Nottingham – Virtual Freehold Retail Investment

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Investment Consideration:
Gross Initial Yield: 8.50%
Rental Income: £10,200 p.a.
VAT is applicable to this property
Comprises ground floor shop t/a beauty salon
Occupiers close by include Argos, Aldi and a number of local shops, restaurants/takeaways and convenience store.

Property Description:
The property comprises mid-terrace ground floor shop t/a beauty salon, providing the following accommodation and dimensions:
Ground Floor: 95 sq m (1,022 sq ft)
Open plan seating, 2 Rooms, Kitchenette, WC

Tenancy:
The property is at present let to an Individual for a term of 6 years and 11 months from 23 March 2021 at a current rent of £10,200 per annum and the lease contains full repairing and insuring covenants. Rent review on 28.02.25 (open market). Tenant option to determine on 28.02.25 with minimum 6 months notice. Deposit held of £725.

Tenure:
Long leasehold. Held of a 999 years lease from 1st January 2016 at a ground rent of peppercorn.

Location:
Long Eaton is a town in the Erewash district of Derbyshire, England, just north of the River Trent, about 7 miles (11 km) south-west of Nottingham and some 8.5 miles (13.7 km) south-east of Derby. The main road through the town forms part of the A6005 and junction 25 of the M1 motorway is on its north-western border. The area around the traffic island in the town centre is called The Green by locals. Long Eaton railway station is on the Midland Main Line. The Erewash Canal passes through the town. There are bus services to the nearby cities of Nottingham and Derby, which depart every few minutes. Other local services include the East Midlands Airport.