337 / 339 Carlton Hill Nottingham Nottinghamshire NG4 1JE

337 / 339 Carlton Hill
Nottingham
Nottinghamshire
NG4 1JE

Freehold Retail/Residential Investment

Ground floor let to Martin McColl Limited
24 hour store with Post Office
Busy neighbourhood retailing location
Nearby occupiers including Tesco Express, Betfred, Lloyds Bank, Ladbrokes, Carphone Warehouse and JD Wetherspoon
VAT-free investment
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
55
Auction
23rd March 2016
Rent
£40,322 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Retail/Residential Investment

Ground floor let to Martin McColl Limited
24 hour store with Post Office
Busy neighbourhood retailing location
Nearby occupiers including Tesco Express, Betfred, Lloyds Bank, Ladbrokes, Carphone Warehouse and JD Wetherspoon
VAT-free investment
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 55
Auction 23rd March 2016
Rent £40,322 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 2 miles north-east of Nottingham city centre; 25 miles north of Leicester; 35 miles south-east of Sheffield
Roads: A46, A52, A60, M1 (Junction 26)
Rail: Carlton Railway Station, Nottingham Railway Station
Air: East Midlands Airport

Situation

The property is prominently located on the south side of Carlton Hill, a busy route between Nottingham city centre and the suburb of Carlton to the east. The property is situated within an established retailing location, with nearby occupiers including Tesco Express, Betfred, Lloyds Bank, Ladbrokes, Carphone Warehouse and JD Wetherspoon.

Tenure

Freehold.

Location

Miles: 2 miles north-east of Nottingham city centre; 25 miles north of Leicester; 35 miles south-east of Sheffield
Roads: A46, A52, A60, M1 (Junction 26)
Rail: Carlton Railway Station, Nottingham Railway Station
Air: East Midlands Airport

Situation

Tenure

Freehold.

Description

The property comprises a double fronted ground floor retail unit trading as a 24 hour convenience store with a Post Office and two self-contained residential flats on the first floor.

Six week completion

VAT

VAT is not applicable to this lot.

EPC

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

Description

VAT

VAT is not 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	Review/(Reversion)
Ground	Retail/Ancillary	141.91 sq m	(1,528 sq ft)	MARTIN MCCOLL LIMITED (1)	15 years from 19/10/2007	£40,322 (2)	19/10/2017 (2) (18/10/2022)
First (337A)	Residential Flat			INDIVIDUAL	999 years from 03/07/2007	Peppercorn
First (339A)	Residential Flat			INDIVIDUAL	999 years from 03/07/2007	Peppercorn
Totals		141.91 sq m	(1,528 sq ft)			£40,322

(1) For the year ending 30th November 2014, Martin McColl Limited reported a turnover of £462,850,000, pre-tax profits of £27,947,000 and a total net worth of £80,309,000. (Source: Experian Group 24/02/2016)
(2) Under the terms of the lease the current rent reserved is £35,630 p.a.x. The lease provides for a minimum rental increase to £40,322 p.a.x or Open Market Rental Value, whichever is greater on 19th October 2017. The seller has agreed to adjust the completion monies so that the property will produce £40,322 p.a.x from completion of the sale.