25 Upper Parliament St - Express Buildings 905 SF Retail Condo Unit Offered at $351,658 CAD in Nottingham NG1 2AQ
INVESTMENT HIGHLIGHTS
- The property occupies a prime pitch on Upper Parliament Street
- The Victoria Centre is opposite the property which is anchored by John Lewis and House of Fraser
- Known to be one of the principal retail streets in Nottingham Town Centre
EXECUTIVE SUMMARY
The property occupies a prime pitch on Upper Parliament Street, one of the principal retail streets in Nottingham Town Centre. The area is characterised by a a number of national an boutique occupiers including McDonalds, Sainsburys, KFC and Wagamama. The Victoria Centre is opposite the property which is anchored by John Lewis and House of Fraser.
PROPERTY FACTS
| Price | $351,658 CAD |
| Unit Size | 905 SF |
| No. Units | 1 |
| Total Building Size | 22,273 SF |
| Property Type | Office (Condo) |
| Sale Type | Investment |
| Building Class | B |
| Floors | 6 |
| Typical Floor Size | 3,502 SF |
| Year Built | 1876 |
| Lot Size | 0.13 AC |
| Parking Ratio | 0.4/1,000 SF |
| Sale Condition | Auction Sale |
AMENITIES
- 24 Hour Access
- Bus Line
- Kitchen
- Storage Space
- Basement
- Common Parts WC Facilities
- Partitioned Offices
- Reception
1 UNIT AVAILABLE
Unit 25
| Unit Size | 905 SF |
| Price | $351,658 CAD |
| Price Per SF | $388.57 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Cap Rate | 12.89% |
| NOI | $45,345.32 CAD |
| Sale Conditions | Auction Sale |
DESCRIPTION
Arranged across ground floor (496 sq ft) and basement (409 sq ft), the property is fully let to Greggs Plc on a five year lease expiring 10/06/2026 and paying £24,500 per annum. The tenant did not serve their 2024 break option displaying confidence in the location.
SALE NOTES
The property comprises a high yielding retail investment let to Greggs, one of the UKs most successful and recognisable High Street brands.
Long Leasehold - 999 Year Lease at Peppercorn Rent.
Guide price £190,000.
Investment Let at £24,500 p.a. (12.9% GIY on Guide Price).
