A majority let apartment block investment close to Nottingham City Centre has been sold to a private investor for in excess of the guide of £650,000.
Shakir Court off Nottingham Road in Basford comprises 11, two bedroom apartments each extending to 440 sq ft. It is estimated that the property will generate rental income of approximately £65,500 per annum when fully let.
The sale was completed by the Leeds office of Chartered Surveyors Eddisons, acting on behalf of the LPA Receivers. John Padgett, Head of Agency at the firm says: ‘This was an attractive residential investment opportunity located in a popular mixed use area.
‘We received significant market interest which demonstrates the appetite for investments of this quality and are pleased with the price achieved for our client which surpassed the original guide.’
John joined Eddisons in 1980 and as Head of Function for Agency, he manages business activities throughout the North of England. He is actively involved in the regional markets with owner-occupiers and property companies and developers. His development of close links to local communities over a sustained period has provided and maintained a constant source of instructions from professionals and business alike.
Significant project experience over three decades of service includes sales of 400,000 sq ft of industrial units on the Euroway Estate in Bradford to a number of logistics and manufacturing firms in a £13.5m deal. Further sales highlights include a 250,000 sq ft mill complex on behalf of receivers, and co-ordination for a recent project involving £10m of student block investment disposals.
John’s approachable and willing nature also ensures highly efficient client liaison and he acts on behalf of some of Eddisons’ major clients, including PPG Ltd, ISG plc, major banks and IPs to name just a few.
A passionate life-long supporter of his beloved Bradford City Football Club, John is happy to provide the benefit of his extensive knowledge, experience and contacts when discussing all things Valley Parade.