Sold
Nottingham – City Centre Multi-Let Retail Investment With Redevelopment Potential
Units 1-8 Exchange Walk & 5-7 St Peter’s Gate, Nottingham, NG1 2NX
Offers in excess of £5,200,000
- Property Type:
- Commercial
- Sub Type:
- Retail
- Tenure:
- Freehold
- Net Initial Yield:
- 9.4%
Income
£521,750
Description
- Nottingham is a historic city and the regional capital of the East Midlands
- Prominently situated in the heart of Nottingham City Centre on a high-footfall pedestrianised High Street
- A parade of seven self-contained units totalling 1,855.9 sq m (19,977 sq ft)
- Fully occupied with 78% of income secured to desirable national brands including Burger King, Co-Operative Bank, C.E.X. and Card Factory
- Passing Rent of £521,750 p.a., reflecting a maximum Zone A level of only £116 psf
- Average unexpired term of 7.8 years (4.4 years to breaks)
- October 2020 lease renewal completed with several ongoing asset management initiatives
- Medium term and significant re-development potential to alternative uses, in particular residential, subject to necessary consents
- Freehold