Clock Tower Apartments, Rock Valley, Mansfield, Nottinghamshire, NG18 2HT

CLOCK TOWER APARTMENTS

ROCK VALLEY, MANSFIELD

50-APARTMENT FORWARD PURCHASE AND INVESTMENT OPPORTUNITY

An opportunity to acquire the proposed Clock Tower Apartments, a substantial 50-apartment residential development forming part of the established Rock Valley scheme in Mansfield.

Designed around the site’s distinctive retained Clock Tower, the proposed development will provide a mix of 38 one-bedroom and 12 two-bedroom self-contained apartments, arranged across the ground and four upper floors.

The current proposals include passenger-lift access, communal circulation areas, external amenity space, cycle storage, landscaping and 42 proposed car-parking spaces.

At the £8,000,000 asking price, the acquisition equates to approximately £160,000 per apartment. Based upon the current indicative furnished rental appraisal, the development is projected to generate approximately £571,080 per annum, representing an indicative gross yield of approximately 7.14%.

The seller is prepared to consider a range of acquisition structures with suitably qualified purchasers, including a forward purchase, potential forward funding or acquisition of the completed development on an agreed turnkey basis.

INVESTMENT AT A GLANCE

Indicative acquisition price: Offers over £8,000,000
Number of apartments: 50
One-bedroom apartments: 38
Two-bedroom apartments: 12
Average acquisition price: Approximately £160,000 per apartment
Proposed parking: 42 spaces
Indicative furnished ERV: Approximately £571,080 per annum
Indicative gross monthly rent: Approximately £47,590
Indicative gross yield: Approximately 7.14%
Tenure: Freehold
Target completion: January 2029, subject to planning and the agreed construction programme

PROPOSED ACCOMMODATION

The revised residential mix comprises:

38 × One-Bedroom Apartments
12 × Two-Bedroom Apartments

Total: 50 apartments

The mixture of one- and two-bedroom accommodation is intended to appeal to a broad section of the local rental market, including single professionals, couples, key workers and smaller households.

Whole-block ownership also provides an incoming purchaser with potential operational efficiencies across lettings, management, maintenance, insurance, compliance and long-term asset strategy.

INDICATIVE RENTAL APPRAISAL

The current working rental appraisal assumes the apartments will be offered as furnished accommodation at the anticipated completion date.

One-Bedroom Apartments

38 apartments
Indicative rent: Approximately £905 pcm per apartment
Combined monthly rent: Approximately £34,390
Combined annual rent: Approximately £412,680

Two-Bedroom Apartments

12 apartments
Indicative rent: Approximately £1,100 pcm per apartment
Combined monthly rent: Approximately £13,200
Combined annual rent: Approximately £158,400

Combined Development

Indicative gross monthly rental income: Approximately £47,590
Indicative gross annual rental income: Approximately £571,080

Against an acquisition price of £8,000,000, this represents an indicative gross yield of approximately 7.14%.

Allowing for an illustrative operating-cost provision of 20% would produce indicative income before finance and taxation of approximately £456,864 per annum, equivalent to an indicative net yield of approximately 5.71%.

All rental and yield information is provided for investment-appraisal purposes only. Prospective purchasers must undertake their own rental, valuation, financial and operational due diligence.

DEVELOPMENT AND DESIGN

Clock Tower Apartments has been designed as a distinctive contemporary residential development incorporating the site’s retained Clock Tower as a prominent architectural feature.

The current proposals include:

• Five residential levels
• 50 self-contained apartments
• Passenger-lift provision
• Contemporary facing-brick elevations
• Aluminium window systems
• Balustraded external areas
• Communal circulation space
• 42 proposed parking spaces
• Dedicated cycle storage
• External landscaping
• Resident amenity and seating areas
• Indicative rooftop solar-panel provision
• Retention and integration of the landmark Clock Tower

The combination of contemporary residential accommodation and the original Clock Tower will give the development a recognisable identity, distinguishing it from more conventional apartment schemes.

PURCHASE STRUCTURES

The seller is open to discussions with suitably qualified purchasers regarding the preferred acquisition structure.

Potential structures include:

FORWARD PURCHASE

An agreement to acquire the completed development at an agreed price, allowing the purchaser to secure the investment ahead of practical completion.

FORWARD FUNDING

Potential purchaser involvement during the development programme, subject to an agreed funding structure, construction programme, specification and contractual protections.

COMPLETED TURNKEY ACQUISITION

Acquisition following practical completion, with the development delivered in accordance with an agreed specification.

Early engagement may allow an incoming purchaser to influence the internal specification, furniture package, operational requirements and long-term management strategy.

INVESTMENT RATIONALE

Clock Tower Apartments provides an opportunity to acquire 50 residential units within a single freehold development, avoiding the time and transaction costs involved in assembling a comparable portfolio individually.

The opportunity may be suitable for:

• Private rented sector investors
• Build-to-rent operators
• Family offices
• Residential investment companies
• Regional and national portfolio landlords
• Institutional residential investors
• Housing providers
• Affordable-housing investors
• Managed residential platforms

Whole-block ownership may provide efficiencies across:

• Lettings and tenant mobilisation
• Property and asset management
• Repairs and maintenance
• Insurance
• Regulatory compliance
• Communal utilities
• Service-charge administration
• Long-term investment strategy

LOCATION

Clock Tower Apartments forms part of the wider Rock Valley development in Mansfield, Nottinghamshire.

The site provides convenient access to Mansfield town centre, shops, public transport, local amenities and major employment locations.

Mansfield railway station is approximately 0.4 miles from the development, offering services towards Nottingham and other regional destinations. This accessibility supports the scheme’s potential as professionally managed rental accommodation.

Mansfield also occupies a strategic East Midlands location with access to Nottingham, Derby, Sheffield and the wider M1 corridor.

FURTHER INFORMATION AND DATA ROOM

A comprehensive information pack can be made available to suitably qualified prospective purchasers.

Information available, where applicable, may include:

• Architectural plans
• Proposed site layout
• Apartment accommodation schedule
• Proposed elevations
• CGI imagery
• Planning information
• Development specification
• Construction programme
• Rental appraisal and comparable evidence
• Proposed furniture package
• Parking and access information
• Warranty information
• EPC and sustainability strategy
• Service-charge and management assumptions
• Legal and title information
• Proposed transaction structure

Interested parties are invited to contact the selling agent to request further information, obtain access to the investment data room and discuss the available acquisition structures.

IMPORTANT INFORMATION

The development remains a proposed scheme. The information provided is based upon the current architectural, financial and development proposals.

CGI images, plans and illustrations are indicative and are provided to demonstrate the proposed appearance and configuration of the completed development.

All designs, areas, apartment numbers, specifications, rents, yields, parking arrangements, purchase structures and completion dates remain subject to planning, final design, construction, valuation, legal due diligence and contract.

Prospective purchasers should rely upon their own professional, legal, financial, technical, planning, rental and valuation advice before entering into any transaction.