Auction Property 1248 sqft  Retail 

High Road, Nottingham

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Features

  • Auction Date 16th&17th December 2019
  • High Street retail premises
  • Good condition throughout
  • High footfall
  • Current A3 usage, used as a café
  • Passing rent of £15,000 pa
  • Gross yield of 10%
  • GIA of 116 sq m / 1248 sq ft
  • 20 year lease with no break clause

Address

89 High RoadBeestonNottinghamNottinghamshireNG9 2LE
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Property Details

•For Sale By Online Auction: 16th & 17th December 2019
•Guide Price: £150,000+
•End of terrace High Street retail premises – Gross yield of 10%
•A3 Usage – Currently uses as a café
•Current income of £15,000 pa

The property occupies an end of terrace unit on a prominent corner position on Beeston High Street. The main retail area is located on the ground floor and there is an office and storage area to the first floor. The shop benefits from a fully glazed frontage.

The establishment is located on the south side of the High Street in the popular town of Beeston, Nottingham. Nearby occupants include banks and national retail chains, Sainsburys, Tesco and Iceland.

Beeston is particularly attractive to families, along with students attending the nearby Nottingham University located just 5 minutes away. Beeston also hosts Boots manufacturing site which employs over 8,000 people from the area.

The ground floor comprises an open-plan dining area with an open commercial kitchen, separate wash room to the rear and a customer WC.

There is an opportunity to develop the first floor into a self-contained flat subject to planning.

The current tenant has been trading from the unit since 2017 and the area generates a high footfall thus making the café a very popular establishment for Beeston residents. The unit is rented on a 20 year FRI lease from October 2017 and contains no break clauses.

Passing Rent

£15,000 pa

Lease Summary

20 year FRI lease from 25th October 2017 with a rent review every 5th year.

Accommodation

Ground floor: 87 sq m / 936 sq ft
First floor: 29 sq m / 312 sq ft

Total Gross internal floor area of approximately: 116 sq m / 1248 sq ft

Services

We understand the property to have mains gas, electricity, water and drainage.

Tenure

Freehold

Guide Price

£150,000+

Business Rates

The VOA website advises the property is described as shop and premises and has a rateable value of £13,750.

Buyer's Premium

2% (min. £3,600) inc. VAT

Viewings

Viewings by appointment only.

Please contact John Pye Property on 0115 970 6060 or email property@johnpye.co.uk to arrange an appointment.

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