For Sale Prominent Main Road Retail / Residential Investment Opportunity

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Meagan Fleming
5 years ago
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1 For Sale Prominent Main Road Retail / Residential Investment Opportunity Mansfield Road Nottingham, NG13FH

Location The property is located in Nottingham, a city and unitary authority area in the East Midlands with a city population of 314,000 with a wider urban population of 729,000.

2 Location The property is located in Nottingham, a city and unitary authority area in the East Midlands with a city population of 314,000 with a wider urban population of 729,000. Nottingham benefits from excellent transport infrastructure with a mainline rail station providing services to London within 1 hour and 24 minutes, a Nottingham-wide tram network and Junction 26 of the M1 lying only 4 miles to the north west. The property lies approximately 250m to the north of Nottingham s Retail Core on the A60 Mansfield Road, a main arterial route into the City Centre leading from Mansfield 24km (15 miles) to the north. The subject property provides road frontage to Mansfield Road and backs on to Bluecoat Close providing rear access to the property. The local area is a well-established and popular student and retail location with a number of retail units and HMO s in the vicinity. Nottingham Trent University and the Victoria Shopping Centre are located within 250m of the property making this location highly attractive to students looking to secure private sector accommodation. The Property

Description The property comprises a 19th century double fronted, stone built 3-storey premises with a pitched slate-tiled roof.

approximately 8 cars (four to each external yard). The property occupies a rectangular shaped site abutting Bluecoat Close to the rear.

We understand the internal accommodation consists of two connected ground floor retail units with basement storage and being currently

3 Description The property comprises a 19th century double fronted, stone built 3-storey premises with a pitched slate-tiled roof. Pedestrian access is available off Mansfield Road and to the rear off Bluecoats Close where a hard surfaced area provides parking for approximately 8 cars (four to each external yard). The property occupies a rectangular shaped site abutting Bluecoat Close to the rear. The property has a non-traditional hard retail frontage with glazed arch windows and decorative stone/render work with two access doors. We understand the internal accommodation consists of two connected ground floor retail units with basement storage and being currently occupied by an estate agency, with the upper two storeys comprising of two self-contained, six bedroom apartments utilised as student accommodation.

Accommodation The site area is 0.028 hectares (0.070 Acres). The ground floor retail unit has a net internal area of 108.4 sq m (1,166 sq ft).

4 Accommodation The site area is hectares (0.070 Acres). The ground floor retail unit has a net internal area of sq m (1,166 sq ft). The basement stores provide a further 99.8 sq m (1,074 sq ft) of accommodation. The first and second floors comprise of two six-bedroom apartments providing twelve student letting rooms.

5 Tenancy Student Numbers Flat 1 was fully let for the 14/15 Academic year. 5 out of the 6 bedrooms within Flat 2 were let for the 14/15 Academic year. Gross rental receipts for the 14/15 Academic year were; Flat 1: 18,252 (39 week agreement). Flat 2: 15,600 (39 week agreement). These are all inclusive rates with a set utilities cap of 2, per apartment. The ground floor estate agency is let to Robin Thomson and in use as an estate agency on the following terms; Nottingham has a total student population of circa 65,000 and benefits from two of the most wellregarded higher education institutions in the UK, The University of Nottingham and Nottingham Trent University. The property is well located to serve both with Nottingham Trent s main City Centre campus within a 10 minute walk and direct buses to the University of Nottingham within a 5 minute walk. Tenure Tenant Robin Thomson Term end date 16 November 2014 (Holding over on a Tenancy at Will) Date of lease 17 November 2009 The property is held freehold title number NT Rent p.a. 17,000 Demise Insurance Repair Basement and ground floor offices including four car parking spaces within the rear yard. To Pay a contribution to the Landlord To keep the whole of the Premises in good and substantial repair and condition

6 Further Information Business Rates / Council Tax The rateable value of the property is 8,700. The Uniform Business Rate multiplier for 15/16 is 49.3p. Both apartments have a council tax banding of B. EPC Flat 1, 51 Mansfield Road has an EPC rating of C (71). Flat 2, 51 Mansfield Road has an EPC rating of D (57). A copy of the EPC relating to the ground floor unit is available on request. 53 Mansfield Road: James France GVA james.france@gva.co.uk Alex Sweetman GVA alex.sweetman@gva.co.uk gva.co.uk/9168 Planning All planning related queries should be directed to Nottingham City Council Local Planning Authority on GVA City Point, 29 King Street, Leeds LS1 2HL Subject to Contract September 2015 Or for any other investment sales please visit: gva.co.uk/investment

7 London West End London City Belfast Birmingham Bristol Cardiff Dublin Edinburgh Glasgow Leeds Liverpool Manchester Newcastle Published by GVA 10 Stratton Street, London W1J 8JR 2015 Copyright GVA GVA is the trading name of GVA Grimley Limited and is a principal shareholder of GVA Worldwide, an independent partnership of property advisers operating globally gvaworldwide.com GVA is the trading name of GVA Grimley Limited, conditions under which Particulars are issued GVA Grimley Limited for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are, give notice that: i.) The particulars are set out as a general outline only for the guidance of intending purchases or lessors and do not constitute, nor constitute part of, an offer or contract. ii.) All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details, are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them. iii.) No person in the employment of GVA Grimley Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property. iv.) All rentals and prices are quoted exclusive of VAT. Reproduced by courtesy of the Controller of HMSO. Crown Copyright reserved. Licence No If applicable, with consent of Chas E Goad, Cartographers, Old Hatfield, Geographers A-Z Map Co Ltd and/or The Automobile Association. For identification purposes only gva.co.uk/9168

FOR SALE. Modern mixed use investment opportunity. 131 Chatsworth Road Chesterfield Derbyshire S40 2AU. gva.co.uk/8990

FOR SALE. Modern mixed use investment opportunity. 131 Chatsworth Road Chesterfield Derbyshire S40 2AU. gva.co.uk/8990 FOR SALE Modern mixed use investment opportunity 131 Chatsworth Road Chesterfield Derbyshire S40 2AU gva.co.uk/8990 Investment Summary Attractive mixed use parade located on a busy link road to Chesterfield