1-, 2- & 3-Bed Apartments In Sympathetic Mill Conversion
Nottingham, Nottinghamshire
£103,417 (prices from)

Net
Gross
Finance

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Convenient, cultured & cost effective

We have the exclusive rights to sell a mix of 2- & 3-bed apartments in a new stunning mill conversion in a fantastic location in Nottingham. The developer — a conversion specialist — is retaining many of the existing features such as the exposed brickwork in the apartments and the staircase in the turret.

The Lace Mills development consists of 31 high quality, modern apartments, laid out over four floors within a former Guy Birkin lace factory.

Catering for all markets, the scheme offers a versatile selection of apartment types such as the lower ground units which incorporate large open plan living spaces and feature exposed, original brickwork.

Duplexes with living spaces at ground level include large spaces accompanied by impressive views and feature timber beams.

Further duplex apartments have been crafted into the old draughtsmen studios. These are the most spacious in the development, with mezzanine bedrooms located between feature timber trusses with far reaching views across the city of Nottingham.

From the timber beams that stand watch over the upper-floor apartments, to the bare brickwork that exposes the buildings raw past; original features are threaded throughout the site, paying homage to its previous life as an original Victorian Guy Birkin lace factory.

Each apartment will feature laminate and tiled flooring, a high quality kitchen with integrated brand name oven, hob & extractor, freestanding fridge freezer and a washing machine and a beautiful bathroom suite with heated towel rails.


Location

 

Located just a short walk from the nearest tram and bus stop, residents have access to Nottingham city centre almost on the door step. No matter if youre a first time buyer or seasoned investor, this outstanding development offers something for everyone.

For those eyeing up culture, Nottingham boasts some of the most unique architecture in Britain, from early 19th century art-deco to Gothic churches and Victorian lace factories.

Residents looking for vibrant city life need look no further. The city is home to two major universities leading to an ever-growing influx of career opportunities and infrastructure development, including the excellent tram network and regeneration of the Boots Island site.

Boots Island will be a creative hive for office, retail and leisure facilities. The £500m project is expected to generate hundreds of new jobs in the city and continue the investments that are driving Nottingham into the property lime light.

Nottingham is starting to see incredible growth in its residential property market, buoyed by its world class universities and large number of employers (it’s home to the second largest hospital in the UK). The city is home to more under thirties than anywhere else in the UK other than Manchester, and has seen house price growth of 6.9% in the last 12 months — making it the 3rd best performing major UK city.

This is a great opportunity to purchase in a high growth area, with the developer also paying 5% interest on deposits during the anticipated 18-month build phase.


Worked Example

Apartment 14: 2-bed apartment
Assetz Price £118,995
Assetz Fee £3000 + VAT
Deposit £29,750
Rental Income £795 pcm
Mortgage rate & LTV 2.99% at 75% LTV*
Mortgage Costs £205 pcm
Service Charge & Ground Rent £200 & £768
Gross Yield 8.02%
Net Yield 7.2%
Return on Investment 18.3%
Cash Positive £510
* Finance subject to status and lender's criteria


Key Features

Sympathetic mill conversion
Retains many existing features
A short walk from the nearest tram and bus stops
Ideal for first time and seasoned investors alike
Nottingham 2nd behind Manchester for the most under 30s
6.9% house price growth in the last 12 months
3rd best performing UK city for house price growth
5% interest paid on deposits throughout the build phase
Nottingham seeing incredible investment
Finance available, subject to status and lender's criteria


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Risk Warning and Disclaimer:

The price of property can go down as well as up. Historic performance should not be taken as a guarantee of future performance. Geared property investment with mortgages can increase risk of losing money as well as increasing the possible gains. Mortgage products referred to in the website can be withdrawn by the lender or have rates or other terms changed without notice and reference to any products does not imply they are certain to be available in the future. Mortgages referred to may also have certain applicant restrictions and are for indicative purposes only although reasonable endeavours have been used to ensure that they are available at the time of publication and are applicable to a significant number of our purchasers. This site is for information purposes only and nothing on this site should be taken as definitive investment advice for your particular situation without you seeking additional guidance directly from ourselves or from other finance and property professionals. Property particulars on this site do not form part of an offer or contract. The developer and Assetz Property Ltd, whilst endeavouring to ensure complete accuracy in these property particulars, cannot accept liability for any errors. Valuations of property or indicated rents achievable are either estimated or derived from valuations and/or comparables and can change and should not be relied upon without your own additional valuation and research, but we have carried out reasonable endeavours to achieve accurate indications for these figures. All descriptions, dimensions, areas, reference to condition and, if necessary, permissions for use and occupation and their details, are given in good faith as provided by the developer and are believed to be correct. However, these are subject to change, especially, but not wholly, relating to any property that is off-plan or not yet complete. Any intending purchaser should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to their accuracy. The onus is on each individual investor to undertake their own due diligence, enquiries and inspections. Where shown, net yields are calculated as rental income less expected service charges less expected ground rent as a percentage of the property price. No void periods, optional letting agent costs, repairs or other costs are deducted. Our standard Terms and Conditions of Sale will apply. E. & O. E.