HEB Property Consultants says ..

Property Oracle says ..

This property, located at 48 Forest Road West in Nottingham’s Arboretum area, presents itself as a substantial residential development or investment opportunity. Currently listed at £750,000, the property comprises a block of apartments undergoing extensive refurbishment. The provided images reveal a property stripped back to its structural elements; the renovation is at an early stage. 

The location is relatively convenient, with nearby schools and Nottingham city centre within reasonable proximity. However, information on the specifics of each apartment unit (number of bedrooms and bathrooms per unit) and square footage is absent. The absence of detailed information on the individual units impacts a full assessment of the property’s value. There is little to no land in addition to the property itself.

The list price of £750,000, requires further investigation to evaluate its reasonableness. While the potential for rental income upon completion is an attractive prospect, the substantial costs associated with finishing the refurbishment must be considered. A comprehensive cost analysis of completing the work would provide a clearer picture of the property’s potential profitability and whether the listed price represents good value. The lack of details and information on the actual number of beds and bath per apartment makes the price hard to justify and therefore, the price has been graded lower than otherwise possible. The information in the listing would need to provide more information to be considered a reasonable grade.

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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