Key Information
- 817 sqft (79.9 sqm) ground floor sales area
- Fitted out as a hot food takeaway ready to trade
- Suitable for a variety of uses (STP)
- Opposite 125,000 sqft Marks & Spencer fashion and foodhall
- £40,000 per annum exclusive.
The unit was most recently used as a hot food takeaway and the current fit out reflects this. The ground floor comprises a customer waiting area with seating, extraction canopy, spot lighting and air conditioning on the ground floor. The first floor, accessed via an internal staircase, provides staff areas and ancillary space, with further storage at second and third floors. The property benefits from a service yard to the rear.
Location
The property is located in Nottingham City Centre, the commercial hub of the East Midlands. The city itself is served with excellent public transport links, Nottingham Railway Station lies a short walk from the subject property, providing national rail links and a direct route to London St Pancras (1hr 36 mins) as well as a frequent tram service connecting Nottingham City Centre to the surrounding conurbations of Beeston, Clifton, Wilford, Bulwell and Hucknall. Nottingham has excellent links to national road infrastructure with Junctions 24, 25 and 26 of the M1 Motorway no more than 10 miles to the west The property is located on Albert Street, which with the adjacent Lister Gate, forms one of the dominant high street retail pitches in Nottingham City Centre. This pitch connects Nottingham's Historic Market Square to the south side of the city, including the Broadmarsh Redevelopment site. Recently purchased by Homes England, the site aims to provide 1,000 homes and 20,000 sqm of retail, office and community space. A £25m, state of the art NHS Community Diagnostic Centre is currently under construction in the former Broadmarsh retail units along Lister Gate, with plans to open in 2026. Nearby occupiers consist predominantly of large national retailers which include; Marks and Spencer, Scribbler, Hotel Chocolat, Sketchers, Sports Direct, Flannels and Greggs. Superdry are currently fitting out their new premises on the corner of Lister Gate and Low Pavement.
VAT
All figures quoted are exclusive of VAT. The property is registered for VAT and will be applicable at the prevailing rate.
Service Charge
The tenant is responsible for a fair portion of the costs of the upkeep of the common areas and maintenance of the building
Rates
Property Description: Shop & Premises Rateable Value: £45,000 Rates Payable: £22,455 (based on the small business rates of 49.9p, effective until March 2026). This will come into effect from April 2023. All retail, leisure and hospitality users will be entitled to 40% rates relief or rates payable up until April 2026 (Source: VOA)
EPC
The premises have an EPC assessment of C-75
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 Second Edition.
Planning
We understand the property benefits from planning consent, under Town and Country Planning (Use Classes) Order 1987 (as amended), for the following uses: Class E (Commercial, Business and Services use). The retail parade has a planning consent for hot food takeaway use (Class A5). Making the premises suitable for uses such as a shop, cafe, restaurant, hot food takeaway, office, clinics, health centre and day nurseries. (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 Innes England or our joint agent: FHP Tel: 0115 950 7577