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Investment Property

Nottingham, Nottinghamshire
Freehold Price:
£275,000
Status
FOR SALE
Advert ID
245727
Reference
B05360 / Rightbiz
Business
Hilton Smythe welcomes to the market the Alfreton Road Property Investment opportunity.

The site has been owned by the current operators for over 5 years in which time it has established a reliable and regular investment income from the 4 key income streams currently available at the site.

The property is spread across three levels incorporating a ground floor sandwich Bar, a catering kitchen located to the rear and two self-contained apartments to the first and second floors.

The first and second floor apartments have constantly been let out to mature students/nurses & PHD students all assigned to 12-month AST agreements with many tenants staying on for a number of years. The ground floor sandwich shop is currently occupied by a successful operator running a popular business currently on a 3 Year lease with 2 years remaining and has already expressed a keen desire of extending the current lease arrangement.

The catering kitchen to the rear is currently being occupied by the vendors who have already secured an interested part to take this site on once they have moved their current catering activities elsewhere. The surrounding properties are currently undergoing major refurbishments which will greatly benefit this property with the construction of new boundary walls to the rear along with a freshly resurfaced and landscaped driveway and parking bays to the rear.

The site is in a very sought-after location and generates a healthy yield on investment with multiple income streams reducing the risk of void periods.

An excellent Investment Opportunity.



Location
Situated at the top end of Alfreton Road in Nottingham City Centre.


The Investment opportunity is just a short stroll from the City centre and is located just opposite the Park and Ropewalk area of the City with excellent road network links and accessibility to all the City’s amenities.




Premises
Three storey terraced style property in a sought-after location.

Ground floor sandwich bar with a large cellar, rear storeroom and WC. Lock-up/fully fitted catering kitchen to the rear which subject to local planning consents could easily be converted into an additional studio apartment.

First and second floor apartments consist of a double bedroom/living area, shower room and kitchen diner. Parking space to the rear.



Tenure
We are advised the business is being sold as a Freehold opportunity with a guide price of £275,000



Hours
N/A



Staff
N/A



Financial Profile
The investment opportunity currently generates the following rental income:

Sandwich Bar £6,000 per annum

Studio 14a £7,200 per annum

Studio 14b £6,720 per annum

Catering Kitchen/Lock up/Potential additional studio – The vendors are aiming to secure a new tenant for this space with rent anticipated to be in the region of £5,000 - £6,000 per annum.

The current yield is in the region of 7.2% with the addition of a new tenant to the ground floor the yield will increase to 9% we also anticipate a strengthening of values within this area which is undergoing further investment.



Seller Details
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Listing Details
Freehold Price: £275,000
Tenure: Freehold
Location: Nottingham, Nottinghamshire
Sector: Investment Properties, Estate Agents
Financials
Annual Turnover: £20,000
Location Statistics
What's nearbyi:
Fat Sounds (approx. 0 mile)
Wakefields Interiors (approx. 0 mile)
New Leaf Stop Smoking Service Nottingham City (approx. 0 mile)
Infinity Lettings (approx. 0 mile)
Daniel Evans-Pughe (approx. 0 mile)
ssh wardrobes (approx. 0 mile)
St Josephs Independent School and Nursery (approx. 0 mile)
Britannia Nottingham Hotel (approx. 0.2 mile)
Forster Street Play Area (approx. 0.8 mile)
Justvivo Repatriation (approx. 0.8 mile)
Listing Statistics
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