12 Queens Bridge Rd
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12 Queens Bridge Rd
22,638 SF 100% Leased Retail Building Nottingham NG2 1NB £950,000 (£42/SF) 6.49% Net Initial Yield
Investment Highlights
- Prominent landmark building situated in Nottingham City Centre
- Potential redevelopment of the site or reuse of the existing building should the existing tenant vacate
- Frontage to both Traffic Street and Queensbridge Road/Sheriffs Way
Executive Summary
Currently let and occupied by Castle Rock Brewery producing £52,099 Per Annumwith an outstanding Rent Review (March
2022). Current passing rent reflects £2.30/ ft2 with reversionary growth possible.
• Potential redevelopment of the site or reuse of the existing building should the existing tenant vacate.
• For Sale subject to the existing leases to Castle Rock Brewery and telecommunications agreement.
In addition to the above, there is a third lease
relating to a Telecommnications mast fitted
to the tower block. The lease is for 15 years
from 2nd December 2011 and will expire
1st December 2026. There is a rent payable
of £9,550 Per Annum which is reviewed
every 5th year anniversary. This lease is
made between Floor Maintenance Services
Holding Limited (Landlord), Tynemill Limited
(Tenant) and T-Mobile Limited (Licensee); we
understand that Tynemill receive the whole
rent as part of this agreement.
2022). Current passing rent reflects £2.30/ ft2 with reversionary growth possible.
• Potential redevelopment of the site or reuse of the existing building should the existing tenant vacate.
• For Sale subject to the existing leases to Castle Rock Brewery and telecommunications agreement.
In addition to the above, there is a third lease
relating to a Telecommnications mast fitted
to the tower block. The lease is for 15 years
from 2nd December 2011 and will expire
1st December 2026. There is a rent payable
of £9,550 Per Annum which is reviewed
every 5th year anniversary. This lease is
made between Floor Maintenance Services
Holding Limited (Landlord), Tynemill Limited
(Tenant) and T-Mobile Limited (Licensee); we
understand that Tynemill receive the whole
rent as part of this agreement.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Building Size
22,638 SF
Year Built
1890
Price
£950,000
Price Per SF
£42
Net Initial Yield
6.49%
NOI
£61,649
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Building FAR
1.42
Land Acres
0.36 AC
Frontage
41 ft on Queensbridge Road
Amenities
- Bus Route
- Commuter Rail
1 of 1
Nearby Major Retailers
-
Jasper Caudwell -
Pygott & Crone
1 of 5
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12 Queens Bridge Rd
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