Auction Property Retail 

Low Street, Sutton-In-Ashfield

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Features

  • Auction Date: 6th & 7th October 2021
  • 15 year FRI lease from June 2007
  • Lease expiring June 2022
  • Let to Barclays Bank Plc
  • Passing rent of £21,000 pa
  • Net initial yield of approx. 11.65%
  • Close to Idlewells shopping centre
  • Total area 326.8 sq m/ 3,517 sq ft
  • Rateable value of £17,250
  • Period property over three floors

Address

3 Low StreetSutton-In-AshfieldNottinghamshireNG17 1DH
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Property Details

•Freehold retail investment
•15 year lease from June 2007
•Lease expiring June 2022
•Let to Barclays Bank Plc
•Passing rent of £21,000 pa
•Gross initial yield of 12% based on guide price
•Total area 326.8 sq m/ 3,517 sq ft

The property is situated at the crossroads of Low Street and High Street, less than half a mile south from the centre of Sutton-In-Ashfield and a stone’s throw from Idlewells shopping centre.

Nearby occupiers include Lammas Leisure Centre, Costa Coffee, DM Furnishings and the Idlewells shopping centre with nearly 50 shops.

Low Street is located off High Pavement and is ideally situated for easy access to the A38 and M1 Motorway. Sutton Parkway railway station is approximately 10 minutes drive from the property which serves mainly the locals of Stannton Hill, Kirkby-In-Ashfield, Sutton Parkway, Fackley and Sutton In Ashfield.

Sutton-in-Ashfield has recently been awarded a grant of £62.6 million as part of the Town Fund investment. The investment focuses on four areas: business and education; health and wellbeing; boosting the visitor economy; and making Ashfield greener.

The property is an attractive period building, with accommodation arranged over basement, ground, and two upper floors.

The property is end terrace on a parade of retail shops, with good natural light.

The main retail space is accessed via a single door in the corner of the building.

To the ground floor the property benefits from a predominantly open plan layout, with two partitioned offices and a large walk in safe. The accommodation benefits from suspended ceilings and air conditioning. Stairs are located at the rear of the ground floor providing access down to the basement and to the first floor accommodation.

To the first floor there are two smaller self-contained offices to the rear of the property as well as two larger offices to the front, one of which contains a smaller walk in safe.

The second floor has; a kitchen, storage rooms / office space, disabled WC, separate male and female WC.

Accommodation

Ground floor 114.4 sq m/ 1,231 sq ft
First floor 107.3 sq m/ 1,154 sq ft
Second floor 105.4 sq m/ 1,134 sq ft

Total area 326.8 sq m/ 1,173 sq ft

Services

We understand the property is connected to mains electricity, water and drainage. We advise all interested parties to make their own enquiries in relation to the suitability of services.

Rateable Value

The current rateable value is £17,250.

Tenure

Freehold, subject to to the lease agreement with Barclay Bank Plc.

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