Acquired
Nottingham – Barbershop & Flat
11/11a Carlton Road, Nottingham, Nottinghamshire NG3 2DGFreehold Shop and Residential Investment
Tenure
Freehold
Lease Term
5 Years
Years Left on Lease
Holding Over
Area
1,263 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
- Shop lease expires 2024, no breaks
- 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. 11 (Ground Floor Shop): 45.4 sq m (488 sq ft)
No. 11A (First/Second Floor Flat): 72.0 sq m (775 sq ft)
The property provides the following accommodation and dimensions:
No. 11 (Ground Floor Shop): 45.4 sq m (488 sq ft)
No. 11A (First/Second Floor Flat): 72.0 sq m (775 sq ft)
Tenancy Description
The shop is at present let to S Purcell t/a Barbershop for a term of 5 years from 2nd September 2019 at a current rent of £5,700 per annum and the lease contains full repairing and insuring covenants. The first floor residential flat is at present let on an AST to an individual for a term of 12 months from 1st May 2019 at a current rent of £4,740 per annum. Tenant has been in residence for four years.
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.
