Savills Property Auctions | Land and buildings at the junction of Arnot Hill Road and Nottingham Road, Arnold, Nottingham, Nottinghamshire NG5 6LF

May 2022: Tuesday 10 May 2022 - 9:00am

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Key features

Investment Let at £82,860 p.a. (10.42% on Guide Price)
Prominent corner shopping parade fully let to established independent retailers
Comprises approximately 518.95 sq m (5,586 sq ft)
In the same ownership for over 20 years
Nearby occupiers include Wilko (located opposite), Wetherspoons, Oxfam, Poundland, WHSmith and Peacocks

Description

The property is a 2 storey corner building comprising of 4 retail units on the ground floor, a retail unit located across most of the 1st Floor and 6 garages to the rear.

The ground floor retail units are occupied by an Italian restaurant (with a flat on the first floor), Bathroom show room, Carpet show room and Dog grooming salon.

The 1st floor is occupied by a Gym and flat (within the curtilage of the restaurant at 98/100 Nottingham Road).

The garages to the rear are let to the existing tenants on the ground floor with one becoming vacant on the 1st April 2022

Near by occupiers include Wilko (located opposite), Wetherspoons, Oxfam, Poundland, WHSmith and Peacocks.

Additional information

Tenure

Freehold

Accommodation

The below measurements have been taken from the VOA any purchaser must rely on their own enquiries

98/100 Nottingham Road - Approx. 1,057 sq ft ( 98.2 sq m) Upstairs flat not included in this measurement

102 Nottingham Road - Approx. 957 sq ft (89 sq m)

2 Arnot Hill Road - Approx. 447 sq ft (41.6 sq m)

4 Arnot Hill Road - Approx. 533 sq ft (49.6 sq m)

Bonnington Chamber Arnot Hill Road - Approx. 2,572 sq ft (239 sq m)

Tenancy

98/100 Nottingham Road - Trading as Luigis (Italian Restaurant)

Let on 10 year lease from 24/06/2015
Investment let at £23,000 p.a.

102 Nottingham Road - Trading as C&S commercial services Ltd (Bathroom Show room)

Let on 3 year lease from the 08/07/2020
Investment let at £12,000 p.a.
Fixed rent increase to £16,000 on the 01/08/2022

2 Arnot Hill Road - Trading as The Little Carpet Company (Carpet Show room)

Let on a 5 year lease from the 26/12/2021
Investment let at £12,000 p.a.

4 Arnot Hill Road - Trading as Dogz (Dog grooming Salon)

Let on a 5 year lease from 01/04/2021
Investment let at £10,000 p.a.
Fixed rent increase to £12,000 p.a. from the 01/04/2023

Bonnington Chamber Arnot Hill Road (1st Floor)- Trading as Energie (Gym)

Let on a 5 year lease from 21/06/2017
Investment Let at £16,850 p.a.
Let on a 5 year lease from 21/06/2022
Investment let at £17,000 p.a.

Garage 1 - Investment let at £1,560 p.a.

Garage 2 - Previously let at £1,560 p.a. - Please note it will be vacant from the 1st April 2022

Garage 3 - Investment let at £1,300 p.a.

Garage 4 - Rented to Gym included in the above rent

Garage 5 - Rented to the Bathroom Show room included in the above rent

Garage 6 - Rented to the Restaurant included in the above rent

Please refer to the legal pack to confirm the above - please note that there is no written tenancy agreements for the garages

Rent

Total current rent £82,860 per annum

Notes

Please note the site areas provided are approximate. The photos and red line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.

Under the terms of the leases, a number of tenants have fixed rent increases in June & July 2022 and in 2023. The vendor has agreed to adjust the completion monies so that the property produces £82,860 p.a. from the completion date until the start date of the fixed rent increases. Please see Special Conditions of Sale.

VAT is applicable and the sale of the property can be treated as TOGC (Please refer to the legal documents)

Contact

The property is located on the junction of Arnot Hill Road and Nottingham Road in the Town of Arnold. Arnold is situated approximately 3.6 miles North East of Nottingham City Centre.

Nottingham Station an approx. 4.2 miles from the site.

Transport

Nottingham Station - East Midland Railway services to London St Pancras, Derby, Leeds, Sheffield, Birmingham New Street and Liverpool Lime Street.

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If no EPC rating appears please refer to the legal pack.

•Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

•The reserve price is the minimum price at which the property can be sold.

•Both the guide price and reserve price may be subject to change up to and including the day of the auction.

•For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

Please note that all prices listed, whether prior to or post auction, are subject to contract.

The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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