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150, Front Street, Nottingham, NG5 7EG

Guide price: £150,000.00|Auction date: 2019-10-23|Lot: 26|Mixed Use, Other Property Types & Opportunities

PROPERTY DETAILS

ADDRESS150 Front Street, Nottingham, NG5 7EG
TYPEMixed Use, Other Property Types & Opportunities
TENUREFor Sale Freehold
TENANCYVacant
POSTED ON5th October 2019

DESCRIPTION

Features
Auction Date: 23rd & 24th October 2019
Mixed use investment opportunity
Requires minor refurbishment.
Separate access to first floor accommodation
Total potential income of £21,000 per annum
Potential gross yield of 14.00%
Prominent town centre location
Excellent transport links
Nearby Occupiers: Asda Superstore, Lloyds Bank & Boots
On street parking

Property Details
•For Sale By Online Auction: 23rd & 24th October 2019
•Guide Price: £150,000 – £160,000
•Vacant mixed use retail and residential property – Potential gross yield of 15%
•Excellent investment potential
•Some minor modernisation and maintenance works required
•Opportunity to add value
•Potential Income: £21,000 per annum after works

•For Sale By Online Auction: 23rd & 24th October 2019
•Guide Price: £150,000 – £160,000+
•Vacant mixed use retail and residential property - Potential gross yield of 15%
•Excellent investment potential
•Modernisation and maintenance works required
•Opportunity to add value
•Potential Income: £21,000 per annum after works

A rare opportunity to purchase a mixed-use property within the busy town centre of Arnold, Nottingham. The accommodation is arranged over ground and first floors; including a ground floor retail unit requiring some refurbishment, and a two-bedroom flat to the first floor with separate entrance to the rear.

The ground floor shop was previously used as a newsagent with the benefit of metal roller shutters to the front of the property. There is tiled flooring, a counter and shelving within the retail premises. There are also two storage areas to the ground floor.

The rear of the property provides access to both the ground floor shop and first floor flat. The first floor comprises a hallway leading to a spacious lounge, kitchen, two good-sized bedrooms and a bathroom. The kitchen benefits from a range of fitted units, integrated oven with fan extractor and stainless-steel sink.

Externally, the property benefits from UPVC double glazed windows to the front elevation. The property also benefits restricted on street customer parking to the shop frontage and space for vehicles at the rear.

Accommodation
Ground Floor Retail:
Retail unit – 5.50 x 10.50 m
Rear storage – 1.61 x 3.53 m
Second rear storage – 3.30 x 2.47 m
Total – 71.58 sq m (770 sq ft)

First Floor Residential:
Hallway – 3.44 x 2.12 m
Living room – 5.04 x 5.46 m
Kitchen – 2.89 x 2.41 m
Bedroom 1 – 3.33 x 2.35 m
Bedroom 2 – 3.94 x 3.32 m
Bathroom – 2.21 x 2.84 m
Total = 68.95 sq m (742 sq ft)

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

Tenure
Freehold with vacant possession.

Investment Analysis
Following a program of minor refurbishment, we envisage the ground floor retail unit to generate an income of £1,250 pcm (15,000 per annum), and the flat to let at £500 pcm (£6,000 per annum). This equates to a total potential income of £21,000 per annum, representing a potential gross yield of 14%, based on the lower guide price.

Guide Price
£150,000 - £160,000+

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.

Sell Your Property
If you are thinking of selling your property, contact us now for a free appraisal and benefit from:

•0% Seller Fee
•£0 Entry Fee
•£0 Marketing Costs
•20 Working Day Completion
•Monthly auctions

LOCATION

Location: 150 Front Street, Nottingham, NG5 7EG

Bulwell (2.8 miles)

Carlton (3.4 miles)

Hucknall (3.6 miles)

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