9 Castle Quay Castle Boulevard Nottingham Nottinghamshire NG7 1FW

9 Castle Quay
Castle Boulevard
Nottingham
Nottinghamshire
NG7 1FW

Freehold Office Investment with Potential

Let on renewed 5 year lease to The First Secretary of State
Located on Established Purpose Built Office Park
1 mile west of Nottingham City Centre
Future Development Potential (subject to consents)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
27
Auction
30th March 2017
Rent
£128,500 per Annum Exclusive
Status
Sold
Price
£1,550,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of a Major Fund Manager

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Freehold Office Investment with Potential

Let on renewed 5 year lease to The First Secretary of State
Located on Established Purpose Built Office Park
1 mile west of Nottingham City Centre
Future Development Potential (subject to consents)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 27
Auction 30th March 2017
Rent £128,500 per Annum Exclusive
Status Sold
Price £1,550,000
Sector
Office
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of a Major Fund Manager

Property Information

Location

Miles: 1 mile west of Nottingham city centre, 29 miles north of Leicester, 38 miles south-east of Sheffield
Roads: A6005, A52, A60, M1 (Junction 26)
Rail: Nottingham Railway Station
Air: East Midlands Airport

Situation

The property is situated on an established purpose built office park 1 mile west of Nottingham City Centre just off Castle Boulevard (A6005), which offers direct access to the City Centre. The surrounding area is mixed use, providing office and residential uses, along with numerous retailers such as Laura Ashley and Multiyork Furniture. Castle Marina Retail Park, accessed via a nearby walkway, is located to the south of the property and houses occupiers including Currys, DFS, Pets at Home, Carpetright and Costa Coffee. Castle Quay is home to occupiers including St James’ Place Wealth Management, Tramlink Nottingham and Heart Internet. A number of new residential schemes have been built along Castle Boulevard, including Castle Point, an exclusive luxury development.

Tenure

Freehold.

Location

Miles: 1 mile west of Nottingham city centre, 29 miles north of Leicester, 38 miles south-east of Sheffield
Roads: A6005, A52, A60, M1 (Junction 26)
Rail: Nottingham Railway Station
Air: East Midlands Airport

Situation

Tenure

Freehold.

Description

The property comprises a detached office building over ground and first floors. The property provides future redevelopment potential (subject to consents). The property benefits from rights to parking.

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
Ground First	Office Office	6.70 sq m 631.30 sq m	(6,423 sq ft) (6,793 sq ft)	THE FIRST SECRETARY OF STATE t/a National Probation Office (1)	5 years from 25/03/2017 (2)	£128,500	24/03/2022
Totals		1,227.80 sq m	(13,216 sq ft)			£128,500

(1) The tenant has been in occupation since at least 1991.
(2) The First Secretary of State will benefit from a 6 weeks’ rent free period which will expire on 06/05/2017. The seller has agreed to adjust the completion monies so that the unit will effectively produce £128,500 p.a. from completion of sale.