The property comprises one half of a semi detached building, erected probably 25 30 years ago by a local Nottingham based builder. The property is of steel frame construction with brick external walls and a pitched slate roof.
Internally the property is in clear space and has been fitted out to Ladbrokes’ specification.
Location
Nottingham is located 30 miles north of Leicester, and 51 miles north east of Birmingham. The City is situated at the intersection of the A60 and A52, giving direct access to the M1.
Nottingham has a high proportion of young adults aged 15 to 24. In contrast the retired age of 65 and over is moderately under represented.
The area of Stapleford is a mixed residential and industrial area lying approximately 6/7 miles due west of Nottingham City Centre. It is relatively close to Junction 25 of the M1 Motorway.
The shopping facilities for Stapleford and the surrounding area are centred upon Derby Road which runs in a south westerly direction with its junction with Toton Lane and Church Street, connecting up eventually with Station Road.
This property is situated on the western side of Derby Road midway along its length. The majority of occupiers are relatively local or regional. Such names include Birds Confectionery, Greggs, Poundstretcher, Card Factory, Sainsburys Local together with some local estate agents and a number of public houses.
Currently there are virtually no vacant retail units within the immediate vicinity and there are no properties currently To Let .
Accommodation
Ground Floor Sales - 935 sq ft
ITZA - 620 sq ft
First Floor - 219 sq ft
Terms
Lease
The property is held on a full repairing and insuring lease to Ladbrokes Betting & Gaming Limited for a term of 15 years from 23 rd January 2012 expiring on 23 rd January 2027. The current rent passing is £XXX per annum. A copy of the lease is available upon request.
Rental Evidence
The current rent passing equates to £XXX Zone A, with £XXX on the first floor. This is supported by the letting which we carried out in 2019 of the adjacent property occupied by Card Factory.
Tenant Covenant
We have made enquiries of Experian concerning the credit worthiness of the tenant.
- Risk score - 99/100
- Credit limit - £XXX
- Credit Rating - £XXX
- Risk - very low risk
We consider that this covenant is extremely secure, bearing in mind the above information.
Tenure
Freehold.
Price
Offers are invited in excess of £XXX to show a yield of 6.94%.
VAT
The property has been elected for VAT. The sale will therefore be as a TOGC.
Identity Checks
In order to comply with Anti Money Laundering Legislation, the successful purchaser will be required to provide identification documents, including a current passport or driver’s licence and utility bill.
EPC
A copy of the EPC is available upon request.
Legal Costs
Each side are to be responsible for their own legal costs.
Specification
- Realistic Rent at £XXX per annum
- Lease Expiry January 2027 – 5.5 years unexpired
- Modern Building
- Excellent Covenant
- Offers over £XXX to show 6.94% net of costs