575A – 581A MANSFIELD ROAD, NOTTINGHAM NG5 2JN MULTI LET COMMERCIAL INVESTMENT FOR SALE ON BUSY MAIN ROAD UNBROKEN PARADE OF SHOPS WITH UPPER PARTS
PRICE £860,000 Current Passing Rent: £77,400 p.a.
Location & Description Forming a terrace of six, two-storey shops, situated on the west side of Mansfield Road (A60), a principal arterial route out of Nottingham Town Centre, close to its junction with Newstead Street. This is the the main shopping road in the largely residential area of Sherwood. Nearby occupiers include Boots, Lloyds Pharmacy, Wilkinson, Pizza Hut, the Co-operative Food Stores and Lloyds TSB. There is a private car park (shown below) to the rear of the building.
EPC Unit 575a, 577a Rating E Unit 581a Rating G Remainder being commissioned
575A – 581A MANSFIELD ROAD, NOTTINGHAM, NG5 2JN
Accommodation TENANCY SCHEDULE Property Address
Tenant
Lease Term
Lease From/To
Next Rent Review (Next Break)
Net Internal Area
ITZA
Rent PA
575a
Khalidul Islam
25 Years
25.06.1991 25.06.2016
N/A
1,276 ft2 118.6 m2
596 ft2 55.38 m2
£15,000
577
Shanwaz Shafiq
15 Years
10.05.2011 09.05.2026
10.05.2016 (09.05.2016)
1,161 ft2 107.9 m2
520 ft2 48.30 m2
£12,000
577a
Firth & Scott (Insurance Brokers) Ltd
10 Years
01.08.2007 31.07.2017
N/A
1,525 ft2 141.70 m2
1,038 ft2 96.47 m2
£13,100
579
Firth & Scott (Insurance Brokers) Ltd
10 Years
01.08.2007 24.03.2017
25.03.2012
1,525 ft2 141.70 m2
(As above)
£13,100
1st Floor 579a
Firth & Scott (Insurance Brokers) Ltd
5 Years, 7m&9 days
23.12.2011 31.07.2017
1,244 ft2 115.60 m2
579a Ground Floor
Nottingham Reptile Centre
5 Years, 7m&9 days
23.12.2011 31.07.2017
718 ft2 66.73 m2
Karen Taylor
10 Years
25.12.2011 24.12.2021
Elec Sub Station
21 Years
29.09.1986 28.09.2007
581A
* Dimensions taken from the VOA Website . Prospective buyers should make their own enquiries as to there accuracy.
25.12.2016 (24.12.2016)
540 ft2 50 m2
TOTAL NIA
7,989 ft2 742.23 m2
There is a car park to the rear of the property accessed via Daybrook Street
575A – 581A MANSFIELD ROAD, NOTTINGHAM, NG5 2JN
£2,000
511 ft2 47.48 m2
£10,000
£12,200
TOTAL RENT
£77,400.P.A.
Proposal Price: £860,000 for the freehold interest, subject to contract and the occupational tenancies, and exclusive of VAT. A purchase at this level reflects an attractive Net Initial Yield of 8.51% assuming standard Purchaser’s costs of 5.8%
Further Information All enquiries are to be directed through sole agents Strettons. Strettons 7-10 Chandos Street London W1G 9DQ Telephone: 020 7637 8080 Fax: 020 7907 7420 Yoni Benari
Nick Duck
[email protected] 020 7907 7424
[email protected] 020 7907 7422
MISREPRESENTATIONS: These particulars do not constitute an offer of contract. We have not tested any of the services referred to in these particulars. The accuracy of any description, dimensions, reference to condition, necessary permissions for use and other details contained herein is not guaranteed and is for general guidance only. Applicants should satisfy themselves as to the correctness of the details including as to whether VAT is payable on rents, prices or premiums