Acquired
Nottingham – Thai Massage & Flat
9/9a Carlton Road, Nottingham, Nottinghamshire NG3 2DGFreehold Shop and Residential Investment
Tenure
Freehold
Lease Term
5 Years
Years Left on Lease
Holding Over
Area
1,562 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Occupying a prominent roadside location
- Convenient location, close to city centre
- Comprises ground floor shop and a self-contained three-bedroom flat on the first and second floor
- In a growth location with new developments nearby
- Occupiers nearby include Motorpoint Arena, Pistachio, amongst other local traders
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property is arranged as a ground floor shop and a self-contained three-bedroom flat on the first and second floor.
The property provides the following accommodation and dimensions:
No. 9 (Ground Floor Shop): 72.06 sq m (776 sq ft)
No. 9A (First/Second Floor Flat): 73 sq m (786 sq ft)
The property provides the following accommodation and dimensions:
No. 9 (Ground Floor Shop): 72.06 sq m (776 sq ft)
No. 9A (First/Second Floor Flat): 73 sq m (786 sq ft)
Tenancy Description
The shop is at present let to Pantila Thai Massage for a term of 5 years from 1st June 2019 at a current rent of £3,600 per annum and the lease contains full repairing and insuring covenants. The lease provides for a rent review on the 1st June 2020 and 1st June 2022. The first/second floor residential flat is at present let on an AST to an individual for a term of 12 months since 2015 (Holding Over) at a current rent of £4,740 per annum.
Tenancies & Accommodation
Location Description
Nottingham is a city in Nottinghamshire, England and has a population of 321,500. Part of the East Midlands region, it is 128 miles (206 km) north of London and 45 miles (72 km) northeast of Birmingham. To the west lies Derby, separated by the M1 motorway.
