Fully Let Residential Investment, Odlin Court, Burton Road, Carlton, Nottingham, NG4 3DQ

The property comprises a modern detached, purpose built three storey residential apartment block of brick construction with a steel king span insulated roof. Internally the building contains ten 1 bedroom apartments, one 2 bedroom apartment and one 3 bedroom apartment located on the top floor. At the ground floor level there is a secure gated car park providing 12 designated parking spaces.

Location

Carlton lies approximately 2 miles east of Nottingham city centre connected via Carlton Hill (B686) which provides easy access to the Colwick Loop Road (A612) which in turn links to the A46 and A52. The property is served by a dedicated bus route from Nottingham city centre while Carlton Railway Station, which is less than 500 metres from the property, provides direct links to Nottingham, Derby and Leicester.

Accommodation

Each apartment has been finished to a high specification benefitting from carpeting throughout, spot lights, fully fitted kitchen (including all appliances), and bathroom suites are also completed to a very high standard. Each individual apartment benefits from gas fired central heating, separate boiler room along with all mains services connected. A full video intercom door entry system connects from each apartment to the main resident entrance. The two top floor apartments benefit from front and rear roof terraces directly accessed from the apartments.

Terms

Tenure
Freehold subject to the 12 existing Assured Shorthold Tenancies.

Tenancies
Three 1 bedroom apartments are let at £460 per calendar month each to Gedling Borough Council.
Six further 1 bedroom apartments are let at £475 per calendar month each, and one 1 bedroom apartment is let at £465 per calendar month.
The 2 bedroom apartment is let at £650 per calendar month and the 3 bedroom apartment is currently let at £750 per calendar month.
A detailed Schedule of Tenancies is available upon request.

Specification

• Offers are invited in the region of £900,000
• Initial Yield 7.47% (allowing for purchasers costs of 5.8%)
• Current rental income is £73,140 per annum
• 12 self contained 1, 2 and 3 bedroom apartments with secure car parking
• 3 of the apartments are currently let to Gedling Borough Council
• Popular suburb to the east of Nottingham