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1-5 High St

4,724 SF Retail Building Arnold NG5 7DA £595,000 (£126/SF) 7.04% Net Initial Yield

Investment Highlights

  • Prominently located bar/restaurant opportunity in busy Nottingham suburb
  • The Freehold is available to purchase for £595,000, reflecting a Net Initial Yield (NIY) of 7.04%.
  • Fitted out to a high standard with an extensive beer garden to the rear
  • Fully let to a private individual with a passing rent of £44,000 pax providing a NIY of 7.04%

Executive Summary

The property is comprised of a number of retail units that have been combined and then extended to form one large unit which is currently fitted out to a high standard as a restaurant/bar with a commercial kitchen. The first floor is a mezzanine providing further restaurant seating & WC's as well as live-in managers accommodation to the front of the first floor. The property benefits from air conditioning throughout. To the rear of the property, there is an extensive beer garden which provides access to the rear public car park. The property also benefits from a small car park/yard to the rear for staff of the restaurant.
The property is held freehold subject to a lease dated 27th February 2020. The property is let to a private individual for a term of 15 years, with the next tenant break option being the 27th February 2030 which require 6 months written notice. The current passing rent is £44,000 pax and there are upward only open market rent reviews on every third anniversary.

Property Facts Sale Pending

Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Restaurant
Building Size
4,724 SF
Building Class
B
Year Built
1950
Price
£595,000
Price Per SF
£126
Net Initial Yield
7.04%
NOI
£41,888
Tenancy
Single
Number of Floors
2
Frontage
38 ft on High Street

Amenities

  • Storage Space
  • Smoke Detector

Nearby Major Retailers

Costa Coffee
Iceland
ASDA
National Westminster Bank Plc
Barclays
Starbucks
Sainsbury's
Lidl
Co-operative Food
ALDI
  • Listing ID: 34105358

  • Date on Market: 06/12/2024

  • Last Updated:

  • Address: 1-5 High St, Arnold NG5 7DA

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