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.’
Peter, a fellow of the Insolvency Practitioners Association and the Association of Business Recovery Professionals, joined the Nottingham office of Begbies Traynor in 2002 as a partner. He was previously a senior manager with KPMG and also worked at Spicer & Pegler and Deloitte Haskins Sells.