Majority let to Clinton Avenue Properties Ltd t/a BDO Accountants (with guarantee from Pannells LLP, D & B Rating 4A1)
Future residential redevelopment potential (subject to consents)
Approximately 1,869.75 sq m (20,126 sq ft) with versatile floor plates
Car parking for approximately 53 cars, providing a car parking ratio of 1:380 sq ft
Six Week Completion
Lot 14
Auction 27th March 2014
Rent £181,250 per Annum Exclusive
Status Sold
Price £1,475,000
Sector Office
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On Behalf of a Major Fund
Property Information
Location
Miles
1 mile north of Nottingham city centre
27 miles north of Leicester
34 miles south of Sheffield
Roads
A60, A6514, A610, A52, M1 (Junction 26)
Rail
Nottingham Railway Station
Air
East Midlands Airport
Situation
The property is located in a mixed use area, situated among residential housing and established offices/businesses, 1 mile north of Nottingham city centre.
Regent House is situated on the north side of Clinton Avenue, off Hucknall Road (A611) which connects with the A60 leading directly into the City Centre.
Tenure
Freehold.
Location
Miles
1 mile north of Nottingham city centre
27 miles north of Leicester
34 miles south of Sheffield
Roads
A60, A6514, A610, A52, M1 (Junction 26)
Rail
Nottingham Railway Station
Air
East Midlands Airport
Situation
The property is located in a mixed use area, situated among residential housing and established offices/businesses, 1 mile north of Nottingham city centre.
Regent House is situated on the north side of Clinton Avenue, off Hucknall Road (A611) which connects with the A60 leading directly into the City Centre.
Tenure
Freehold.
Description
The property comprises a substantial office building providing accommodation over ground, first and second floors with each floor benefiting from open plan floor plates. The accommodation benefits from suspended ceilings, raised floors and air conditioning. There are three separate entrances allowing for flexible occupation and the property benefits from a site area of 0.32 hectares (0.79 acres) providing car parking for approximately 53 cars.
The property may be suitable for alternative uses and future residential redevelopment potential (subject to consents).
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a substantial office building providing accommodation over ground, first and second floors with each floor benefiting from open plan floor plates. The accommodation benefits from suspended ceilings, raised floors and air conditioning. There are three separate entrances allowing for flexible occupation and the property benefits from a site area of 0.32 hectares (0.79 acres) providing car parking for approximately 53 cars.
The property may be suitable for alternative uses and future residential redevelopment potential (subject to consents).
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Part Ground, First & Second
Office
1,278.24 sq m
(13,759 sq ft)
CLINTON AVENUE PROPERTIES LTD (Guaranteed by PANNELLS LLP) (1) (t/a BDO Accountants) (2)
15 years from 09/01/2006
£181,250
08/01/2021
Part Ground
Office
591.51 sq m
(6,367 sq ft)
VACANT POSSESSION
Electricity Substation
99 years from 21/11/2005
Peppercorn
Totals
1,869.75 sq m
(20,126 sq ft)
£181,250
(1) For the year ending 31/03/2013, Pannells LLP (formerly PKF (UK) LLP) reported a turnover of £101,255,000, pre-tax profits of £18,667,000 and a total net worth of £34,607,000. (Source: www.riskdisk.com 21/02/2014) (2) BDO LLP merged with PKF (UK) LLP (now Pannells LLP) on 19th April 2013 and operates as one, under the BDO brand and as part of BDO’s International network. BDO International are the largest global accountancy organisation aimed at the mid-market, with revenues of over £6bn operating in 138 countries worldwide, employing 3,500 people across 24 UK locations. (Source: www.bdointernational.com 28/02/2014)
Contacts
Seller's Solicitors
Maclay Murray & Spens LLP One London Hall London EC2V 5AB
