Regent House Clinton Avenue Nottingham Nottinghamshire NG5 1AZ

Regent House
Clinton Avenue
Nottingham
Nottinghamshire
NG5 1AZ

Freehold Office Investment

Majority let to Clinton Avenue Properties Ltd t/a BDO Accountants (with guarantee from Pannells LLP, D & B Rating 4A1)
Future residential redevelopment potential (subject to consents)
Approximately 1,869.75 sq m (20,126 sq ft) with versatile floor plates
Car parking for approximately 53 cars, providing a car parking ratio of 1:380 sq ft
Six Week Completion

Lot
14
Auction
27th March 2014
Rent
£181,250 per Annum Exclusive
Status
Sold
Price
£1,475,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Behalf of a Major Fund

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Freehold Office Investment

Majority let to Clinton Avenue Properties Ltd t/a BDO Accountants (with guarantee from Pannells LLP, D & B Rating 4A1)
Future residential redevelopment potential (subject to consents)
Approximately 1,869.75 sq m (20,126 sq ft) with versatile floor plates
Car parking for approximately 53 cars, providing a car parking ratio of 1:380 sq ft
Six Week Completion

Lot 14
Auction 27th March 2014
Rent £181,250 per Annum Exclusive
Status Sold
Price £1,475,000
Sector
Office
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Behalf of a Major Fund

Property Information

Location

Miles: 1 mile north of Nottingham city centre; 27 miles north of Leicester; 34 miles south of Sheffield
Roads: A60, A6514, A610, A52, M1 (Junction 26)
Rail: Nottingham Railway Station
Air: East Midlands Airport

Situation

The property is located in a mixed use area, situated among residential housing and established offices/businesses, 1 mile north of Nottingham city centre.
Regent House is situated on the north side of Clinton Avenue, off Hucknall Road (A611) which connects with the A60 leading directly into the City Centre.

Tenure

Freehold.

Location

Miles: 1 mile north of Nottingham city centre; 27 miles north of Leicester; 34 miles south of Sheffield
Roads: A60, A6514, A610, A52, M1 (Junction 26)
Rail: Nottingham Railway Station
Air: East Midlands Airport

Situation

Tenure

Freehold.

Description

The property comprises a substantial office building providing accommodation over ground, first and second floors with each floor benefiting from open plan floor plates. The accommodation benefits from suspended ceilings, raised floors and air conditioning. There are three separate entrances allowing for flexible occupation and the property benefits from a site area of 0.32 hectares (0.79 acres) providing car parking for approximately 53 cars.
The property may be suitable for alternative uses and future residential redevelopment potential (subject to consents).

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Part Ground, First & Second	Office	1,278.24 sq m	(13,759 sq ft)	CLINTON AVENUE PROPERTIES LTD (Guaranteed by PANNELLS LLP) (1) (t/a BDO Accountants) (2)	15 years from 09/01/2006	£181,250	08/01/2021
Part Ground	Office	591.51 sq m	(6,367 sq ft)	VACANT POSSESSION
Electricity Substation					99 years from 21/11/2005	Peppercorn
Totals		1,869.75 sq m	(20,126 sq ft)			£181,250

(1) For the year ending 31/03/2013, Pannells LLP (formerly PKF (UK) LLP) reported a turnover of £101,255,000, pre-tax profits of £18,667,000 and a total net worth of £34,607,000. (Source: www.riskdisk.com 21/02/2014)
(2) BDO LLP merged with PKF (UK) LLP (now Pannells LLP) on 19th April 2013 and operates as one, under the BDO brand and as part of BDO’s International network.
BDO International are the largest global accountancy organisation aimed at the mid-market, with revenues of over £6bn operating in 138 countries worldwide,
employing 3,500 people across 24 UK locations. (Source: www.bdointernational.com 28/02/2014)