadgate, the main road connecting Nottingham University's West Entrance with Beeston town centre. The close proximity to the University means that much of the surrounding housing provides student accommodation. There are a number of pbsa blocks adjoining: Broadgate Park, Dagfa House, Lower Court and Varsity Beeston.
Beeston town centre is a 5-10 minute walk away along Broadgate. There is a wide range of grocery and other shopping and leisure facilities in the town. There are three supermarkets (Sainsburys, Tesco and Lidl) as well as greengrocers, butchers, fishmongers and specialist food stores. The main High Street banks are also represented and there is a fantastic selection of pubs, restaurants and take aways selling food from all around the world.
Description
The Yard has brick elevations with a pitched tiled roof. There are flats on ground and first floor levels with a basement parking area. The flats are finished to a modern specification with gas central heating, double glazed windows and modern finishes.
Floor Plans
The floor plans show the layout of the flats.
Flat 1
Ground floor: A two bed flat with kitchen. Living room and bathroom. Let from 1 June 2017 at £565pcm.
Flat 2
Ground floor: A two bed flat with open plan kitchen and living room and bathroom. Let from 1 August 2021 at £650pcm.
Flat 3
Ground floor: A one bed flat with open plan kitchen and living room and bathroom. Let from 10 July 2020 at £580pcm.
Flat 4
First floor: A two bed flat with kitchen. Living room and bathroom. Let from 12 March 2022 at £750pcm.
Flat 5
First floor: A two bed flat with open plan kitchen and living room and bathroom. Let from 1 July 2021 at £645pcm.
Flat 6
First Floor: A one bed flat with open plan kitchen and living room and bathroom. Let from 8 November 2021 at £700pcm.
Basement
Basement area with parking for 6 vehicles.
Occupational Leases
Each of the properties is let on an Assured Shorthold Tenancy with many now occupying by way of periodic tenancies following the expiry if the initial fixed term.
The properties are all let on an unfurnished basis.
The total income is £46,680 per annum.
A Tenancy Schedule detailing the rents is available separately.
Asset Management
The properties have historically been let on an unfurnished basis to professional occupiers. There is potential to refurbish / remodel and let on a furnished basis to the student market to improve the income stream.
Method of Sale
The assets of the Limited Company that owns The Yard (and Sycamore Court, 21 flats and a house located nearby on Broadgate / Albert Road are offered for sale. They are being offered as follows:
Lot 1: Sycamore Court flats (plus option to buy 20 Albert Road and additional land if required)
Lot 2: The Yard, Albert Road
Offers are also invited for the purchase of Lots 1 and 2 together.
Alternatively, offers will be considered for the shares of the company so that the purchase can be completed by way of share transfer rather than freehold property sales.
Closing Date for Offers
1. Receipt of Offers - Best and final offers are to be in writing, marked "Private and Confidential", and received either at CP Walker & Son's office (107 High Road, Beeston, Nottingham, NG9 2JU) or by email to by no later than 12:00 noon on Friday 19th August 2022.
2. Amount of Offer(s): The amount offered for the purchase of:
Lot 1: Sycamore Court (21 flats), Development Land (To the rear of 14-20 Albert Road) - Guide Price £2.75m
Lot 1A: Land to the rear of 22 Albert Road - Guide Price £40k
Lot 1B: Land to the rear of 24 Albert Road - Guide Price £40k
Lot 1C: 20 Albert Road - Guide Price £245k
Lot 2: The Yard (6 flats) - Guide Price £875k
Or alternatively the amount offered for the purchase of the shares of Sycamore Enterprises (Nottingham) Limited
3. The Bidder: The name of the person or company that would be making the purchase
4. Funding: Confirmation of how the purchase is to be financed. We recommend providing evidence.
5. Conditions: Any conditions that your offer is subject to. If your offer is subject to the usual enquiries that a solicitor would make, state "subject to contact only". Other conditions (such as obtaining alternative planning consent) must be clearly stated.
6. Due Diligence: Details of any due diligence carried out and confirmation that the property has been inspected
7. Any Other Information: Any other points you feel are relevant to your offer and/or ability to complete the sale
Notes
X Offers will be opened by the vendor or agent at the same time
X The vendor is not committed to accepting the highest or any offer
X All offers received will be considered. The offer best suiting the vendor's purposes will be selected
X Any offer accepted will be conditional upon exchange of contract
Asking Price
Offers are invited for the Lots as follows:
Lot 1: Sycamore Court flats - offers in the region of £2.75m (plus additional lands if required)
Lot 2: The Yard, Albert Road - offers in the region of £875k
Offers are also invited for the purchase of Lots 1 and 2 together.
Information Pack
The following information is available on request:
Tenancy schedule
Floor Plans
Internal Photographs
Sample Tenancy Agreements
Title Plan
EPCs
EICRs and Gas Safety Certs will be provided during the due diligence period
Planning
The properties are all within C3 use. Prospective purchasers are advised that the property falls within an area where the Local Planning Authority has made an Article 4 Direction. Accordingly, any proposed change of use from C3 to C4 use would require planning consent.
EPC Rating
EPCs are available for each of the properties. All EPCs are C Rating with the exception of Flat 6 which is a B.
Viewing
Viewings are strictly by appointment and on specified open days.
Further Information
Please contact Dan Walker on or or Rex Walker on or at
