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£1,300,000
Bedrooms
Bathrooms
Liberty Gate are excited to be able to offer this incredible rare Freehold opportunity to the market.
The Cedars is an attractive Stucco style Mansion House converted to Seven grand apartments on the border of the highly regarded Woodthorpe and Sherwood.
The current layout offers Seven apartments made up of Six Two Bedroom homes and a Single One Bedroom flat.
The building would benefit some improvement in parts and offers scope to further increase the properties return via further development.
Viewing is a must to be able to appreciate the sale of the property on offer.
Introduction - Welcome to The Cedars, A beautiful history filled Mansion converted into Seven spacious apartments.
The building in its current form is divided into Seven apartments but could generate further income via a course of improvements and further development. The building is well positioned in on the border of the highly regarded Woodthorpe and Sherwood.
The grounds include parking for around 13 vehicles as well as green space for the residents.
General Overview - The seven apartments in the building are all large in proportion with some reaching over 1400 square ft.
The ceiling heights throughout the building are grand as its facade would indicate, as well as plethora of its original features being retained.
The apartments have been occupied in the following forms;
1 - Owner occupied Vacant on Completion
2 - Tenanted
3 - Owner Occupied Vacant on Completion
4 - Vacant Partially renovated
5 - Tenanted
6 - Tenanted
8 - Owner Occupied Vacant on Completion
Further to the living accommodation the property has a system of basement rooms currently allocated as storage for each of the apartments, moving then down the the lower basement which is a fully formed sandstone cave most likely used in history as a cold store in the manors past lives.
Some of the notable features throughout the extensive property are;
Stunning bay windows, at least four of the apartments benefit from beautiful bays with sash windows flooding the spaces with natural light.
Original stone staircase, Original to its form as a grand home is the stone staircase decoratively finished with a hand carved balustrade and newel post.
Marble fireplaces, some fireplaces of note include the beautiful marble pieces found in the main communal entrance and again in apartment four but others feature throughout the property.
Stain Glass window, prominently positioned over the main staircase is a stunning full height arched stain glass window sitting like a jewel in the main entrance hall.
History - The Grade II listed property has a varied and long history having been originally built as a grand Mansion House in 1830.
The property was then converted into a hospital when donated in 1897 by Sir Charles Seely as part of the Nottinghamshire General Hospital.
At the formation of the National Health Service in 1948 and the take over of the hospital by the Sheffield Regional Board, the hospital at the Cedars comprised 114 beds.
The property then in the 1980s was converted back to residential in its current form as as the Seven Apartments, and has been such since having gained its listed status in 1982.
Location - The property is positioned on the border of Two extremely popular areas of Nottingham being perched at the edge of both Woodthorpe and Sherwood.
Having direct links via the A60 (Mansfield Road) into the city centre, as well as the A6514 (Valley Road) Loop makes the property ideally located for people commuting or working in the city.
The residential side of its position means there is a range of amenities on the doorstep with Sherwood High street, Mapperley Top and Arnold all within short reach offering a range of independent and larger scale shops, restaurants, cafes and nightlife at your fingertips. A short bus ride or drive then leads into Nottingham with everything the vibrant city has to offer.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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