Robert Ellis says ..

Property Oracle says ..

This property located on Broomhill Road, Basford, Nottingham, is currently listed for £135,000. It’s described as a freehold commercial property with potential for conversion into a four-bedroom house or apartments. The property’s current state is crucial to consider. The provided images show the interior is largely unfinished, requiring extensive renovation. Walls need plastering, flooring needs replacing in several areas, and some rooms appear to be quite bare. There is a small yard that could benefit from landscaping. The property benefits from being close to transport links and several schools, improving its potential. However, the required work and the fact that it’s currently a commercial property make it a high-risk, high-reward investment. A prospective buyer should factor in substantial renovation costs before making an offer. The lack of information on square footage for comparable properties makes a precise value comparison challenging. Buyers should have a structural survey completed, and thorough research on comparable property sales in the local area is recommended before purchasing. The property is well located, however, the significant renovation costs make it an unconventional investment. The property’s current value is greatly dependent on the cost of conversion and the final condition, with the current condition rating it lower.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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