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Nottingham – Virtual Freehold Retail Investment

For sale: £80,000.00|800 Sq Ft|General Retail, Retail - High Street, Land, Retail, Commercial Land

Property details

FOR SALE£80,000.00
SIZE800 Sq Ft
ADDRESS2C Station Street, Long Eaton, Nottingham, Derbyshire, NG10 1GL
TYPEGeneral Retail, Retail - High Street, Land, Retail, Commercial Land
TENUREInvestment Opportunity, For Sale Leasehold
POSTED ON6th January 2023

Description

Investment Consideration:
Gross Initial Yield: 9.10%
Rental Income: £7,280 p.a.
VAT is applicable to this property
Comprises ground floor retail shop t/a gallery
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, providing the following accommodation and dimensions:
Ground Floor: 74 sq m (800 sq ft)
Open plan retail, Kitchenette, WC

Tenancy:
The shop is at present let to an Individual for a term of 2 Years from 1st March 2023 at a current rent of £6,000* p.a. and the lease contains full repairing and insuring covenants. *Fixed rental increase to £7,280 p.a. on 1st March 2024.
Vendor will top up rent, so the buyer receives £7,280 p.a. from completion.

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.

Location

marker
Location: 2C Station Street, Long Eaton, Nottingham, Derbyshire, NG10 1GL

Long Eaton (1.3 miles)

Attenborough (1.6 miles)

Beeston (3.0 miles)

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