Commercial property for sale in Nottingham

FREEHOLD CITY CENTRE INVESTMENT AND FUTURE DEVELOPMENT OPPORTUNITY LOCATION The Property is situated in the city centre only a short walk away from Nottingham train station with dual frontage onto Traffic Street and Queensbridge Road that runs parallel to Sheriffs Way; a busy road linking the A6008 and A60.The immediate vicinity is predominately categorised by professional and administrative business, together with modern multistoreystudent developments.Nottingham is the regional and commercial capital of the East Midlands. The city has a catchment population of over 1.3 million people and forms the centre of the UK's 8th largest urban area.Nottingham is home to two higher education institutions, including the 3rd and 6th largest UK universities, Nottingham Trent University and the University of Nottingham which forms part of the prestigious Russell Group, with a combined total full time student population of 71,910.The new University of Nottingham Castle Meadow campus is opening in 2025, being less than a 10-minute walk from the site. The 9 acre site THE PROPERTY The Property comprises an attached 1900's warehouse and office premises, containing; inter-connected blocks of single storey, two storey and four storey elements. The Property has been re-configured to suit the currentoccupiers' requirements as a brewery and the entire property is tenanted by Castle Rock Brewery. The overall site area extends to 0.34 acres (0.14 ha) with the existing buildings covering most of the site.The single storey part fronts on to Queensbridge Road and comprises a drinking/live music venue with mezzanine, a four storey part which mainly comprises offices and ancillary stores together with a telecommunications mast fitted at roof level, all other parts are two-storey split acrossan office block and a warehouse.The Property is of traditional construction under a mixture of flat and pitched roofs with varying roof coverings. Windows are a mixture of uPVC double glazing and single glazed timber mounted.Plans of the Property are attached showing the Property ou ACCOMMODATION See the full brochure for a full accommodation breakdown. TENANCIES The Property is subject to two leases to Tynemill Limited; both Leases expire on the 27th March 2027 at a combined current passing rent of £52,099 Per Annum. The leases include Rent Review provisions every 5th year anniversary (upward only) and the most recent review was due in March 2022 that remains outstanding. The Leases include an obligation on the Tenants to put and keep all parts of the Property in good and substantial repair and are contracted inside the security provisions of the Landlord and Tenant Act 1954.In addition to the above, there is a third lease relating to a Telecommnications mast fitted to the tower block. The lease is for 15 years from 2nd December 2011 and will expire 1st December 2026. There is a rent payable of £9,550 Per Annum which is reviewed every 5th year anniversary. This lease is made between Floor Maintenance Services Holding Limited (Landlord), Tynemill Limited (Tenant) and T-Mobile Limited (Licensee); we understand that Tynemill receive the whole r SERVICES All interested parties are to rely upon their own enquires as to the availability of the services. No tests have been carried out by the selling agent. TENURE We are inviting offers in excess of £950,000 for the freehold (Title Number: NT368638) subject to three lease agreements (as previously referred to). SALE PROCESS The property is being offered For Sale by way of Informal Tender with offers to be submitted by 12th December 2024.Offers must be made in line with the tender details enclosed on our brochure and arrive at the offices of Pygott & Crone by post or email, no later than 12 noon on the tender date.The client is seeking unconditional offers for the freehold interest. Offers made on a conditional basis maybe considered on their individual merit.Please see brochure for all information surrounding the Tender process and how offers should be submitted. LEGAL COSTS Each party will be responsible for their own legal and professional costs incurred in this transaction. VIEWINGS Strictly by appointment or prior arrangement only. PLANS & AREAS Plans and images with these details are for identification purposes only, they are not to scale and have not been measured by Pygott & Crone.

Commercial property for sale in Nottingham, England

Commercial development for sale

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