Robert Ellis says ..

Property Oracle says ..

This property, located on Queens Road in Beeston, Nottingham, is a substantial building, formerly operating as a hotel. The listing highlights its potential for redevelopment, a factor that significantly impacts its value. The property features 15 bedrooms and 15 bathrooms, suggesting a large scale operation, possibly suitable for conversion into multiple residential units, a care home, or a similar use.

The existing structure appears to be in fair condition, though some interior photos showcase dated decor and finishes. A thorough survey would be necessary to assess any structural issues or potential repair costs, and if it does have the development potential that the listing promotes, then this must be taken into account and the costs factored in. The property also appears to have a relatively small garden/outside space, and what space does exist appears somewhat unkempt and could benefit from landscaping. There is a limited amount of parking on site, but again this would be ideal for a potential buyer looking to redevelop the property.

The location offers convenience with its proximity to Beeston Railway Station and several primary schools. However, the immediate surroundings consist of a mix of commercial and residential buildings, possibly impacting its desirability for purely residential use. The list price of £725,000 will require a careful assessment of all potential costs and market analysis regarding redevelopment potential of this scale. It’s crucial for potential buyers to conduct thorough due diligence to determine the property’s true value and the feasibility of their intended development plans. The lack of accurate plot size data raises further concern and should be investigated fully.

Overall, this is a substantial property with potential; however, a comprehensive valuation and assessment of the building’s structural integrity and planning permissions are essential. The successful development of this property will depend not only on a good purchase price, but also a clear understanding of all associated planning and refurbishment cost implications.

Therefore, we give this property 6 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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