Property for sale

53 Abbey Street, Lenton, Nottingham NG7

This three storey property is of traditional brick construction under a pitched roof. The demise comprises a ground floor retail unit with a self contained two bedroom apartment over the first and second floors.

Location

This property is situated along Abbey Street, approximately 2 miles south west of Nottingham city centre. The wider area is of mixed use, comprising a variety of residential, shops, café's, restaurants and professional services. The property benefits from excellent transport links with the A52, A6514 and Gregory Street tram stop close by.

Nottingham is a vibrant city in the East Midlands located approximately 110 miles north of London, 33 miles south of Sheffield and 45 miles north-east of Birmingham.

Description

This three storey property is of traditional brick construction under a pitched roof. The demise comprises a ground floor retail unit with a self contained two bedroom apartment over the first and second floors.

The ground floor retail unit is accessed directly from Abbey Street and comprises a main sales area to the front with storage and W.C to the rear.

The first and second floors are accessed via a separate entrance to the rear and comprises a fully fitted kitchen, shower room and living room on the first floor. There are two double bedrooms on the second floor and externally there is a courtyard to the rear.

Tenancy Information

There is currently a 10 year lease in place that expires on the 12th February 2035 at a passing rent of £18,500 per annum. There is a rent review on the 1st October 2026 and every third anniversary thereafter. Please note that the current tenant is in the process of assigning this lease to another party.

Please contact the agent for further information and a copy of the lease.

Accommodation

We have calculated the approximate net internal floor areas to be as follows;

Ground floor - 40.76 sq m (438 sq ft)
First floor - 45.71 sq m (492 sq ft)
Second floor - 37.52 sq m (403 sq ft)

Total NIA - 123.99 sq m (1,334 sq ft)

Services

We understand that mains gas, electricity, water and drainage are connected. None of the heating systems or any other plant and equipment have been tested by Commercial List and prospective purchasers must rely on their own investigations as to their existence and condition.

Business Rates

From enquiries made through the Valuation Office website, we understand that the following rating assessment applies;

Rateable value: £7,200

This property should be eligible for small business rates relief. However interested parties should make their own enquiries as to the amount of rates payable.

Council Tax

Council tax band - A

Terms

The property is for sale freehold with the current tenancy in place, we are inviting offers in the region of £230,000.

Epc

Energy ratings:

53 - C

Flat over 53 - D

Vat

We understand that VAT is not payable on the sale price.

Legal Costs

Each party to pay their own legal costs incurred.

Viewing

For an appointment to view or further information please contact;

Commercial List
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Agent Notes

These Particulars are believed to be correct, but their accuracy cannot be guaranteed, and they do not constitute an offer or a contract.