COMMERCIAL BUILDING, UPPER SAXONDALE, NOTTINGHAM MIXED USE INVESTMENT FOR SALE
NOTTINGHAM – Commercial Building, Westminster Drive, Upper Saxondale, NG12 2NL
TRAFFORD OLIVER 17 Regent Street, Nottingham, NG1 5BS
T: 0115 9598848 E:
[email protected] W: traffordoliver.co.uk
COMMERCIAL BUILDING, UPPER SAXONDALE, NOTTINGHAM MIXED USE INVESTMENT FOR SALE
INVESTMENT SUMMARY Excellent mixed use investment opportunity. Total income of £70,200 pax rising to £72,700 pax in 2017. Let to Venezia Italian Restaurant, Office Occupiers and Beauty
It is a predominantly residential area and is located within the parish of Radcliffe on Trent in the borough of Rushcliffe. The village was developed around the conversion of a former Victorian Hospital with further homes built within the old hospital grounds. The subject property is located in the heart of the village, being situated opposite the Church on Westminster Drive, which is the main spine road running through the heart of the village.
Salons.
Asset management & long term development opportunities. Strong position within the heart of the affluent village of Upper Saxondale.
Freehold. Offers in excess of £750,000 (seven hundred and fifty thousand pounds) reflecting a net initial yield of 8.88% and a reversionary yield in September 2017 of 9.20%. Location Nottingham has an estimated population of 310,800 with the wider urban area, which includes many of the city's suburbs, having a population of 729,977. Its urban area is the largest in the East Midlands and the second largest in the Midlands. Upper Saxondale is situated approximately 7 miles east of Nottingham off the A52, which provides easy access to Nottingham and linking with the A46 Fosse Road 1 mile further to the east.
TRAFFORD OLIVER 17 Regent Street, Nottingham, NG1 5BS
T: 0115 9598848 E:
[email protected] W: traffordoliver.co.uk
COMMERCIAL BUILDING, UPPER SAXONDALE, NOTTINGHAM MIXED USE INVESTMENT FOR SALE
Description & Accommodation The property was previously the Central Administrative building for the hospital complex until the hospital closed. It was extensively refurbished to a high standard and now provides a central commercial focus for the village. The property is of solid brick construction with decorative stone features under a pitched tiled roof and offers accommodation on Ground and First Floors. The building is occupied by a restaurant with bar; with four separate offices and two beauty salons.
We calculate the site area via Promap to be approximately: 0.173 hectares
0.427 acres
For Identification purposes only
Car sparking facilities for both staff and customers are provided on site, on a shared basis. Detail of the accommodation provided is shown in the Schedule below.
TRAFFORD OLIVER 17 Regent Street, Nottingham, NG1 5BS
T: 0115 9598848 E:
[email protected] W: traffordoliver.co.uk
COMMERCIAL BUILDING, UPPER SAXONDALE, NOTTINGHAM MIXED USE INVESTMENT FOR SALE
Tenancy Schedule Unit
TENANT
Area (sq ft)
Rent (£ pa)
Lease Start
Lease Expiry
Break (year)
Rent Reviews
NOTES
GF Restaurant
Erjon Ferracaku & Blerim Eles Aga t/a Venezia
2,536
£25,000
10-Sep-14
9-Sep-24
3
Upward only 3 yearly to OMV
Rent rising to £27,500 pa Sept 2017
GF & FF Office
Fashion Personnel Ltd
1,165
£18,500
11-Aug-14
10-Aug-19
3
Year 3
Inside Land (Midlands) Ltd**
416
£ 6,250
01-Jul-14
01-Jul-17
Annual
Upward only 3 yearly to OMV
