Key Information
- £350,000
- NIA 3,379 sqft (313.89 sqm) across 5 floors
- Nearby national retailers include M&S, Sainsbury's, Halifax and Specsavers
- Redevlopment opportunity, subject to relevant planning consents
- £350,000
The property comprises a substantial Grade II listed, 5 storey premises, with a self-contained double fronted ground floor retail unit with basement storage. There is a central internal staircase which provides access to the ancillary first, second and third floors. This space is cellular in nature and provides storage space, ancillary office space as well as toilet facilities.
Location
The subject property is located within the heart of Nottingham City Centre, on the section of Hounds Gate that runs from Maid Marian Way to St Peters Square. The immediate locality has a mix of retail, office, residential and leisure accommodation. The premises lies in close proximity to a number of national retailers with neighbouring occupiers including M&S, Specsavers, Sainsbury's, Blacks and Halifax. The property also benefits from multiple public transport links being within walking distance of Nottingham Railway station and NET Tram line as well as numerous bus services. Nottingham has one of the largest student populations within the UK and is home to two Universities and boasts a strong overall student population of over 70,000 students, with the largest pipeline of student accommodation outside of London.
VAT
All figures quoted are exclusive of VAT. The property is not elected for VAT.
Rates
Property Description: Shop & Premises Rateable Value: £29,750 Rates Payable: £14,845.25 (based on the small business rates of 49.9p, effective until March 2024). All retail, leisure and hospitality users will be entitled to 75% discount from April 2024 (subject to a £110,000 per annum per business), this will change to 40% discount from April 2025. (Source: VOA)
EPC
The premises have an EPC assessment of F-131
Legal Costs
Each party is to bear their own legal costs incurred.
Accommodation
Measurements are quoted on a Net Internal basis in accordance with the RICS Property Measurement First Edition.
Planning
We understand the property benefits from planning consent for Use Class E (Commercial, Business and Services use) under the Town and Country Planning (Use Class) order 1987 as amended, The building is Grade II listed (no. 1254607) and falls within Nottingham's Market Square Conservation Area. (This information is given for guidance purposes only and prospective parties are advised to make their own enquiries of the local authority).
Viewing
Viewings are by appointment with sole agents Innes England