Key Information
- New 250 year ground rent at a peppercorn
- Subject to a sub-lease for the full term to the East Midlands Police & Crime Commissioners at a passing rent of £6,882 per annum subject to annual RPI linked upward only rent reviews
- Offers in excess of £135,000 (NIY 5%)
- Offers in excess of £135,000 are sought which reflects a net initial yield of 5%.
The property comprises a site upon which the sub-tenant has constructed a meter house to accommodate an electricity supply plant room which serves a nearby office building and lab occupied by the East Midlands Police Forces. The approximate extent of the site is outlined in red on the plan below.
Location
Sherwood Park is a 200 acre business park accessed directly from the A608 adjacent to Junction 27 of the M1 motorway. The Park is located approximately 11 miles north of Nottingham city centre and 7 miles south of Mansfield. The Park is home to a thriving business community of headquarter office buildings, leading edge manufacturing facilities, call centres and mixed occupancy offices. It has been chosen by many well known companies such as Rolls Royce, Pendragon, Countrywide and L'Oreal. The Park is easily accessible by car and also benefits from public transport links with regular bus routes to and from the Park linking Nottingham, Derby, Mansfield, Hucknall and Ilkeston.
VAT
The property is elected for VAT. The sale should qualify for TOGC treatment for VAT purposes, but no warranty is given to that effect and buyers should take independent legal or accountancy advice.
Viewing
The property is available for external inspection.