Key Information
- 1,249 sq ft (116.05 sqm)
- Mixed-use premises wih retail unit and residential use
- Ground floor retail unit let at £6,700 per annum (£558.33 pcm)
- 3 Bed upper floor apartment with scope for extension (STP)
- £225,000 for the freehold of the property.
The property comprises of a four-storey building of traditional brick construction under a pitched roof and currently comprises of a ground floor retail unit and residential flat on the first, second and third floor. At ground floor, there is a retail unit that consists of an open plan sales space along with a tea point area and WC to the rear of the building. The unit is currently let to private individual paying £6,700 per annum. The upper floors comprise of a 3-bedroom flat, with a separate internal staircase accessed from the rear of the building on Marshall Street, with the entrance leading up to the living room, kitchen and bathroom. The second floor is split across two bedrooms, whilst the third floor provides an additional bedroom. Externally, to the rear of the property there is a dedicated car parking space, and garden for the upper floor apartment allowing for the opportunity for a rear extension of the building, similar to the works that have occurred on neighbouring buildings.
Location
The property is located on Mansfield Road (A60), on the periphery of Nottingham city centre within an established residential and commercial area. Mansfield Road (A60) is a principal arterial route providing access to Junction 26 of the M1 motorway located c.4.5 miles northwest. The property benefits from excellent transport links with several bus routes running into and out of the city along Mansfield Road. Nearby commercial occupiers along Mansfield Road consist of a number of independent boutique shops along with national occupiers including Sainsbury's, The Gym Group and Wetherspoons.
VAT
To be confirmed.
Rates
From the Valuation Office Agency (VOA) website we understand the ground floor has the following rating assessment: Rateable Value - £7,900 Indicative Rates Payable 2023/2024: £3,942.10 per annum Please note the Tenant pays the business rates. Some parties may benefit from small business rates relief and be exempt from paying any business rates however it is advised all parties confirm with the Valuation Office Agency (VOA).
EPC
The EPC assesments are as follows: Ground floor: - C(66) First/Second floor: - D(60)
Legal Costs
Each party is to bear their own legal costs incurred.
Accommodation
The ground floor measurements are quoted on a Net Internal basis in accordance with the RICS Property Measurement Second Edition. Whilst the Upper Floor flat is measured on a Gross Internal basis in accordance with the RICS Property Measurement Second Edition. All parties are advised to carry out their own measurements.
Planning
We understand the property has been utilised for the following uses: Ground floor: Class E (Commercial, Business and Services use). Upper floor apartment C3 (Dwelling houses). (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