3 bed apartment to buy in NG1

Barker Gate, Nottingham, Nottinghamshire, NG1 1JU

Brochure

Bedrooms: x 3

Bathrooms: x 2

Receptions: x 1

Tenure: Leasehold

Connecting to auction...

Starting bid£185,000

Please wait while we establish connection

Key Information

Council tax: Band C
EPC rating: B
Heating supply: Gas
Electricity: National Grid
Broadband: FTTC (fibre to the cabinet), FTTP (fibre to the premises)
Mobile signal: Good
Parking: Secure

Property features

BEING SOLD VIA SECURE SALE ONLINE BIDDING. TERMS & CONDITIONS APPLY
Excellent rental history spanning 15+ years
Huge 6.78m x 7.00m open-plan living/kitchen/dining space
VACANT POSSESSION – Refurbish, reposition & re-LetThree
EPC B Until 2035 | 999-Year Lease | Ground Rent £NIL
Price reflects refurbishment opportunity
Potential Rental Income £1,750 PCM / £21,000 per year
Total floor area approximately 1,200 sq ft
Three Double Bedrooms, Two Bathrooms & Gated Parking
No chain, immediate exchange of contracts available

3 bed apartment to buy in NG1

**BEING SOLD VIA SECURE SALE ONLINE BIDDING. TERMS & CONDITIONS APPLY.**

This excellent HMO property represents a compelling opportunity to acquire a generously proportioned three-bedroom HMO investment in the heart of Nottingham city centre.

Offered for sale in partnership with Pattinson Auction through its Secure Sale online bidding process, the property presents an attractive opportunity for investors seeking an established rental investment with considerable potential for improvement.

**OVERVIEW**

Extending to approximately 1,194 sq ft / 111 sq m, the apartment is notably larger than many conventional city-centre apartments and offers a layout particularly well suited to three sharers.

The property has an excellent rental history spanning approximately 15 years, demonstrating long-standing appeal within the Nottingham rental market. Based on a potential rental income of around £1,750 per calendar month, the property could generate approximately £21,000 per annum before expenses. The gross yield will depend on the final purchase price, achievable rent and associated costs.

**THE PROPERTY**

At the centre of the apartment is an impressive open-plan living, kitchen and dining room measuring approximately 6.78m x 7.00m, creating a substantial communal space with clearly defined areas for cooking, dining and relaxing.

For an investor targeting shared occupation, this is a significant strength. The property offers tenants a genuinely comfortable communal environment rather than simply a series of bedrooms with limited shared space.

The fitted kitchen provides extensive work surfaces and storage, integrated appliances and an island-style breakfast bar, although an incoming purchaser may wish to modernise elements of the kitchen as part of a wider cosmetic refurbishment.

The apartment provides three well-proportioned double bedrooms:

Bedroom One: approximately 2.89m x 4.74m

Bedroom Two: approximately 2.98m x 4.39m

Bedroom Three: approximately 2.89m x 5.61m

Each offers space for a double bed together with storage and study furniture, making the accommodation suitable for either student or professional sharers.

There are also two bathrooms, including an en-suite arrangement, which further strengthens the practicality of the layout for shared occupation.

**THE RENTAL OPPORTUNITY**

While investors often favour tenanted property for immediate income, vacant possession can be a genuine advantage here. The purchaser is not inheriting an existing tenancy, historic rental level, furniture package or another landlord's specification.

Having operated successfully as a rental property for many years, it would now benefit from cosmetic updating, particularly to the kitchen, bathrooms and general presentation. This opportunity for improvement has been considered within the auction pricing strategy.

The surrounding rental market strongly supports the investment proposition. Census analysis of the approximately 1km catchment identifies 23,455 residents and 9,304 households, with 50% of homes privately rented, demonstrating a firmly established rental market.

The tenant pool is also broader than students alone. Census records 24,007 people working within the catchment, alongside a daytime population of approximately 38,155, reinforcing the area's appeal to working professionals as well as students.

The city's urban character is further reflected in travel behaviour, with approximately 60.1% of households having no car or van, supporting the importance of walkability, public transport and proximity to employment and amenities.

Despite this, the apartment also benefits from one secure parking space behind electric gates, adding another useful point of difference from competing city-centre stock.

Another notable investment feature is the property's EPC rating of B (85), stated as valid until 2035, providing a strong starting point from an energy-efficiency perspective.

The tenure position is also attractive, with a 999-year lease from 24 June 1999, £NIL ground rent and service charges currently stated at £3,348.58 per annum.

**INVESTMENT SNAPSHOT**

- Starting Bid: £185,000 (Secure Sale Online Auction)
- Potential Rent: £1,750 PCM
- Potential Annual Income: £21,000
- Approx. 1,194 Sq Ft / 111 Sq M
- Three Double Bedrooms
- Two Bathrooms
- Secure Parking
- EPC B
- Vacant Possession

This is a substantial city-centre apartment with a proven rental history spanning approximately 15 years, excellent internal proportions, strong local rental fundamentals and clear scope for an incoming investor to improve, reposition and relaunch the property for its next rental cycle.

**PROPERTY INFORMATION**

Tenure: Leasehold

Lease: 999 years from 24 June 1999

Ground Rent: £NIL

Service Charge: £3,348.58 per annum

Council Tax: Band C

EPC: B (85), valid until 2035

The above tenure, lease and service-charge information has been provided by the Seller and should be verified by the purchaser's legal representative during conveyancing.

Length of Lease: 972
Annual Service Charge Amount: £3,348.00

Open map Street view

This property is being sold subject to unconditional reservation fee auction terms and conditions.

Timescales

Contracts will exchange immediately. There are 28 days in which to complete the purchase.

Legal Pack

A legal pack is available to download. Special conditions may apply.

We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.

Deposit

In order to secure the purchase a buyer will pay a deposit of 5% which contributes towards the overall purchase price of the property.

The deposit is non-refundable.

Buyer Fees

This property is sold subject to a non-refundable reservation fee of 5% + VAT to a minimum of £6,000 + VAT (£7,200 inc VAT) This does not form part of the purchase price.

A reservation fee is payable by the buyer where a seller has opted to sell with no fees. As a result, a lower reserve price is usually agreed on lots where a reservation fee is applicable.

More Information

For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk

ONLINE AUCTION NOTICE

I hereby acknowledge and confirm the following:

My bid may be accepted by the seller at any time before the close of the auction. It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack.

If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.

Any amount payable at the close of the auction must be paid within 1 hour.

Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second.

Each auction will automatically stay open until there has not been a bid within the final 10 minutes. If no bid has been submitted within the final 10 minutes of the auction, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last-minute (or second) bidding and makes for a fairer auction as in a live-room auction situation.

Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity.

The auctioneer is not responsible for any tech issues, power outage or error messages which hampers or eliminates an individual's opportunity to bid.

It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. It is therefore beneficial to bid on your chosen lot at your earliest opportunity.

The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice.

Minimum online bidding increments:
£50,000 - £250 minimum bid
£50,001 to £150,000 - £500 minimum bid
£150,001 to £250,000 - £1,000 minimum bid
£250,001 to £750,000 - £2,500 minimum bid
£750,001 to £1.5 Million - £5,000 minimum bid
£1.5 Million Plus - £10,000 minimum bid

Please note this bidding process applies specifically to online auctions.

More Information is available:

For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk

The legal pack is not yet available. The auction will not end until the legal pack has been made available here for at least 24 hours.

Heating supply: Gas
Electricity supply: National Grid
Water supply: Direct mains water
Sewerage supply: Standard UK domestic
Air conditioning: No
Broadband: FTTC (fibre to the cabinet), FTTP (fibre to the premises)
Mobile signal: Good

Construction

Year built: 1999
Construction materials: Brick and block

Building Safety

Property at particular risk of floods and/or erosion: No
Has flood defences: No
Has planning permission or proposals for development that will affect property: No

Rights and Restrictions

Is listed building: No
Is conservation area: Yes
Has public right of way: No

Get a free valuation that fits your needs.

Whether you’d like an instant online estimate or an expert visit to discuss your home in detail, our team will give you clear, honest advice and help you plan your next move.

Free Expert Home Visit Valuation Get an Instant Online Valuation

These results are for a repayment mortgage and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

Stamp Duty Land Tax rates are based on UK government guidelines and are subject to change. This calculator is for guidance only. Please consult a qualified professional for advice on your specific circumstances.