Chaucer House Commercial Street Mansfield Nottinghamshire NG18 1AA

Chaucer House
Commercial Street
Mansfield
Nottinghamshire
NG18 1AA

Freehold Office Investment

  • Fully let to Nottinghamshire County Teaching PCT and Independent Training Services Limited
  • Accessed via the A60 Inner Ring Road (St Peter’s Way)
  • Close proximity to Mansfield Rail Station and opposite St Peter’s Retail Park
  • On-site parking for 14 cars
  • Nearby occupiers include Bryan & Armstrong Solicitors, Alcocks Solicitors and The Best Connection Employment Group
  • Lot
    60
  • Auction
    5th December 2018
  • Rent
    £50,060 per Annum Exclusive
  • Status
    Sold
  • Price
    £400,000
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Mapeley
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Office Investment

  • Fully let to Nottinghamshire County Teaching PCT and Independent Training Services Limited
  • Accessed via the A60 Inner Ring Road (St Peter’s Way)
  • Close proximity to Mansfield Rail Station and opposite St Peter’s Retail Park
  • On-site parking for 14 cars
  • Nearby occupiers include Bryan & Armstrong Solicitors, Alcocks Solicitors and The Best Connection Employment Group
  • Lot 60
  • Auction 5th December 2018
  • Rent
  • Status Sold
  • Price £400,000
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Mapeley

Property Information

Location
Miles
11 miles south-east of Chesterfield
17 miles north of Nottingham
Roads
A38, A60, A617, M1
Rail
Mansfield Railway Station
Air
East Midlands Airport
Situation

The property is located just off the A60 Inner Ring Road (St Peter’s Way), close to Mansfield railway station, in the heart of the town centre. Surrounding office occupiers include Bryan & Armstrong Solicitors, Alcocks Solicitors and The Best Connection Employment Group. Adjacent to the property is St Peter’s Retail Park, which houses retailers including Next, TK Maxx, Boots, Costa Coffee and Greggs.

Tenure

Freehold.

Location
Miles
11 miles south-east of Chesterfield
17 miles north of Nottingham
Roads
A38, A60, A617, M1
Rail
Mansfield Railway Station
Air
East Midlands Airport
Situation

The property is located just off the A60 Inner Ring Road (St Peter’s Way), close to Mansfield railway station, in the heart of the town centre. Surrounding office occupiers include Bryan & Armstrong Solicitors, Alcocks Solicitors and The Best Connection Employment Group. Adjacent to the property is St Peter’s Retail Park, which houses retailers including Next, TK Maxx, Boots, Costa Coffee and Greggs.

Tenure

Freehold.

Description

The property comprises a three storey detached office building with the ground, first and second floor office accommodation arranged to provide two self-contained suites. The property benefits from on-site parking for 14 cars.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

EPC Rating Band C. Copy available to download from the legal pack at www.acuitus.co.uk

Description

The property comprises a three storey detached office building with the ground, first and second floor office accommodation arranged to provide two self-contained suites. The property benefits from on-site parking for 14 cars.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

EPC Rating Band C. Copy available to download from the legal pack at www.acuitus.co.uk

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review
Ground Office
191.84 sq m
(2,065 sq ft)
NOTTINGHAMSHIRE
COUNTY TEACHING
PCT
10 years from
27/07/2011 until
26/07/2021
£15,060 27/07/2016 (1)
First/
Second
Office 393.44 sq m (4,235 sq ft) INDEPENDENT
TRAINING SERVICES
LIMITED (2)
10 years from
22/08/2018 until
21/08/2028 (4)
£35,000 (3) Fixed increase to
£35,000 on
22/08/2020 (4)
Total
585.28 sq m
(6,300 sq ft)
    £50,060  

(1) The 2016 rent review is outstanding.
(2) Independent Training Services was founded in 1981 as a registered charity (Source: www.ind-training.co.uk/about-us/ 01/11/2018)
(3) The lease provides a mutual option to determine on 22/08/2023.
(4) The current passing rent is £25,000 p.a.x. The lease provides fixed rental increases to £30,000 in August 2019 and £35,000 in August 2020. The seller has agreed to adjust the completion monies so that the first/second floors will effectively produce £35,000 p.a.x. from completion of the sale. There is a further rent review in August 2023.

Property Documents

  • Site Plan
    Updated Date
    06.11.19
    File Size
    794 KB
    View PDF
  • Catalogue Page
    Updated Date
    06.11.19
    File Size
    928 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Clarke Willmott LLP 1 Georges Square, Bath Street
Bristol
BS1 6BA
Simon Day 0345 209 1356simon.day@clarkewillmott.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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