RETAIL INVESTMENT OPPORTUNITY 583 Road, Sherwood, NG5 2JN

MULTI LET RETAIL INVESTMENT IN THE POPULAR AREA OF SHERWOOD, NOTTINGHAM BUY!

• Fully let to TSB Bank plc &

The Hospice

• Current rent passing of

£41,500 per annum

• Return frontage in busy

shopping area, to the north of Nottingham city centre

• TSB did not exercise their break option in March 2021

• Nottinghamshire Hospice upsized from a previous store to this unit in 2018

Interested? Contact Will Torr 0115 979 3491 [email protected]

0115 950 6611 heb Chartered Surveyors | Apex Business Park | Ruddington Lane | Nottingham NG11 7DD

LOCATION: The property is situated in the suburb of Sherwood which lies approximately three miles north of Nottingham city centre.

The primary retail offering is concentrated around the A60 Mansfield Road which benefits from a daily traffic flow of c.50,000 vehicles.

The subject property situated on the corner of Mansfield Road and Newstead Street within the core retail pitch in Sherwood. Nearby retailers include:-

• Sue Ryder • Holland & Barrett • The Pudding Pantry • Boots • Wilkos • Birds • Co-Op • Card Factory

DESCRIPTION: The property forms a substantial two storey building which is split in to two self- contained retail units let to TSB Bank and The Nottinghamshire Hospice.

TSB Bank occupy the corner unit which has a return frontage to Newstead Street.

Internally, the ground floor forms their banking hall with back of house offices and a

safe. The first floor spans the entirety of the building and is home to further office

accommodation and staff amenities.

The Nottinghamshire Hospice occupies the second unit which is entirely over ground

floor. The unit has a main open plan trading area with rear storage, offices and staff amenities.

Both properties have rear servicing and the access to the two car parking spaces included within the properties title.

To the front, both retail units have glazed shopfronts providing access into their ground floor trading areas.

Interested? Contact Will Torr 0115 979 3491 [email protected]

0115 950 6611 heb Chartered Surveyors | Apex Business Park | Ruddington Lane | Nottingham NG11 7DD

ACCOMMODATION: The property has the following approximate net internal floor areas:-

UNIT No. TENANT DEMISE SQ M SQ FT Unit 1: Nottinghamshire Hospice Ground Floor 134.10 1,444 Unit 2: TSB Bank plc Ground Floor 159.17 1,713 First Floor 229.00 2,465

TOTAL: 522.27 5,622

Floor areas are taken from the Valuation Office Agency.

Externally , there are two car parking spaces with one space demised to each tenant. The car park is accessed to the rear of the building off Newstead Avenue.

TENANCY SCHEDULE

The property is let to two tenants on the following terms:- Unexpired Area Rent Percentage Address Tenant Lease Start Lease Expiry Rent Review Lease Term Comments (Sq Ft) (p.a.) Income to Expiry Effectively Full Repairing and Insuring by way of a Nottinghamshire Service Charge. Schedule Unit 1 1,444 13/04/2018 12/04/2023 - £18,000 1.79 43.37% Hospice Limited (The) of Condition in place.

One Car Parking space.

Effectively Full Repairing and Insuring by way of a 25/03/2021 Unit 2 4,178 TSB Bank plc 27/03/2016 25/03/2026 £23,500 4.74 56.63% Service Charge. (Not implemented) One Car Parking Space.

TOTAL 5,622 £41,500.00 3.27 100.00%

Interested? Contact Will Torr 0115 979 3491 [email protected]

0115 950 6611 heb Chartered Surveyors | Apex Business Park | Ruddington Lane | Nottingham NG11 7DD

COVENANT INFORMATION: EPC:

Nottinghamshire Hospice Ltd (The) - Company Number 01509313 The Nottinghamshire Hospice Ltd: C – 63 TSB Bank plc: E – 112 The Nottinghamshire Hospice are a leading charitable provider of palliative and end of life care in Nottingham and Nottinghamshire. They trade from 12 stores around ANTI MONEY LAUNDERING: Nottinghamshire all in suburban locations. In accordance with the anti-money laundering regulations, two forms of identification and confirmation of the source of funding will be required from the successful Experian credit rating 100 – Very Low Risk. purchaser.

TSB Bank plc – Company Number SC095237 DATAROOM: Access to the data room can be provided upon request. TSB Bank plc is a retail and commercial bank in the and a subsidiary of Sabadell Group. They operate from 536 branches and this branch is VIEWINGS: now one of the four remaining in Nottinghamshire. All inspections need to be arranged via the selling agents.

Experian credit rating 72 – Below Average Risk. Please do not visit the site with the intention of inspecting without prior approval.

TENURE: The property is freehold under Title No. NT148313.

PRICE: Offers are invited in excess of:-

£630,000 (Six Hundred & Thirty Thousand Pounds) which represents a net initial yield of 6.27%, allowing for standard purchaser’s costs of 5.13%.

VAT: We understand the property is elected for VAT. As such it is anticipated that the sale will be handled as a transfer of a going concern (TOGC).

Interested? Contact Will Torr 0115 979 3491 [email protected]

0115 950 6611 heb Chartered Surveyors | Apex Business Park | Ruddington Lane | Nottingham NG11 7DD

Interested? Contact Will Torr 0115 979 3491 [email protected]

0115 950 6611 heb Chartered Surveyors | Apex Business Park | Ruddington Lane | Nottingham NG11 7DD

THE PROPERTY

MISREPRESENTATION ACT These particulars do not constitute part of an offer or contract. All descriptions, dimensions, reference to condition and necessary permission for use and occupation and other details contained herein are for general guidance only and prospective purchasers or tenants should not rely on them as statements or representations of fact and must satisfy themselves as to their accuracy. Neither HEB Surveyors, nor its employees or representatives have any authority to make or give any representation or warranty or enter into anyInterested? contract in relation to the property. Rents Contactquoted in these particulars may beWill subject to VATTorr in addition. 0115 979 3491 [email protected] The reference to any mechanical or electrical equipment or other facilities at the property shall not constitute a representation (unless otherwise stated) as to its state or condition or that it is capable of fulfilling its intended function and prospective tenants/purchasers should satisfy themselves as to the fitness of such equipment for their requirements. Prices/rents quoted in these particulars may be subject to VAT in addition. a) These particulars were prepared from preliminary plans and specifications before the completion of the properties and are intended only as a guide. They may have been changed during construction and final finishes could vary. Prospective purchasers should not rely on this information but must get their solicitor to check the plans and specifications attached to their contract. heb Chartered Surveyors | Apex Business Park | Ruddington Lane | Nottingham NG11 7DD b) We0115 have not made 950 any investigations 6611 into the existence or otherwise of any issues concerning pollution of land, air or water contamination and the purchaser is responsible for making his own enquiries in this regard.