Yesterday was a fantastic day for the team at World of Auctions as we conducted apartment viewings in Nottingham city centre. We had the pleasure of meeting with one of our long-standing investor clients, Dr. Tony, to conduct viewings on his behalf at New Alexandra Court on Woodborough Road. The viewings were a great success, and we are excited about the potential negotiations and pre-auction offers in the coming days.
Apartment Viewings at New Alexandra Court
Apartment 34: A Prime Investment Opportunity
Apartment 34 at The New Alexandra Court, located on Woodborough Road, Nottingham, is an exceptional one-bedroom apartment currently up for auction. This second-floor apartment is priced at a guide price of £45,000, making it a fantastic investment opportunity. The apartment comprises a hall, lounge, kitchen, bedroom, and bathroom, providing a comfortable living space or a rental property. The leasehold tenure offers security with a 999-year lease term starting from June 1, 2005.
The location of New Alexandra Court is highly advantageous, being close to Nottingham City Centre and offering easy access to a variety of shops, amenities, and transport links. The bustling city centre, with its shopping centres, restaurants, bars, and cultural attractions like Nottingham Castle and the Nottingham Playhouse, is just a short distance away.
Additionally, the area is well-connected by major roads such as the A52, A46, and M1 motorway, facilitating convenient travel in and out of the city. For outdoor enthusiasts, there are numerous parks and green spaces nearby, offering opportunities for relaxation and recreation.
Apartment 36: Another Attractive Option
Apartment 36 at The New Alexandra Court is another one-bedroom vacant apartment with a guide price of £50,000+. This long leasehold second-floor apartment is well-presented and offers unrivalled views over Nottingham City. The apartment comprises an entrance lobby, family shower room, double bedroom, open-plan lounge/kitchen/diner, fully fitted kitchen, and a telephone entry system. It also includes a designated parking space and is surrounded by landscaped grounds with full CCTV security.
The apartment block is highly desirable and well-managed, with key fob access to the car park and main block entrance, an attractive entrance lobby, and lift access. The location is ideal, being a short distance from Nottingham city centre and on a main bus route into the city.
Productive Discussions at Naughty but Nice Café
After the viewings, we joined Dr. Tony at Naughty but Nice café on 349 Mansfield Road, Nottingham.
Were to find Naughty but nice Café
Over a cup of tea and a slice of the most beautiful carrot cake, we took the time to discuss and update each other on our thoughts regarding auction trends and the new and proposed legislation affecting apartment investors and landlords.
Key Trends and Legislation
Several key trends and legislative changes are expected to impact the apartment investment market in 2024. The long-awaited fall in interest rates is beginning to have an effect on investor sentiment and ability to buy, which in turn is highly likely to increase the profitability of rental properties.
The demand for rentals is expected to remain high, putting power back in the hands of renters. Additionally, the Gen-Z population is looking to move to more suburban areas, and there is a growing desire for flexible leases that allow renters to move into a rental space for less than a year.
AI technology is also transforming the industry by automating tasks such as tenant screening, rent collection, and scheduling, which helps save time for landlords. Furthermore, new legislation is expected to impact tax credits, depreciation amounts, and reporting requirements, which will be crucial for investors to consider.
Conclusion
All in all, it was a fantastically productive day at World of Auctions. The viewings at New Alexandra Court were successful, and the discussions with Dr. Tony provided valuable insights into the current and future trends in the apartment investment market. We look forward to conducting negotiations and considering pre-auction offers in the coming days, continuing our tradition of building a full and complete understanding of our buyers’ and sellers’ positions.
If you would like to join us for a coffee and cake update any time. just give us a call or send us a WhatsApp message!!
Stay tuned for more updates from World of Auctions as we navigate the exciting world of property investments!
