Key Takeaway: Apartment 33 at Crusader House offers a beautifully refurbished one-bedroom flat in Nottingham’s historic Lace Market, delivering a 7.9% average rental yield and a projected 64.7% total return over five years.
Introduction
Crusader House Lace Market apartment
At Crusader House Lace Market apartment, Apartment 33 provides an exceptional city-centre living and investment opportunity. Firstly, nestled on Thurland Street in Nottingham’s vibrant Lace Market, this one-bedroom, open-plan flat combines period character with modern finishes. Moreover, its proximity to tram stops, boutique cafés, and cultural landmarks ensures high tenant demand from young professionals and students alike.
Property Overview
- Type: One-bedroom apartment
- Floor: Third (top) floor with lift access
- Internal area: Approx. 550 sq ft
- Tenure: Leasehold (125 years from 2000)
- Listing: Grade II listed building
- Guide Price: £160,000–£170,000
Location & Connectivity
Secondly apartment 33 sits in Nottingham’s Lace Market, a conservation area renowned for converted Victorian warehouses. It offers:
- Nottingham Express Transit (NET) tram stop at Lace Market Square, 200 m away.
- Nottingham Station (0.8 miles) with East Midlands and national rail services.
- Major bus routes on Carrington Street linking to the University of Nottingham and QMC Hospital.
- Car-parking permits available via Nottingham City Council.
Consequently, residents enjoy seamless access to the entire city and surrounding region.
Architectural Heritage
In addition crusader house was constructed in 1892–93 by W. S. Joseph & C. J. Smithem as mixed-use flats with ground-floor shops. Its red-brick façade with ashlar dressings exemplifies late Victorian urban architecture. The Grade II listing protects key features such as sash windows, decorative brickwork and cast-iron columns in the communal entrance hall. Therefore, any refurbishment has preserved original cornices and exposed brick walls, blending heritage with contemporary comfort.
Apartment 33: Features & Specifications
- Spacious open-plan living/kitchen with engineered oak flooring
- Fully fitted kitchen: quartz worktops, integrated Smeg appliances
- Double bedroom with built-in wardrobes and exposed brick accent wall
- En-suite bathroom: rainfall shower, wall-hung vanity unit
- Energy-efficient LED lighting and programmable electric radiators
- Secure video-entry system and communal leisure suite
- High-speed fibre broadband and smart-TV connectivity
Key Feature: Full-height industrial-style windows flood the apartment with natural light, creating a loft-style ambiance.
Amenities & Local Attractions
City of Caves beneath Nottingham’s streets
Victoria Centre shopping mall and Wollaton Hall & Park for green space
Theatre Royal & Royal Concert Hall hosting West End shows
Nottingham Property Market & Investment Highlights
Furthermore, Nottingham combines affordability and strong rental yields. In addition, with average city-centre yields range 6.0%–8.3%, while NG1 Lace Market delivers 8.2%–10.8% yields. Monthly rents for a one-bed apartment here average £1,050, translating to a 7.9% gross yield on a £160,000 purchase price. Adding to that an annual rent growth in Nottingham hit 7.7% (Jan 2024–Jan 2025), and property values rose 3% year-on-year, with a five-year growth of 35%.
Investment Analysis & 5-Year ROI
Using conservative and optimistic rent scenarios, calculation for Apartment 33 yields:
- Firstly, rental yield: 7.1% – 8.6% (Avg 7.9%)
- Secondly, 5-year capital appreciation: ~18.8%
- Thirdly, 5-year total return: 60.3% – 69.1% (Avg 64.7%)
- Annual average return: ~12.9% p.a.
Figure 2: Rental yields, ROI projections, investment breakdown, and Lace Market vs. national averages.
Key Insight: Even under a conservative scenario, Apartment 33 delivers near 61% total return over five years, outperforming UK average returns by 50–60%.
Why Invest in Crusader House
- Prime location in a heritage conservation area with ongoing £4 billion city-centre regeneration.
- High tenant demand from professionals, students at Nottingham Trent University (0.4 miles) and the University of Nottingham.
- Protected character and limited supply ensure capital preservation.
- Low entry price relative to other UK city-centre markets.
- Strong transport links via tram, bus and rail.
How to Bid & Internal Resources
- First check out Register for this auction on our Auction Calendar
- Secondly read our Auction Process Guide
- Explore similar Nottingham listings in our Recent Auctions
- Learn more about Nottingham in our Area Guide
Suggested Outbound Links
- Nottingham City Council – Regeneration Projects: nottinghamcity.gov.uk/regeneration
- Nottingham Trent University: www.ntu.ac.uk/
- National Justice Museum: nationaljusticemuseum.org.uk/
- Nottingham Contemporary: nottinghamcontemporary.org/
Lastly, this page last updated: Thursday, 21 August 2025