•Single storey retail unit
•Potential rental income of £4,800 per annum
•Ideal investment opportunity – Potential yield of 7.68%
The subject property is located on Portland Road, near to the town centre of Hucknall. The property also neighbours the popular residential area of Butler’s Hill. The area is serviced regularly by excellent public transport links and is just three miles from the M1. It is approximately seven miles north-west of Nottingham, England.
This end terraced retail unit situated within a popular mixed residential and commercial area represents an ideal investment opportunity.
The unit is entered via a door to the front aspect, giving access to the spacious office area which is carpeted and benefits from fluorescent strip lighting.
There is a small kitchen to the rear of the office with wood effect vinyl flooring, base and eye level units, a sink, space for appliances and ceramic tile splash-backs. Adjacent to the kitchen is a small WC with a wash basin and low-level WC.
Externally, the property benefits from a gated rear yard and WC. Parking is also available within the vicinity.
Office – 8.76 x 4.51 (max)
Kitchen – 1.80 x 2.12
Cloakroom – 1.07 x 1.73
WC – 1.00 x 1.73
45.61 Sq. M (490.94 Sq. Ft)
We understand the property has mains electricity, water and drainage. However, interested parties are advised to carry out their own investigations.
The subject property is currently vacant; however, we envisage it could let at £400 pcm which produces an annual income of £4,800. This would represent a potential gross yield of 7.68%, based on the asking price.
The premises has a current rateable value of £3,950 with rate payable equating to approximately £1,935 (2019/2020).
A Buyer’s Premium of 1% (min. £900) Inc. VAT is payable on top of the purchase price. Please take in to account when offering on a property.
Viewings are available by appointment only please contact a member of the John Pye Property team today 0115 970 6060.