Commercial property for sale in Nottingham Road, Arnold, Nottingham NG5

Strapline

Auction Sale - 10/05/2022

Of Interest to Investors and Developers - A prominent corner shopping parade comprising of 5 retail units over ground and 1st floor and 6 garages to the rear. Investment let at £82,760 P.A. (10.41% on Guide Price)

Description

The property is a 2 storey corner building comprising of 4 retail units on the ground floor, a retail unit located across most of the 1st Floor and 6 garages to the rear.

The ground floor retail units are occupied by an Italian restaurant (with a flat on the first floor), Bathroom show room, Carpet show room and Dog grooming salon.

The 1st floor is occupied by a Gym and flat (within the curtilage of the restaurant at 98/100 Nottingham Road).

The garages to the rear are let to the existing tenants on the ground floor with one becoming vacant on the 1st April 2022

Near by occupiers include Wilko (located opposite), Wetherspoons, Oxfam, Poundland, WHSmith and Peacocks.

Location

The property is located on the junction of Arnot Hill Road and Nottingham Road in the Town of Arnold. Arnold is situated approximately 3.6 miles North East of Nottingham City Centre.

Nottingham Station an approx. 4.2 miles from the site.

Transport

Nottingham Station - East Midland Railway services to London St Pancras, Derby, Leeds, Sheffield, Birmingham New Street and Liverpool Lime Street.

Tenancy

98/100 Nottingham Road - Trading as Luigis (Italian Restaurant)

• Let on 10 year lease from 24/06/2015
• Investment let at £23,000 p.a.

102 Nottingham Road - Trading as C&S commercial services Ltd (Bathroom Show room)

• Let on 3 year lease from the 01/08/2020
• Investment let at £12,000 p.a.
• Fixed rent increase to £16,000 on the 31/07/2022

2 Arnot Hill Road - Trading as The Little Carpet Company (Carpet Show room)

• Let on a 5 year lease from the 26/12/2021
• Investment let at £12,000 p.a.

4 Arnot Hill Road - Trading as Dogz (Dog grooming Salon)

• Let on a 5 year lease from 01/03/2021
• Investment let at £12,000 p.a.

Bonnington Chamber Arnot Hill Road (1st Floor)- Trading as Energie (Gym)

• Let on a 10 year lease from 10/03/2017
• Investment Let at £16,850 p.a.
• Fixed rent increase to £17,000 p.a. On the 19/06/2022

Garage 1 - Investment let at £1,560 p.a.

Garage 2 - Investment let at £1,560 p.a. - Please note it will be vacant from the 1st April 2022

Garage 3 - Rented to Bathroom Show room included in the above rent

Garage 4 - Rented to Gym included in the above rent

Garage 5 - Rented to the Bathroom Show room included in the above rent

Garage 6 - Rented to the Restaurant included in the above rent

Accommodation

The below measurements have been taken from the voa any purchaser must rely on their own enquiries

98/100 Nottingham Road - Approx. 1,057 sq ft ( 98.2 sq m) Upstairs flat not included in this measurement

102 Nottingham Road - Approx. 957 sq ft (89 sq m)

2 Arnot Hill Road - Approx. 447 sq ft (41.6 sq m)

4 Arnot Hill Road - Approx. 533 sq ft (49.6 sq m)

Bonnington Chamber Arnot Hill Road - Approx. 2,572 sq ft (239 sq m)