Nottingham

[James S]

Hi all,

 

I was just wondering if anyone on here has invested in Nottingham?

 

I'm based in Brighton and I'm looking to start building a portfolio up north from me and have settled with Nottingham. I'm going up there next weekend (28th) to have a look around and touch base with a few agents to view properties. 

 

Has anyone had any experience investing in Notts and hold any advice on where to go and where to avoid?

 

I'm looking to build up a portfolio in a relatively short amount of time therefore these properties will be priced between £70-£90k, looking at flats and terraced houses to begin with. There seems to be a good amount on the market for that price but I obviously need it to rent all day, which is why I'm here I guess, just to get a second opinion other than the agents.

 

NG7 postcode is my first choice currently and then anything I can find in the city centre (which isn't a lot for that price range).

 

Any advice would be much appreciated!

 

Also, feel free to touch base with me if you're interested in a JV, as I'm coming up it could be a good opportunity to meet?

 

Kind regards,

 

James

 

 

[Rob D]

Hi James,

 

I studied in Nottingham and have some property there. A fine part of the world - underrated in my opinion!

 

Just had a quick look on Rightmove (it doesn't take much) for the city centre up to £100k. Most of the stuff under £90k looks pretty questionable, but there are some flats on for £100k that look like they'd stack quite nicely. So just get 10% off the asking price and you've hit your budget

[Jacob Fisher]

Hello James & Rob

I was in a similar situation to yourself a couple years ago and have bought a couple properties there since. NG7 is good for the city and as far as I'm aware is mostly professionals that live there.

The flats at the pavilion are very popular - there's one currently for sale on right move, and the flats on player street seem to look good on paper.

Rob what is it that That's questionable about the cheaper properties? I'm considering a 70k flat that looks great on the spread sheet, but my experience in this field is very limited.

Jacob

[Carl Bridge]

Hi James

 

Firstly, I only joined a few weeks ago, so I understand if you've already moved on and/or made some purchases in Nottingham since posting over a year ago. I agree with what's been said above. My only word of caution, having lived in NG7 and in Nottingham city centre, is that the NG7 postcode is an incredible mish-mash of properties and tenants. 

 

This postcode includes The Park (very affluent semi-private estate on the edge of the city centre), Hyson Green (an area with some great yield opportunities but some poor quality rental stock too) and the area around Lenton and the University and QMC hospital with again a wide variety of properties aimed at the student and healthcare professionals market. Some are good quality and well-cared for, some are not and often they can be next door to each other!

 

So it is vital to know the specific area well when choosing to purchase a property...perhaps more so in NG7 than in many other places around the country (and I've lived and bought property all around the UK from Nottingham southwards, including Brighton). I'm more than happy to be a sounding board but, equally, I know there's a monthly meet for Nottingham Property Hub members and so it may be worth you coming up to one of those to make some contacts. I've not yet been but hope to go to my first one in September.

 

Thanks

Carl