SUCCESS STORY! Investor's complex purchase is made possible with the help of Cavendish 🥇
#CAVENDISHEXPERTS in Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
When a property investor living in Spain decided to purchase a renovated Nottingham property, it was always going to be different to your usual property transaction.
The buyer did not realise just how many hurdles he would have to cross in the world of property investing...
It was a beautiful recently converted freehold block of 4 apartments located in Nottingham's Park Estate: one of the most remarkable residential estates in the UK boasting one of the largest gas street lighting systems in Europe, making the estate particularly atmospheric at night. The skyline is dominated by Nottingham Castle and some magnificent Victorian architecture. Top restaurants such as World Service and Hart's are well within walking distance.
This was a highly desirable buy, but also highly complicated for more reasons than one...
Firstly the fact that the buyer lived abroad made this harder than usual with the fact that communication was mainly done through email and WhatsApp, although the buyer had already bought property in Spain, buying in the UK was new to him and brought along challenges of its own with the UK regulations.
“It was especially challenging for me: a new market and regulations”.
It was also in a conservation area, which can hold its own issues as you will be restricted on what you can and cannot do to the property, potentially facing heavy fines for breaking the rules.
As well as this, he was new to all the UK Buy-to-Let regulations such as Tax, Licensing, PAT tests, and EICR certificates, as well as facing delays and complications due to the fact it was a substantially large period property, a freehold block of 4 apartments, not your everyday purchase!
However, the experts at Cavendish Residential were there to guide and support him from the beginning to help the transaction run as smoothly as it possibly could despite the hurdles being thrown at the buyer.
“They have supported me in the acquisition of a property in Nottingham. Although it should have been a straightforward process, the transaction became very complex, even highly complex, due to some external circumstances. Nevertheless, they have been there all the time, supporting from beginning to end.”
Finally when the sale had completed, the buyer was so happy and relieved that he asked Cavendish Residential to manage the property for him.
“I would like to thank Sam and Georgina for being he best property agents I have met in 15 years of real estate activities, It was especially challenging for me: a new market and regulations….but I never felt alone in all the process thanks to them. Moreover, They provided excellent advice and recommendation."
Amazing kind words from a valued buyer and now Landlord.
Cavendish Residential took over everything and dealt with all the regulations and legalities of property management, taking the stress away from the buyer and after 6 months of managing the property they had collected £24,870 in rent for him, building a great long lasting relationship along the way.
“It was rare to have such a responsive, comprehensive and flexible buyer given all that was thrown at you along the way and it was, and will continue to be, an absolute pleasure to work with you looking after your rental property here in Nottingham” - Sam Barker, Associate Director at Cavendish Residential.
This just goes to show that when you have an organised, experienced and skilled team who love what they do, working together with the client, all sorts of hurdles can be overcome!
For more information on sourcing a property investment in Nottingham, please email Emma Travers (emma.travers@cavendishproperty.co.uk) for the latest opportunities and guidance.
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#CAVENDISHEXPERTS in Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
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