THE GLASSWORKS
NOTTINGHAM

The Glassworks Nottingham is a collection of 27 high specification, luxury loft style apartments within a Victorian-era factory right in the centre of Nottingham. With an enviable location 2 minutes’ walk from Nottingham Central Station, 5 mins walk from the City Centre and a short walking distance to all major sports grounds, cultural attractions, business district, and universities, this is a unique opportunity to purchase a high-specification apartment in a highly desirable area for well under the UK national average flat price and an area in demand for young professional tenants as well as higher education participants. Investors can invest from as little as £26,000 to secure an apartment here with the balance due on completion scheduled for October this year.

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The Glassworks, Nottingham
The Glassworks, Nottingham
The Glassworks, Nottingham
The Glassworks, Nottingham
The Glassworks, Nottingham

Development Facts

DEVELOPMENT NAME

The Glassworks

DEVELOPMENT ADDRESS

1 Crocus St, Nottingham NG2 3DE

DEVELOPER

Landstar Ltd / AJJ Estates

MANAGEMENT COMPANY

Opulent Lettings and Management Ltd

RENTAL INCOME

Up to 7%

HEIGHT

3 Storeys

COMPLETION

Q4 2023

TENURE

Share of Freehold

GROUND RENT

£0 per annum

SERVICE CHARGE

£2.31 per sqft

TRANSPORT

2 minutes from Nottingham Train Station and directly outside the project there is a tram stop 

NUMBER OF UNITS

27 Apartments

PAYMENT PLAN

£2,000 reservation fee

20% on exchange
(minus reservation fee)

80% October 2023

FURNISHING

Furniture Pack Available

NEARBY FACILITIES

  • 2-minute walk from Nottingham train station (with tram/metro station even closer)
  • New HMRC offices in Nottingham 250 yards away (5,000 HMRC staff and civil servants)
  • Notts Trent University 20 min walk, 8 min drive
  • City of caves – 13 min walk
  • Victoria shopping centre – 20 min walk

PRICE

  • Studios: £130k – 147.5k
  • One Beds: £145k – 165k
  • Two Beds: £245k

PROSPECTIVE TENANTS

65,000 students across both universities

Young professional renters

Older professional renters

Small families (two beds)

Investment Highlights

  • 10.7% increase in house prices between 2021 and 2022, the highest increase across the country
  • Voted Best City to live in the UK by the Sunday Times
  • A thriving rental market with 13% growth in rental yield between 2021 and 2022!
  • £250 million Southside regeneration scheme located next door to the scheme
  • The NG2 postcode has an average asking price of £332,000, much higher than the prices in this development.
  • £11 billion growth in metropolitan area GVA expected between 2020 and 2030
  • Fantastic transport connection with the city tram, M1 Motorway, Central Rail station and East Midlands Airport all a short distance from the development
  • 6-7% Yields based on current rental prices (which will likely increase before completion)

Investment Highlights

Location
The location of the Glassworks is second to none. Capitalising on the small area of the city centre, the majority of attractions, shopping centres, sporting + cultural hubs, offices and education institutions are a stones throw away from this development.

Population Growth
The population in the Nottingham Metropolitan Area was 726,000 back in 2010 which has increased to 807,000 in 2023, a 63,000 and 8.5% increase. The population is due to increase by a further 60,000 over the next 10 years as well which will inevitably put pressure on house prices and rental demand leading to further property price growth.

Economy & Housing Market
With a strong £50 billion + economy across the metropolitan area (£12.1 Billion in Nottingham itself), the 7th largest in the UK, Nottingham has a high level of resilience and high employment rate. This will help supply a number of high skilled, well paid renters who can tenant your properties. Furthermore, with Nottingham being the best performing housing market in the UK over the past couple of years and prices still way below the national average, investors can expect to receive above average capital growth and rental yields.

Regeneration
There is the £250 million Broadmarsh Regeneration project taking place next to The Glassworks which includes a new major retail centre, new library and 75,000 sqft of new public spaces. With a further £2 billion in regeneration projects happening across the city centre, including 850,000 sqft of new office space, Glassworks is ideally located to capitalise on the resulting increase in house prices due to more workers and influx of investment.

  • Trent Basin: Trent Basin is a sustainable housing development located on the banks of the River Trent. The project aims to create a low-carbon community with energy-efficient homes, green spaces, and sustainable transportation options. The estimated cost of the project is around £100 million.
  • Nottingham Science Park: Nottingham Science Park is a regeneration project focused on creating a hub for scientific research, innovation, and collaboration. The project includes the development of state-of-the-art laboratories, office spaces, and facilities for science-related businesses. The estimated cost of the project is around £30 million
  • Nottingham Waterside: The project includes residential, commercial, and leisure developments, with a focus on creating vibrant public spaces and enhancing connectivity. The estimated cost of the project is around £500 million.

Education
As well as having over 65,000 students across 2 universities, the city has a number of highly regarded colleges and academies that rank highly in Ofsted reports. This in turn drives demand for rental accommodation for young workers in the city as well as attracting families to the area as well.

Transport
Nottingham has an enviable transportation network. Located in the heart of England, 80% of the UK population is within a 3 hour drive thank to the M1 and A1. The station, located 2 minutes walk from the development, can take you to London in just 95 mins, as well being well connected to the West Midlands, North East and North West. The East Midlands airport also offer convenient access to Europe with the majority of European destinations within a 3 hour flight. Within the city itself it has one of the best tram networks of any UK city alongside multiple bus routes meaning car ownership is not necessary anywhere within the city.

Thank you!