The Hub 22-48 Friar Ln 33,497 SF 89% Leased Office Building Nottingham NG1 6DQ £5,000,000 (£149.27/SF) 8.88% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Prime CBD location adjacent to Old Market Square.
- Nearby student and residential development.
- Potential re-positioning opportunity.
- Substantially refurbished and providing onsite car parking spaces.
EXECUTIVE SUMMARY
Offers are invited in excess of £5,000,000 (five million pounds) for the freehold interest, subject to contract and exclusive of VAT.
A purchase at this level would reflect a net initial yield of 8.61% allowing for standard purchasers costs.
The Hub comprises a seven storey primarily office building, built of steel frame construction with curtain wall glazing providing stunning views of the City. The building has undergone a substantial refurbishment to provide good quality office accommodation served by a concierge, with both stair access and a two person passenger lift. Additionally there is onsite car parking provisions.
A purchase at this level would reflect a net initial yield of 8.61% allowing for standard purchasers costs.
The Hub comprises a seven storey primarily office building, built of steel frame construction with curtain wall glazing providing stunning views of the City. The building has undergone a substantial refurbishment to provide good quality office accommodation served by a concierge, with both stair access and a two person passenger lift. Additionally there is onsite car parking provisions.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
33,497 SF
Building Class
B
Year Built/Renovated
1962/1988
Price
£5,000,000
Price Per SF
£149.27
Net Initial Yield
8.88%
NOI
£444,000
Percent Leased
89%
Tenancy
Multiple
Number of Floors
8
Typical Floor Size
4,187 SF
Slab to Slab
8 ft
Building FAR
0.61
Lot Size
1.26 AC
AMENITIES
- Storage Space
- Air Conditioning
- Balcony
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
The self-contained open plan office suites benefit from a staffed reception and concierge, air conditioning and dual passenger lift access. Suite 3C is currently arranged as cellular offices / classrooms (removable). All suites are able to access the roof-top break-out area, offering superb views from the Castle to the Old Market Square.
Available on terms to be agreed at an annual rent of £15,750. The self-contained open plan office suites benefit from a staffed reception and concierge, air conditioning and dual passenger lift access. All suites are able to access the roof-top break-out area, offering superb views from the Castle to the Old Market Square.
| Space | Size | Space Use | Condition | Available |
| 3rd Fl-Ste 3C | 2,647 SF | Office | Full Build-Out | Now |
| 4th Fl-Ste 4B | 1,065 SF | Office | Full Build-Out | Now |
3rd Fl-Ste 3C
| Size |
| 2,647 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
4th Fl-Ste 4B
| Size |
| 1,065 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
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