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Nottingham Road, Stapleford, Nottingham Guide Price £500,000

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Property Description

A substantial COMMERCIAL FREEHOLD INVESTMENT OPPORTUNITY. Approximately 650 sq.m. of gross external floor area over two floors, total income of £34,000 per annum. Parking for up to twenty eight. There is also a detached two storey dwelling house (28 Nottingham Road) divided into two self-contained flats, combined income of £770.00 pcm. Price guide of £120,000 subject to current tenancies.
  • SUBSTANTIAL COMMERCIAL FREEHOLD INVESTMENT OPPORTUNITY
  • 650 sq.m. OF GROSS EXTERNAL FLOOR AREA OVER TWO FLOORS
  • TOTAL INCOME OF £34,000
  • HIGH QUALITY SUITE OF OFFICES TO THE FIRST FLOOR
  • SEWING AND CRAFT ENTERPRISE TO THE GROUND FLOOR
  • 1/3 ACRE PLOT
  • PARKING FOR UP TO 28
  • PROMINENT BUILDING
  • CLOSE TO ALL COMMUTER LINKS
  • CONTACT ROBERT ELLIS TO VIEW

A SUBSTANTIAL COMMERCIAL FREEHOLD INVESTMENT OPPORTUNITY.

This instantly recognisable building offers approximately 650 sq.m. of gross external floor area over two floors and is currently let to provide a total income of £34,000 per annum.

This landmark property, once a furniture showroom for local furniture manufacturers, Sail Brothers, has been converted in more recent times to provide for two separate functions

The first floor offers a high quality suite of offices, formerly occupied by Ling Phipp Accountants, who have now recently merged with a national firm of accountants, Haines Watts.

The first floor comprises eleven offices, as well as meeting room, open plan office area and the usual staff facilities.

The ground floor space of some 325 sq.m. comprises a central reception area with two large open plan rooms, as well as store room and staff facilities and is occupied by an independent sewing and craft enterprice.

The building occupies a plot extending to approximately 1/3 of an acre, which includes a substantial car park of some 840 sq.m., which currently provides for up to twenty eight parking bays.

This highly prominent building is situated within the town of Stapleford, equidistant between the cities of Nottingham and Derby, and connected via the A52, Brian Clough Way and public transport links. Junction 25 of the M1 Motorway, is less than three miles distance, whilst East Midlands Airport is approximately ten miles away.

The current Freeholder also owns a detached two storey dwelling house known as 28 Nottingham Road, adjacent to Cliffe Hill House. This residential building has purposely been sub-divided into two self-contained flats, generating a combined income of £770.00 per calendar month, which is also available for sale, subject to the existing Tenancy Agreements at a price guide of £120,000.

The residential and commercial elements combined currently return £43,240.00 per annum and offer great long term investment potential.

A rare opportunity indeed to purchase a substantial bricks and mortar investment, close to the centre of an established and ever improving town, with the possibility of future redevelopment potential, subject to the expiration of the current Tenancy Agreements and vacant possession.

GROUND FLOOR TENANCY PROFILE

The ground floor element of Cliffe Hill House is occupied by 'Sewing Belle', an independent craft retailer. The rent passing is currently £9,000 per annum on an FRI Lease, which is due for renewal in September 2019. We understand the current tenant will be keen to remain and happy to discuss new terms.

FIRST FLOOR TENANCY PROFILE

The first floor of Cliffe Hill House is let to Haines Watts, a national firm of Accountants. The rent passing is £25,000 per annum, on a three year FRI Lease which commenced on the 1st September 2018. The tenants have a further three year option after this initial term.

CAR PARK

The car park, in the main, is for the sole use of the first floor premises and there is currently allocation for a parking bay for each of the residential flats, known as 28 and 28a Nottingham Road.

VIEWING ARRANGEMENTS

As the buildings are currently subject to existing tenancy agreements, it is important that disturbance of the Tenants is kept at a minimum and therefore viewing must be by strict prior arrangement with the sole selling agents.

RESIDENTIAL ELEMENT

28 Nottingham Road comprises a self-contained first floor flat of 42 sq.m. internal floor area, achieving a rent of £395.00 pcm.

28a Nottingham Road is a self-contained ground floor flat offering approximately 42 sq.m. of internal space and is let at £375.00 pcm.

A SUBSTANTIAL COMMERCIAL FREEHOLD INVESTMENT OPPORTUNITY

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Nottingham Road, Stapleford, Nottingham

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