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JOHN PYE BRINGS RAFT OF NOTTINGHAMSHIRE INVESTMENT OPPORTUNITIES TO MARKET

Nottingham-based online auction experts, John Pye Property, brought nearly 400 properties to market nationally last year and is currently enjoying a busy start to 2018.

Its home patch of Nottingham, according to analysis conducted by Private Finance, is now officially a hotspot for investors, with buy-to-let purchasers achieving rental yields of 6.2 per cent once mortgage costs are accounted for.

Richard Reed MRICS, head of property at John Pye Property, said:

“This positive picture is reflected in the type and quality of the exciting investment opportunities we are auctioning online in February.”

Among the Nottingham properties which is expected to generate a lot of interest is a substantial mixed use scheme comprising a well-established restaurant with seven self-contained flats in Basford.

Located on prominent Radford Road, the three-storey premises is on the NET tram route, and is just a 10 minute tram ride from Nottingham city centre. It is also within half a mile of the A610 for easy access to the M1 and within 30 minutes’ drive of Toton, the designated HS2 interchange site.

Additionally, the owner of the southern Indian restaurant has recently agreed a 15-year lease with no breaks.

The property, which is on the market for between £550,000 to £575,000 plus, is currently generating annual income of £58,286, representing a gross yield of 10.6% based on the lower guide price.

John Pye Property is also offering for sale a ready-made investment in popular West Bridgford, an area of high rental demand.

On the market at a guide price of £99,000, this two-bedroom second floor flat in Loughborough Road, is currently let for £525 pcm, representing a gross yield of 6.36%.

Comprising two double bedrooms, living room, separate kitchen and bathroom, this purpose-built development is in one of Nottingham’s most sought after areas. Just 1.5 miles from Nottingham city centre, the town of West Bridgford has excellent commuter links and local amenities. Elsewhere in the county, John Pye has for offer a roadside retail development opportunity off the A1 in Elkesley.

The existing building was previously used as an Indian restaurant and has living space to the upper floors. The ground floor accommodation has A3 planning consent and on the upper floors there is a two-bedroom self-contained flat. The site also has parking for 37 vehicles.

On the market for £325,000 plus, the 5,000 sq ft property previously generated income of £35,000 per annum, providing a potential yield of 11 per cent based on the guide price.

Elkesley is six miles south of Retford and eight miles away from Worksop. It is ideally situated for passing trade just off the northbound carriageway of the busy A1 between Markham Moor and Upper Morton.

Richard added: “These three opportunities are all quite different but have great rental income potential. They offer a range of options for people looking to invest in Nottinghamshire, and we expect they will be well received by investors.”

Online auctions are fast becoming a conventional way to buy and sell properties and more people are using the method to boost their property portfolio.

“Our unique expertise across online auctions means the way we sell property online is a real unique selling point for vendors and is distinctive across the industry,” Richard added.

“The John Pye online property auction has grown significantly since its inception and with an online auction being held monthly there is constantly new property stock being offered to the market.”

John Pye Property regularly features properties from across the UK including residential, commercial and buy-to-let properties. Its latest monthly online property auction will go live on Wednesday 21 February and Thursday 22 February 2018.

Visit www.johnpye.co.uk/property-auctions to bid or phone 0115 970 6060 for more information. Viewings are available by appointment.

 


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