COMMERCIAL BUILDING, UPPER SAXONDALE, NOTTINGHAM MIXED USE INVESTMENT FOR SALE
NOTTINGHAM – Commercial Building, Westminster Drive, Upper Saxondale, NG12 2NL
TRAFFORD OLIVER T: 0115 9598848 17 Regent Street, Nottingham, NG1 5BS E: [email protected] W: traffordoliver.co.uk
COMMERCIAL BUILDING, UPPER SAXONDALE, NOTTINGHAM MIXED USE INVESTMENT FOR SALE
It is a predominantly residential area and is located within the parish of Radcliffe on Trent INVESTMENT SUMMARY in the borough of Rushcliffe.
Excellent mixed use investment opportunity. The village was developed around the conversion of a former Victorian Hospital with Total income of £70,200 pax rising to £72,700 pax in 2017. 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. Let to Venezia Italian Restaurant, Office Occupiers and Beauty 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 T: 0115 9598848 17 Regent Street, Nottingham, NG1 5BS E: [email protected] W: traffordoliver.co.uk
COMMERCIAL BUILDING, UPPER SAXONDALE, NOTTINGHAM MIXED USE INVESTMENT FOR SALE
Description & Accommodation We calculate the site area via Promap to be approximately: The property was previously the Central Administrative building for the 0.173 hectares 0.427 acres hospital complex until the hospital closed. It was extensively refurbished to a high standard and now provides a central commercial focus for the village. For Identification purposes only 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.
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 T: 0115 9598848 17 Regent Street, Nottingham, NG1 5BS E: [email protected] W: traffordoliver.co.uk
COMMERCIAL BUILDING, UPPER SAXONDALE, NOTTINGHAM MIXED USE INVESTMENT FOR SALE
Tenancy Schedule Area Rent Lease Lease Break Unit TENANT Rent Reviews NOTES (sq ft) (£ pa) Start Expiry (year) Erjon Ferracaku & Blerim Eles Aga Upward only 3 GF Restaurant 2,536 £25,000 10-Sep-14 9-Sep-24 3 Rent rising to £27,500 pa Sept 2017 t/a Venezia yearly to OMV GF & FF Office Fashion Personnel Ltd 1,165 £18,500 11-Aug-14 10-Aug-19 3 Year 3
FF Office Upward only 3 Inside Land (Midlands) Ltd** 416 £ 6,250 01-Jul-14 01-Jul-17 Annual £3,000 rent deposit held Unit A yearly to OMV FF Office Vendor will provide 12 months rent, Vacant 1,107 £10,000 Vacant Vacant Unit E rates, service charge guarantee FF Salon Susanna Emily Storr Annual for Upward only 3 Holding over - 3 months’ notice at 752 £7,250 03-Apr-02 02-Apr-07 Unit B t/a Loft Beauty 1st 3 years yearly to OMV any time FF Salon Upward only at In occupation since 2002 Sarah Jane Storey 215 £3,200 19-May-13 18-May-16 18-Nov-14 Unit C Year 3 to OMV £1,000 rent deposit held TOTAL 6,641 £70,200
**The tenant has served Notice to exercise its Break Option effective 30 June 2016. The vendor will provide 12 months rent, rates, service charge guarantee Income Planning The overall current income is £70,200 per annum, rising to a minimum of From investigations made via the Planning section of the Rushcliffe Borough £72,Stephenson700 per annum Drive, in September Leicester 2017; LE3 assuming 9AE Office Units E & A are by then Council website, and verbal enquiries of the Planning Department; we understand let at rents of £10,000 per annum and £6,250 per annum respectively. that the property is not Listed but does fall within the Upper Saxondale Conservation Area. Interested parties with any planning queries should direct
Service Charge their enquiries to Rushcliffe Borough Council. There is a service charge in relation to the external areas such as external repairs and maintenance to the building itself along with parking/landscaping Energy Performance Certificates within the overall property. The service charge also covers some of the utilities EPCs have been commissioned and the individual asset ratings for the various within building where these are shared and not separately metred. Further parts of the building will be available upon request.
information is available on request.
TRAFFORD OLIVER T: 0115 9598848
17 Regent Street, Nottingham, NG1 5BS E: [email protected] W: traffordoliver.co.uk
COMMERCIAL BUILDING, UPPER SAXONDALE, NOTTINGHAM MIXED USE INVESTMENT FOR SALE
Covenant Information The Loft Hair Studio is a boutique salon with an experienced team of stylists
Fashion Personnel - Company No. 2608639 and beauty therapists. The Loft has been operating within the property since Launched in 1991, the company deals in Fashion Recruitment through 7 divisions, 2002. Website: http://www.thelofthairstudio.co.uk/ covering the entire fashion and retail industry. With offices in London's West End and Nottingham, they recruit for fashion and retail jobs throughout the UK and Sarah Storey Beauty and Wellbeing Therapies is another salon offering a full internationally: http://www.fashionpersonnel.co.uk/ range of treatments and therapies including massage, facials, sunless tanning
and waxing. Sarah Storey has a particular specialism in remedial massage.
The latest accounts for the period ending 30 Jun 2014 showed Website: http://www.sarahstoreybeauty.co.uk/ Turnover £2,342,899 Pre-tax profits £ 278,421 Shareholders’ Funds £ 737,579
The remaining tenants are all private individuals/private limited company with no published accounts.
Venezia is a popular traditional Italian restaurant offering fine dining and caters for weddings, business functions, christenings and parties.
Website: http://www.venezia-restaurant.co.uk/
Inside Land (Midlands) Ltd is a property consultancy established in 2007 operating throughout the UK. The company’s primary objective is to source and acquire land opportunities to meet the active requirements of house builders, commercial de- velopers, private investors and investment funds.
Website: http://www.insideland.co.uk/
TRAFFORD OLIVER T: 0115 9598848 17 Regent Street, Nottingham, NG1 5BS E: [email protected] W: traffordoliver.co.uk
COMMERCIAL BUILDING, UPPER SAXONDALE, NOTTINGHAM MIXED USE INVESTMENT FOR SALE
Location Maps
TRAFFORD OLIVER T: 0115 9598848 17 Regent Street, Nottingham, NG1 5BS E: [email protected] W: traffordoliver.co.uk
COMMERCIAL BUILDING, UPPER SAXONDALE, NOTTINGHAM MIXED USE INVESTMENT FOR SALE
PROPOSAL
Offers in excess of £750,000 (seven hundred and fifty thousand pounds) are invited for the freehold interest, subject to the Leases as described within these particulars.
A purchase at this level will reflect the following:
net initial yield 8.88%
reversionary yield 9.20% (September 2017)
assuming normal purchasers costs of 5.4%.
Details dated April 2016.
Contact For further information or to arrange an inspection please contact:
Charles Trafford Trafford Oliver T: 0115 9598848
[email protected] DISCLAIMER NOTICE:
Trafford Oliver Ltd for themselves and the Sellers or the Lessors of this property, who’s Agents they are, give notice that: 1.The Particula rs are a general outline of the property only for the guid- ance of intended Buyers or Lessees and do not constitute any part of an offer or a contract. 2. All descriptions, dimensions, references to condition and other details are given without responsibil- ity and may not be relied on as statements or representations of fact. Any reference to the use or occupation of the propert y or alterations does not imply that any necessary permissions have been obtained and any intended Buyer or Tenant must make his own enquiries. 3. Any Buyer or Tenant must satisfy himself by inspection or otherwise as to the correctness of any information provided by Trafford Oliver Ltd. 4. No person in our employment has any authority to make or give any representation or warranty whatsoever in relation to the property.
TRAFFORD OLIVER T: 0115 9598848 17 Regent Street, Nottingham, NG1 5BS E: [email protected] W: traffordoliver.co.uk