Radcliffe Road, West Bridgford, NG2

Updated Financials with room to increase rents further!
Now achieving around 8.6% gross yield and net over 6%! Ideal Investment in a prominent and sought after location.
Fully let with professional tenants.

Investment Summary

Occupied by professional tenants this sought after development is low maintenance, has minimum turnovers and no void periods. The full accommodation over the two apartments and three floors consists of 11 bedrooms, 9 shower rooms and 4 reception rooms which are all offered fully furnished with bills included and a weekly communal clean to maintain the high standard. Ideally situated in desirable location of West Bridgford, Nottingham in the East Midlands.

Accommodation

These highly sought after professional HMOs benefit from accommodation consisting of a combined 11 bedrooms which are furnished throughout to a high standard. Seven of the bedrooms come complete with their own private shower rooms which include three piece white suites comprising of a low level WC, pedestal wash hand basin and walk in shower. In addition to this, there are two further communal shower rooms which are shared between the remaining bedrooms. Each apartment has a large living area and separate kitchen which comes complete with a range of wall and base cupboard units with roll top work surfaces and sociable breakfast bar area. In addition to this there are integrated appliances and two large freestanding fridge / freezers and coin operated washing machines and dryers.

Outside

Looking to the front of the property two off road parking spaces can be found to the left hand side and a further 5 spaces to the right hand side, these have been offered to the tenants on a first come first served basis with the addition of on street parking on Trevelyan Road. To the rear of the development there is a courtyard area shared between the two apartments with secure bicycle storage.

Location

Situated on the corner of Radcliffe Road and Trevelyan Road in West Bridgford tenants are within walking distance to Trent Bridge and West Bridgford Central Avenue where there are high end local bars, restaurants, a large range of retail and grocery shops and a number of sporting venues such as Nottingham Forest Football City Ground, Trent Bridge Cricket Ground and Holme Pierrepont National Water Sports Centre and Country Park. Located in the South of Nottingham the development is close to major commuting routes with easy access to the City Ring Road, A52 and A46 which lead to the A1 and M1. The most popular form of public transport in this area is the regular buses which have routes on Radcliffe Road to take you into the City Centre in 15 minutes.

Financial Information

All rooms are fully occupied and let on individual Assured Shorthold Tenancy Agreements with a mixture of fixed and periodic terms. The breakdown of rent currently being achieved: Room 1, 96a, Radcliffe Road ?510.00 pcmRoom 2, 96a, Radcliffe Road ?650.00 pcmRoom 3, 96a, Radcliffe Road ?520.00 pcmRoom 4, 96a, Radcliffe Road ?575.00 pcmRoom 5, 96a, Radcliffe Road ?600.00 pcmRoom 1, 96b, Radcliffe Road ?625.00 pcmRoom 2, 96b, Radcliffe Road ?625.00 pcmRoom 3, 96b, Radcliffe Road ?575.00 pcmRoom 4, 96b, Radcliffe Road ?575.00 pcmRoom 5, 96b, Radcliffe Road ?675.00 pcmRoom 6, 96b, Radcliffe Road ?575.00 pcmTotal - ?6,505 pcm / ?78,060 per annum.This property is generating ?78,060 per annum and generates a gross yield of 8.6%. and net over 6%!Additional income is received from the coin operated washing machines and dryers. A breakdown of costs:Gas ?2,650Elec ?4,800 Water ?1,750Council tax ?3,850Broadband ?3,100Insurance ?1,000Weekly Cleaning ?2,500Fire Alarm ?200TV License ?159?20,009 per annum