- Reference: F221122K
- Type: Investment
- Status: For Sale
The investment property is located on the main High Street in Arnold, a popular Suburb of Nottingham, Arnold is located off the main A60, 3-miles due North of Nottingham City Centre.
Nottingham is well positioned within the Midlands, with an estimated population of circa 280,000, the city can be accessed from 3 exits from the M1 (J24 in the South Via the newly built dual carriageway A453, J25 via the A52 at Derby, and J26 Via the A610 to the North) The A453 junction to the South of the City leads to Kegworth and Castle Donington, ideal for Nottingham East Midlands airport and Donington Racetrack.
A substantial brick-built property under a pitched slate roof, with rendered frontage. The property has had significant capital expenditure over recent years. The current tenants have added a large glass sided and covered addition to the rear, providing a landscaped alfresco indoor/outdoor dining space.
The trading areas are set out over the ground and first floor areas, with open feature staircase and galleried first floor. Ground floor main central bar servery, with takeaway kitchen, and main kitchen areas. Ladies and gents w/cs, and accessible ground floor w/c.
The outside area to the rear is a newly built glass sided and covered area with outdoor heating and raised seating area.
Total indoor covers circa 100
Total outdoor covers circa 40
The 2nd floor offers a one-bedroom studio flat with shower and w/c - this could also be a manager's office if accommodation isn't required.
We are advised that all main services are connected to the property. These services have not been inspected or tested by the agent.
Offered for sale freehold and subject to the lease.
The property is let to private individuals trading as Istanbul Restaurant.
A 15-year lease commenced 27th February 2020 at an initial passing rent of £40,000 per annum.
The lease has 5-yearly break clauses and 3-yearly rent reviews.
The investment is being offered for sale at an asking price of £625,000.
We are advised that the property has not been elected for VAT.
Both Parties will be responsible for their own legal costs.
An early discussion about finance can often save time and disappointment, talk to LLH Solutions about securing independent financial advice from one of our solution partners.
Strictly by appointment with the vendors sole selling agents. Tel: 01780 435072 Email firstname.lastname@example.org You are recommended to contact us in the first instance prior to visiting the property even for an informal viewing.