info@mussonliggins.co.uk
0115 941 5241
Property Summary
Description
The subject property comprises a four-storey property of traditional construction beneath a pitched roof covering. The property also includes PVC rainwater goods.
At ground floor level the property comprises of a commercial unit which is trading as the Whistle & Flute. The premises have comprehensively been refurbished as a bar which also includes a Manager’s flat to the rear of the premises which now extend into the caves with further seating areas available.
To the upper floors the subject property has been let to a Housing Association, who have converted these areas into 14 residential flats. Flats 1-9 are accessed via the Derby Road elevation whilst flats 10-14 are accessed via the Wollaton Street elevation.
Tenancy
Ground Floor
The premises are currently occupied on an informal basis, and currently operating as the ‘Whistle & Flute” bar at a current rent of £21,000 per annum.
Upper Floors
The upper floors are occupied by Places for People by way of a 40 year lease held on FRI terms expiring in September 2040.
The current rent for the premises is £11,500 per annum which is reviewable every 5 years but linked to no more than RPI or the Housing Corporation rent index. for the remainder of the lease.
Further details are avaliable upon request
Business Rates
Business rates information available upon request from the agents.
For further information regarding rates payable and small business rates relief, please contact Nottingham City Council.
Planning
We understand that the property has Planning Consent for its existing use.
For further information on planning and use, please Contact Nottingham City Council Planning Control Department.
EPC (Energy Performance Certificates)
A copy of the existing building’s Energy Performance Certificate can be obtained from the Agents
Terms
The premises are available to purchase either with the benefit of the occupational tenancies or alternatively with vacant posession of the upper floors.
Price
Offers are invited for the premises subject to the occupational leases.
Services
We understand that electricity and water are connected to the premises however we recommend that interested parties contact the relevant service providers to confirm this.
VAT
Prices are quoted exclusive of Value Added Tax (VAT).
Legal Costs
Each party will be responsible for their own legal costs incurred in this transaction.
Viewing
Strictly by prior appointment with the Sole Agents Musson Liggins Ltd.
The property is situated with frontage to Derby Road, a principal route out of Nottingham and close to Nottingham City Centre. The property also has a rear elevation to Wollaton Street. The centre of Nottingham is within 1/4 mile distance to the south east of the subject property. The area includes unique sole traders, plus the Nottingham Playhouse and St Barnabas Cathedral, along with small restaurants and bars.
The property is also within close proximity to Nottingham Trent University within 0.5 miles distance to the east, with many of the residential flats and houses within this location being used for student housing.
Main roads into the area include the A610 which provides direct access to Nottingham City Centre, with the A610 being one of the main arterial routes in and out of Nottingham City Centre and linking with Nottingham’s Outer Ring Road, the A6514, approximately 1 mile distance to the north west. The
A610 does continue and links with Junction 26 of the M1 Motorway located approximately 4 miles distance to the north west of the subject property.
