Let on renewed 5 year lease to The First Secretary of State
Located on Established Purpose Built Office Park
1 mile west of Nottingham City Centre
Future Development Potential (subject to consents)
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 27
Auction 30th March 2017
Rent £128,500 per Annum Exclusive
Status Sold
Price £1,550,000
Sector Office
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of a Major Fund Manager
Property Information
Location
Miles
1 mile west of Nottingham city centre, 29 miles north of Leicester, 38 miles south-east of Sheffield
Roads
A6005, A52, A60, M1 (Junction 26)
Rail
Nottingham Railway Station
Air
East Midlands Airport
Situation
The property is situated on an established purpose built office park 1 mile west of Nottingham City Centre just off Castle Boulevard (A6005), which offers direct access to the City Centre. The surrounding area is mixed use, providing office and residential uses, along with numerous retailers such as Laura Ashley and Multiyork Furniture. Castle Marina Retail Park, accessed via a nearby walkway, is located to the south of the property and houses occupiers including Currys, DFS, Pets at Home, Carpetright and Costa Coffee. Castle Quay is home to occupiers including St James’ Place Wealth Management, Tramlink Nottingham and Heart Internet. A number of new residential schemes have been built along Castle Boulevard, including Castle Point, an exclusive luxury development.
Tenure
Freehold.
Location
Miles
1 mile west of Nottingham city centre, 29 miles north of Leicester, 38 miles south-east of Sheffield
Roads
A6005, A52, A60, M1 (Junction 26)
Rail
Nottingham Railway Station
Air
East Midlands Airport
Situation
The property is situated on an established purpose built office park 1 mile west of Nottingham City Centre just off Castle Boulevard (A6005), which offers direct access to the City Centre. The surrounding area is mixed use, providing office and residential uses, along with numerous retailers such as Laura Ashley and Multiyork Furniture. Castle Marina Retail Park, accessed via a nearby walkway, is located to the south of the property and houses occupiers including Currys, DFS, Pets at Home, Carpetright and Costa Coffee. Castle Quay is home to occupiers including St James’ Place Wealth Management, Tramlink Nottingham and Heart Internet. A number of new residential schemes have been built along Castle Boulevard, including Castle Point, an exclusive luxury development.
Tenure
Freehold.
Description
The property comprises a detached office building over ground and first floors. The property provides future redevelopment potential (subject to consents). The property benefits from rights to parking.
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 detached office building over ground and first floors. The property provides future redevelopment potential (subject to consents). The property benefits from rights to parking.
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
Ground First
Office Office
6.70 sq m 631.30 sq m
(6,423 sq ft) (6,793 sq ft)
THE FIRST SECRETARY OF STATE t/a National Probation Office (1)
5 years from 25/03/2017 (2)
£128,500
24/03/2022
Totals
1,227.80 sq m
(13,216 sq ft)
£128,500
(1) The tenant has been in occupation since at least 1991. (2) The First Secretary of State will benefit from a 6 weeks’ rent free period which will expire on 06/05/2017. The seller has agreed to adjust the completion monies so that the unit will effectively produce £128,500 p.a. from completion of sale.
Contacts
Seller's Solicitors
Hamlins LLP Roxburghe House273-287 Regents Street London W1B 2AD
