A portfolio of seven flats in one of Nottingham’s most iconic apartment buildings is expected to attract by-to-let investors when it goes under the hammer at Bond Wolfe’s next auction.
The seven residences are in the Hicking Building on Queens Road and will have a guide price of £700,000-plus in the live-streamed auction on Thursday this week.
Hicking Building was constructed in 1873 as part of a large complex of lace warehouses, and the historic property was redeveloped as more than 320 apartments in 2005.
Ian Tudor, commercial auction director at Bond Wolfe, says: “This is an excellent opportunity to secure the leasehold of seven apartments within a high-quality redevelopment of an iconic, historic city centre building in Nottingham. We regularly attract property investors from across the UK and overseas to our live-streamed auctions and I predict highly competitive bidding for these properties.”
The portfolio comprises three one-bedroomed flats and four two-bedroomed flats, along with seven car parking spaces, which currently generate gross rental income of £73,140 per year.
Tudor continues: “The Hicking Building is one of the largest and best-known residential developments in Nottingham. It comprises of four blocks with a range of studio, one and two-bedroomed apartments and lies in a convenient location just opposite Nottingham railway station, just a few minutes’ walk from West Bridgford and the city centre.
“The apartments are complete with modern fixtures and fittings throughout and the sale also includes seven car parking spaces.”
The apartments are among 209 lots that are appearing in the auction, which will start at 8.30am on Thursday.
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