FREEHOLD, MULTI LET OFFICE INVESTMENT
• Situated in the Lace Market in Nottingham city centre
• Period, Former Mill building built in 1871
• Rare, unbroken block with a variety of asset management opportunities
• Arranged over basement, ground and four upper floors
• Total accommodation of 1,470 sq m (15,823 sq ft) excluding full cover basement
• 10 on site car parking spaces
• 66% occupied to a range of occupiers with an average unexpired lease term of three years
• Total passing rent of £89,507.65 per annum
• Opportunity to reposition the building or consider conversion to residential, subject to planning.
• Medium term development opportunity (subject to planning) for alternative uses such as PBSA
• Site area of 0.27 acres
• The property is held freehold.
We are instructed to seek offers in excess of £1,550,000, subject to contract and exclusive of VAT. Assuming purchaser's costs of 6.12%, this reflects the following:-
- Net Initial Yield: 5.44%
- Capital Value: £98.00 per sq ft
