Key Information
- NIA: 4,774 sq ft (443.53 sqm)
- Prominently located bar/restaurant opportunity in busy Nottingham suburb
- Fitted out to a high standard with an extensive beer garden to the rear
- Fully let to a private individual with a passing rent of £44,000 pax providing a NIY of 7.04%
- The Freehold is available to purchase for £595,000, reflecting a Net Initial Yield (NIY) of 7.04%.
The property is comprised of a number of retail units that have been combined and then extended to form one large unit which is currently fitted out to a high standard as a restaurant/bar with a commercial kitchen. The first floor is a mezzanine providing further restaurant seating & WC's as well as live-in managers accommodation to the front of the first floor. The property benefits from air conditioning throughout. To the rear of the property, there is an extensive beer garden which provides access to the rear public car park. The property also benefits from a small car park/yard to the rear for staff of the restaurant.
Location
The property lies in a prominent position on High Street and is within close proximity to Front Street, in the Nottingham suburb of Arnold, which is one of Nottingham's larger suburban areas and is approximately 5 miles North of the City centre. Front Street represents the prime retail strip in Arnold with nearby occupiers including B&M, WH Smith, Birds Bakery and Greggs. The property is well served by road communications with easy access to the A60 and Mansfield Road, one of the main arterial routes into the city centre and to the North. The property also benefits from good transport links with multiple bus services providing access in and out of Nottingham City Centre, as well as the surrounding suburbs of Nottinghamshire.
VAT
VAT is not applicable.
Rates
From enquiries of the Valuation Office Agency (VOA) website we understand the business rates are as follows: Rateable Value 2024/2025: £36,000 Indicative Rates payable 2024/2025: c. £17,964 Please note the Tenant pays the business rates. (This information is given for guidance purposes only and prospective tenants are advised to make their own enquiries with the VOA)
EPC
The premises have an EPC assessment of: B-34.
Legal Costs
Each party are to bear their own legal costs.
Accommodation
Measurements are quoted on a Net Internal basis in accordance with the RICS Property Measurement Second Edition. All parties are recommended to carry out their own measurements.
Planning
We understand the property benefits from planning consent for the following uses: - Class E (Commercial, Business and Services use), making the premises suitable for uses such as offices, shop, cafe, restaurant, clinics, health centre, day nurseries. The property may be suitable for alternative uses subject to the requisite consents. (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