Warning - This property listing has now expired.

Any changes made to the content of this listing WILL NOT BE SAVED. However, you can still change the property status (i.e. available/sold/let etc).

To renew this property or for further assistance please call 01767 313380 or email renewals@novaloca.com.

Property unavailable

This property advert is no longer active. It is possible that the same property has been re-advertised under a separate listing, click below to view any replacement or similar listings.

Please note we do not have names or contact details of anyone currently occupying this building we are also unable to provide details of the agents that posted the original advert with us.

If you are the owner of the building and would like to re-post this advert please email renewals@novaloca.com

If you would like to know if this, or any similar property comes back or on to the market please click here to get updates by email.

Excellent Retail Investment, 66 and 68 Main Street , Bulwell, NG6 8EX

4,540 Sq Ft / Retail / General Retail

Sold - Last updated: 26 May 2020

The property comprises a modern retail premises arranged over ground and first floor originally constructed around 30 35 years ago.

The building is of 10.5 inch brick and blockwork construction. The roof to the front section is pitched, surfaced with imitation slates and the rear is flat finished with asphalt.

The ground floor consists of two retail units, one of which is occupied by Cancer Research who have been in occupation for many years and the other unit has recently been let to British Heart Foundation.

The first floor is occupied in its entirety by the British Heart Foundation which is accessed via a staircase to the rear of the ground floor premises.

Both shops benefit from access to a rear service yard which is currently used as a drop off point for donations.    

Location

Bulwell is a busy market town, located approximately 4 miles to the north west of Nottingham City Centre and 11 miles south of Mansfield. It benefits from excellent Tram and Train services linking to Nottingham City Centre.

Bulwell has a resident population of 30,000 persons and the town comprises a mix of national, regional and independent retailers including; Wilkos, Boots, Superdrug, Costa Coffee, Iceland, Tui Travel, Farmfoods, Martin’s Newsagents, Birds and Greggs to name a few.

The property lies on the prime section of Main Street, Bulwell, which benefits from high levels of footfall and is situated within close proximity to the Market Place.

Accommodation

The properties comprise the following net internal areas;

66 Main Street

Ground Floor Sales - 138.32 sq m (1,489 sq ft)

Ancillary - 17.37 sq m (187 sq ft)

ITZA - 72.62 sq m (782 sq ft)

First Floor - 84.04 sq m (905 sq ft)

Total - 239.72 sq m (2,580 sq ft)

68 Main Street

Ground Floor Sales - 182.06 sq m (1,960 sq ft)

ITZA - 79.99 sq m (861 sq ft)

Total - 182.06 sq m (1,960 sq ft) 

Terms

Tenure - Freehold.

Tenants Covenant - Both tenants enjoy excellent credit ratings. The relevant information via Experian is as follows;

British Heart Foundation

Score: 100/100
Risk: Very low risk
Credit limit: £XXX
Credit rating: £XXX

Cancer Research UK

Score: 100/100
Risk: Very low risk
Credit limit: £XXX
Credit rating: £XXX

Copies of the Experian Credit Checks are available upon request.

Tenancies:

66 Main Street

The ground and first floor are let to British Heart Foundation for a term of 10 years from 30/05/2018, expiring on 29/05/2028, at a rent of £XXX per annum. The rent is subject to review in May 2023. There is a tenant break option as at 30/05/2023, subject to 6 months notice.

68 Main Street

The ground floor was subject to a lease renewal with Cancer Research UK for a new term of 10 years from 08/03/2019, expiring on 07/03/2029, at a rent of £XXX per annum.  The rent is subject to review in March 2024.  There is a tenant break option as at 07/03/2024, subject to 6 months notice.

Copy leases are available upon request.

VAT and Costs - Each side are to be responsible for their own legal costs. VAT is applicable at the prevailing rate. The sale will be as a TOGC.

Price - The properties are available freehold, subject to the existing leasehold interests, at offers in excess of; £XXX (Six Hundred and Ninety Five Thousand Pounds) reflecting a net yield of 7.92%.

Rental Evidence - Our analysis of the rents for British Heart Foundation is a headline figure of £XXX and a net of £XXX The figures for Cancer Research based upon their lease renewal as at March 2019 is £XXX Zone.

In our opinion the tone of rental values is circa £XXX Zone A.

It should be noted that British Heart Foundation were granted 7 months rent free from May 2018 due to the extensive strip out works of the previous tenants  occupation being the Yorkshire Bank, that period has now expired. 

Specification

  • Current income £XXX per annum
  • Realistic rents - £XXX - £XXX Zone A
  • Let to excellent tenants with more than 4 years term certain
  • Modern building providing good open retail space
  • Offers are invited in excess of £XXX to show 7.92% net of costs


Email me updates about similar new properties


Show similar properties

Contact agents

Thank you for your enquiry

The agent for this property will get back to you as soon as possible.

Would you like to view similar properties now?

Many thanks, your enquiry has been sent to the agent

In response to the boxes you ticked, we'd like to send you emails about new & updated properties based on the following (please amend as required):


Please note, NovaLoca will only contact you about commercial property & you can unsubscribe at any time. Your information will not be given to third parties without your permission. For more information please refer to our privacy policy.