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