Rex Gooding says ..

Property Oracle says ..

The property is a two-bedroom terraced house located on Collygate Road in Nottingham’s Meadows area. The list price is £135,000. The property requires significant renovation. The images show considerable wear and tear throughout, including damaged flooring, walls needing repainting, and outdated fixtures and fittings. The kitchen and bathroom are particularly in need of updating. The garden is present but overgrown and unkempt. The location is reasonably convenient with nearby schools (Greenfields Community School and Welbeck Primary School are within a short distance), and Nottingham railway station is within reach. However, the area’s average house price (£250,891) is significantly higher than the list price of this property. This disparity is likely due to the property’s condition. The average price per square foot in the area is £276.00, while this property, at 785.77 sqft and £135,000, works out to approximately £171.74 per sqft. This suggests the list price is significantly lower than the average for the area, potentially reflecting its poor condition and the substantial renovation costs required. Considering the property’s condition, the relatively small plot size, and the need for substantial renovation, the list price of £135,000 may appear reasonable for a buyer willing to undertake a complete refurbishment. However, the substantial work required should be factored into any potential purchase decision.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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