Carlton Business and Technology Centre is a three storey former girls school constructed in approximately 1896 from solid brick under a pitched slate roof and
set over three storeys with ground floor, sub-basement and first floor.
The building ceased to be used as a school in 1978 and in 1990 it was comprehensively refurbished and converted into a business centre by Gedling Borough Council. It was subsequently purchased by the current tenant owner and further modified.
The property benefits from substantial surfaced car park with approximately 44 defined car spaces and approximately 10 ancillary parking positions.
The centre provides flexible accommodation with 25 suites ranging from 120 sq ft to 1,260 sq ft finished to a good specification.
Further amenities include various meeting rooms and the property is fully DDA compliant.
100% Occupancy - with the exception of Ostomart, whose lease is for a term of 5 years expiring 31 March 2017, the balance of the tenancies are on rolling three month licences.
For full tenancy details please see attached PDF.
Location
Carlton is located approximately 5.3 km (3.3 miles) to the north east of Nottingham city centre and can be easily accessed via Carlton Hill (B686) or the Colwick Loop Road (A612).
Carlton is directly linked to The Midland Mainline (London St Pancras 1 hour 45 minutes), Nottingham East Midlands Airport provides direct flights to 90 nternational
destinations and the city’s modern tram system carries an estimated 9.5M passengers every year.
The property occupies a prominent corner site at the junction of Station Road and Wallace Avenue lying to the north of Carlton mainline station within a predominantly residential district.
Nearby occupiers include Good Foundations Day Nursery and Carlton Nottinghamshire Fire & Rescue Service. Victoria Retail Park is within close proximity.
Accommodation
Measured in accordance with the RICS Code of Measuring Practice (6th Edition), we calculate the property provides the following net internal area:
1,651.822 sq m (17,780 sq ft)
This includes ancillary areas and of this approximately 1,125.99 sq m (12,120 sq ft) comprises office suites.
Terms
TENURE
The property is held freehold.
RATEABLE VALUE
All tenants are responsible for their own Business Rates.
EPC
The property has the following EPC Rating: E 113
VAT
VAT is applicable at the prevailing rate.
PRICE
Offers are invited in the region of £850,000, reflecting a net initial yield of 14.45%, subject to contract exclusive of VAT assuming standard purchasers costs at 5.8%.
Specification
- Prominent building.
- Close to Nottingham City Centre
- Flexible accommodation.
- 100% occupancy.
- Development potential (STPP).
- Substantial opportunity to increase yield.