This property at the moment is empty and unused. With redevelopment this could offer an excellent investment opportunity. The building would also need some building work both interior and exterior to bring the property up to the standard of the properties surrounding it.
The most appropriate sector of the market that this property can be classed into is the retail market sector. This is because of its unique location. Situated in the heart of Nottingham’s retail sector, on possibly one of the busiest retail stretch in the city the property has already the major advantage of the number of potential consumers walking past everyday.
The location of this property also has a major impact on the market value, located a couple hundred meters from both the Victoria shopping centre and the High Street.
This property would offer an excellent investment opportunity for property developers. If the property is brought and then leased out to a major national retailer as a retail outlet a profit would be likely to be made. The project could be managed by the real estate managers who could schedule the redevelopment and also value the property, another major role would be to handle the finance side including the budgeting for the investment. Building surveyors will be needed to ensure health and safety and also the property meets legal building regulations.
This property would be considered homogenous compared to the other two properties selected. This is because of the property’s location, located on a busy high street. However the property differs most as it has a shop front, primarily targeting retail or commercial markets as key clients.
The property can be considered heterogeneous as it is built out of brick as the other two properties are. Overall the property has more homogenous features than heterogeneous features.
There is a retail premises that is currently for sale in Regents Park Road, Finchley Central that offers similarities to this property in...