residential investment - Property Search - Savills
Retail / Residential Investment For Sale - Sherwood House, Forest Road, New Ollerton, Newark, NG22 9PL
savills.co.uk
savills.co.uk
Summary ◆◆
Prominently located fronting Forest Road (A6075) within a busy retail thoroughfare.
◆◆
Neighbouring occupiers include Boyes, The Post Office, Lloyds Bank, Heron Foods, Tesco, Asda and Boots.
◆◆
Let to William Hill Organisation Limited for a term of 20 years with effect from 17 March 2005 at a rental of £16,000 per annum and subject to rent review on 17 March 2020.
◆◆
First floor residential unit let on an AST at an additional £4,200 per annum.
◆◆
Offers are sought in the region of £320,000, which reflect a NIY of 6.02% assuming purchasers costs at 4.80%.
Location The property is located within the town of New Ollerton fronting Forest Road (A6075), to the south within a predominantly residential district, forming part of a popular and busy neighbourhood retail thoroughfare, including neighbouring occupiers Boyes, The Post Office, Lloyds Bank and Heron Foods, to name but a few. In addition, Tesco, Asda and Boots are within close proximity.
The Property The property comprises a double fronted retail unit arranged over ground and first floor, being of a traditional brick construction, having been extended to the rear and incorporating pebble dashed elevations, under a predominantly slate covered pitched roof with additional flat felted roofs to the rear.
The property incorporates UPVC double glazed window units at first floor level and a glazed shop fascia at ground floor level. In recent years the Local Authority have undertaken ‘Public Realm’ improvements to the pedestrian walkway incorporating parking bays directly to the front of the property. Internally, the accommodation is configured to provide a substantial ground floor retail unit currently occupied by William Hill, fitted out in their ‘house style’ together with a self contained first floor residential unit with independent access, providing reception room, dining room, kitchen and four bedrooms.
Tenure The property is held freehold.
Accommodation Measured in accordance with the RICS Code of Measuring Practice (6th Edition), we calculate the property provides the following approximate areas: Ground Floor
222.77 sq m (2,398 sq ft)
First Floor
110.55 sq m (1,190 sq ft)
Rateable Value Rateable Value £20,250 Rates Payable (2017/2018)
£9,436.60
EPC
Price
The property has an EPC Rating of D81
Offers are sought in the region of £320,000 (Three Hundred and Twenty Thousand Pounds) which reflects a NIY of 6.02%, assuming purchasers costs of 4.80%.
Tenancies Let to William Organisation Limited for a term of 20 years with effect from 17 March 2005 at a rental of £16,000 per annum, therefore presently having 7 years 10 months unexpired. The lease is subject to rent review on 17 March 2020. In addition, the first floor is let on an Assured Shorthold Tenancy at an additional £4,200 per annum, namely a total rental of £20,200 per annum.
VAT To be confirmed.
Legal Costs
Covenant
Each party will be responsible for their own legal costs incurred in the transaction.
William Hill plc is a FTSE 250 Company and is the UK’s largest land-based bookmaker with 2,375 licensed betting shops in the UK. William Hill Organisation Limited has a D&B Rating N1 and for the year ending 29 December 2015, reported a turnover of £873,900,000 and a pre-tax profit of £246,400,000.
First Floor Dining Room
First Floor Bedroom
Neighbouring Occupier
Neighbouring Retail Parade
Viewing and Further Information Strictly by appointment only with the Sole Agent, Savills. Savills Nottingham Enfield Chambers 18 Low Pavement Nottingham NG1 7DG Victor Ktori T: +44 (0) 115 934 8171 E: [email protected] Christine Thorn T: +44 (0) 115 934 8152 E: [email protected]
NOTE - Published for the purposes of identification only and although believed to be correct its accuracy is not guaranteed. Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office © Crown copyright licence number 100024244 Savills (UK) Limited.
NOTE - Published for the purposes of identification only and although believed to be correct its accuracy is not guaranteed. Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office © Crown copyright licence number 100024244 Savills (UK) Limited.
Important Notice Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, images and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.
savills.co.uk
savills.co.uk
Summary ◆◆
Prominently located fronting Forest Road (A6075) within a busy retail thoroughfare.
◆◆
Neighbouring occupiers include Boyes, The Post Office, Lloyds Bank, Heron Foods, Tesco, Asda and Boots.
◆◆
Let to William Hill Organisation Limited for a term of 20 years with effect from 17 March 2005 at a rental of £16,000 per annum and subject to rent review on 17 March 2020.
◆◆
First floor residential unit let on an AST at an additional £4,200 per annum.
◆◆
Offers are sought in the region of £320,000, which reflect a NIY of 6.02% assuming purchasers costs at 4.80%.
Location The property is located within the town of New Ollerton fronting Forest Road (A6075), to the south within a predominantly residential district, forming part of a popular and busy neighbourhood retail thoroughfare, including neighbouring occupiers Boyes, The Post Office, Lloyds Bank and Heron Foods, to name but a few. In addition, Tesco, Asda and Boots are within close proximity.
The Property The property comprises a double fronted retail unit arranged over ground and first floor, being of a traditional brick construction, having been extended to the rear and incorporating pebble dashed elevations, under a predominantly slate covered pitched roof with additional flat felted roofs to the rear.
The property incorporates UPVC double glazed window units at first floor level and a glazed shop fascia at ground floor level. In recent years the Local Authority have undertaken ‘Public Realm’ improvements to the pedestrian walkway incorporating parking bays directly to the front of the property. Internally, the accommodation is configured to provide a substantial ground floor retail unit currently occupied by William Hill, fitted out in their ‘house style’ together with a self contained first floor residential unit with independent access, providing reception room, dining room, kitchen and four bedrooms.
Tenure The property is held freehold.
Accommodation Measured in accordance with the RICS Code of Measuring Practice (6th Edition), we calculate the property provides the following approximate areas: Ground Floor
222.77 sq m (2,398 sq ft)
First Floor
110.55 sq m (1,190 sq ft)
Rateable Value Rateable Value £20,250 Rates Payable (2017/2018)
£9,436.60
EPC
Price
The property has an EPC Rating of D81
Offers are sought in the region of £320,000 (Three Hundred and Twenty Thousand Pounds) which reflects a NIY of 6.02%, assuming purchasers costs of 4.80%.
Tenancies Let to William Organisation Limited for a term of 20 years with effect from 17 March 2005 at a rental of £16,000 per annum, therefore presently having 7 years 10 months unexpired. The lease is subject to rent review on 17 March 2020. In addition, the first floor is let on an Assured Shorthold Tenancy at an additional £4,200 per annum, namely a total rental of £20,200 per annum.
VAT To be confirmed.
Legal Costs
Covenant
Each party will be responsible for their own legal costs incurred in the transaction.
William Hill plc is a FTSE 250 Company and is the UK’s largest land-based bookmaker with 2,375 licensed betting shops in the UK. William Hill Organisation Limited has a D&B Rating N1 and for the year ending 29 December 2015, reported a turnover of £873,900,000 and a pre-tax profit of £246,400,000.
First Floor Dining Room
First Floor Bedroom
Neighbouring Occupier
Neighbouring Retail Parade
Viewing and Further Information Strictly by appointment only with the Sole Agent, Savills. Savills Nottingham Enfield Chambers 18 Low Pavement Nottingham NG1 7DG Victor Ktori T: +44 (0) 115 934 8171 E: [email protected] Christine Thorn T: +44 (0) 115 934 8152 E: [email protected]
NOTE - Published for the purposes of identification only and although believed to be correct its accuracy is not guaranteed. Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office © Crown copyright licence number 100024244 Savills (UK) Limited.
NOTE - Published for the purposes of identification only and although believed to be correct its accuracy is not guaranteed. Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office © Crown copyright licence number 100024244 Savills (UK) Limited.
Important Notice Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, images and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.
