A blog by Aaron Cambden and Rob Pitick, owners of Fairview Estates, a letting and estate agent based on Heritage Mews, Nottingham.
Nottingham’s Creative Quarter is home to a large amount of period property. Once factories and mills, these buildings are now used for both commercial and residential purposes. Residential property with a history is a popular choice with tenants, private owners and landlords alike; period features don’t age and older properties are often energy efficient due to their construction.
For example, on Plumptre Street, you can find The Warehouse, a period building that was renovated into twenty two apartments in the early 2000s. It’s an attractive development that hasn’t dated in the past decade and a half. A standard two bed apartment in The Warehouse features traditional features such as metal girders and exposed brickwork alongside modern LED lighting and kitchen fittings.
Located in the centre of Nottingham, The Warehouse and similar property are sought after accommodation options for the growing number of professionals working in the Creative Quarter and across the city who are seeking style, functionality and convenience. There’s a growing market of potential tenants, buyers and landlords who are looking to secure their own square metres of history. With that in mind, here are our top tips for these groups:
Buying and letting period property
If you’ve decided to take a step onto the period property ladder, your first step should be to check the EPC (energy performance rating) given to the property. Many period properties do well in this area due to thick walls, however if there’s room for improvement it could be difficult to get changes approved if it’s a listed property. In the same vein, look out for damp, which could be difficult to fix and can be avoided from the start.
Consider the outdoor space available at the property if this is something you value. Former factories and mills are popular choices for renovation into flats and apartments; the windows on these buildings do not easily lend themselves to the addition of a balcony.
Finally, if you will need to park a vehicle, make sure that there is space to do so. It can sometimes be too evident that the carparks attached to renovated period buildings were built for carriages rather than cars!
Selling period property
The style and charm of period property is an attractive proposition for buyers. Therefore, it should not be too difficult to sell period property, providing you have considered the following points.
Be sure to showcase your property in its best light. Most period properties are very attractive buildings with quirky features, and this should be clear in photographs featured alongside your advert. Taking photos in sunlight and focusing on period details can be the difference between a fast sale and one that takes a little longer.
Thanks to thick walls, period property is often a warm and quiet place to live. It also has a high level of resilience compared to new builds. It’s important to emphasise a high EPC rating, soundproof qualities and low maintenance needs if these apply to your property – they’re great selling points.
Flats and apartments within period properties are often located in city central locations that were once the industrial parts of a town and are therefore surrounded by amenities and entertainment venues. If you’re property is counted in this number, be sure to place emphasis on the benefits of its location in advertisements and during viewings.