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.’
Steve has carried out insolvency agency advice since 1983 and was a Partner in a provincial surveying practice from 1990.
Steve joined Begbies Traynor in 2006 to lead a team providing asset valuations, appraisals and sales of business assets within insolvency or recovery instructions scenarious. He provides advice to support Insolvency Practitioners in formulating marketing and disposal strategies, negotiation of sales by private treaty and organises public auctions or tenders. Steve manages external formal valuations if necessary, having first provided all preparatory work and appraisals, also seeking to resolve occupational issues and third party claims.