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Mixed Use & Residential Investment, 13 Nottingham Road, Eastwood, NG16 3AP

2,572 Sq Ft / Retail / Investment

For Sale - £335,000.00

Available - Last updated: 21 June 2022

The property comprises a two-storey building probably erected 100 to maybe 120 years ago, consisting of a ground floor retail shop, now occupied for use as a public house, together with three flats on the upper floors approached via a separate side access.

The property is of solid brick construction under a pitched slate roof with UPVC windows throughout. In recent years the property has been extensively modernized.

The ground floor is currently let to a private individual trading as The Dog & Parrot, who has traded successfully throughout the pandemic and have always paid their rent promptly. They have been in occupation since 2017.

The upper floor accommodation now consists of two one bedroom flats and one two-bedroom flat. All are currently let at a rent of £475 pcm, with an ERV of £500 pcm.

Location

Nottingham is a major provincial city in the East Midlands in terms of retail, education, office and industrial uses. Eastwood lies within the Nottingham conurbation. It is a small town situated approximately 8 miles north-west of Nottingham, 15 miles north-east of Derby and 18 miles south-west of Mansfield.

The property is situated close to the western end of Nottingham Road, at its junction with both Church Street and Mansfield Road. The main shopping facilities are centred upon Nottingham Road to the east. The section of Nottingham Road where the property is located is occupied by a proliferation of bars and restaurants, thus enhancing the location of the subject premises. In recent years a major supermarket and car parks were constructed to the west of the subject property, thus anchoring this end of the town.

Major occupiers represented on Nottingham Road include Peacocks Ladies Wear, Iceland Foods, Specsavers, Heron Frozen Foods, Boyes Department Store, Maxisaver, Birds, Tui Travel and Greggs. There are also branches of TSB and HSBC banks and two betting shops operated by Ladbrokes and Betfred. To the rear of the property there are Local Authority Pay & Display car parks.

Accommodation

The accommodation of the property is as follows:-

13 Nottingham Road (GF) - 135 sq m (1,453 sq ft)

Flat 1 – 1 bed - 33 sq m (355 sq ft)

Flat 2 – 1 bed - 33 sq m (355 sq ft)

Flat 3 – 1 bed - 38 sq m (409 sq ft)

Total - 239 sq m (2,572 sq ft)

Terms

Tenure - Freehold.

EPC's and ASTs:

GF Public House - D-79

Flat 1 - C-69

Flat 2 - D-65

Flat 3 - D-58

Copies of EPCs, ASTs and lease are available upon request.

Price - Offers are invited over £335,000 to show an initial yield of 9.25% gross and a reversionary yield of 9.61% before allowance for costs.

VAT - VAT is not applicable to this sale. 

Legal Costs - Each side to be responsible for their own legal costs. 

Specification

  • Semi-detached property on a prominent site
  • Comprising a public house and three residential apartments
  • Good location in the heart of Eastwood
  • Offers invited over £335,000 to show a gross yield of 9.25% and a reversionary yield of 9.61% before costs

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
Offers invited over For Sale Freehold £335,000.00 NA

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Contact agents

Noel Roper

FHP Property Consultants

0115 882 1132



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