House For Sale £780,000
Derby Grove, Nottingham

This detached, HMO licensed property, will make a superb investment purchase!

The property provides well presented accommodation arranged over three floors including a sitting room, a kitchen with appliances, eight furnished bedrooms, two shower rooms (one with a wc), and two further wcs.

The basement is an ideal space for a billiard table! (This basement cannot be classed as living room, since no fire exits exist).

Benefiting from gas central heating and double glazing, the property also has off road parking, a garden to the rear, and small forecourt at the front.

The property is located within easy reach of various University sites in Nottingham, and is close to facilities in Nottingham City Centre, and to the Queens Medical Centre. Main road routes and local transport links give excellent access to all of the above named.

Currently let for the academic years 2023/2024 and 2024/2025. Current Income £64,000.

Viewing is essential!

Accommodation - The entrance door at the front of the property opens to the entrance hall.

The ground floor accommodation includes two bedrooms, a living room (from which stairs rise to the first floor), and a kitchen with a full range of appliances.

On reaching the first floor, doors give access to three bedrooms, two shower rooms (one with a wc), and two further wcs. Stairs rise from the landing, to the second floor.

The second floor landing gives access to three further bedrooms.

Basement - The basement provides an ideal social space.

Interested parties should note that this basement cannot be classed as living room, since there are no fire exits.

Outside - The property has off road parking for a number of vehicles, a small garden to the rear, and a forecourt with steps up to the entrance door at the front.

Currently Let - We are advised that the property is currently let at £156.00 per room per week (excluding bills). The revenue achieved for the 52 week term is £64,896.00 (for the 2023-2024 academic year).

We understand also, that students have signed an agreement to rent the property for the academic year 2024 - 2025.

Council Tax Band - Council Tax Band B. Nottingham City Council.

Amount Payable 2023/2024 £1,875.73.

Referral Arrangement Note - Thomas James Estate Agents always refer sellers (and will offer to refer buyers) to Knights PLC, Premier Property Lawyers, Ives & Co, Curtis & Parkinson, Bryan & Armstrong, and Marchants for conveyancing services (as above). It is your decision as to whether or not you choose to deal with these conveyancers. Should you decide to use the conveyancers named above, you should know that Thomas James Estate Agents would receive a referral fee of between £120 and £240 including VAT from them, for recommending you to them.