4-6 Broadway
Nottingham NG1 1PS

Offers are sought in excess of £4,000,000 for the whole subject to contract and exclusive of VAT.
A purchase at this level reflects a Net Initial Yield of 8.10% and Reversionary Yield of 11.19% once the property is fully let and ERV’s achieved. The price represents a low capital value of £126 psf. Consideration is also being given to a sale in part, further details available from the agents.
The freehold of the property is available to purchase as a whole however consideration will be given to disposing of the portfolio as 3 individual titles.
The properties will be sold with the subsisting tenancies in place.
One of Nottingham’s landmark buildings, the asset is architecturally exceptional having been built on the grounds of the former Plumptre House and designed by the renowned architect, T C Hine. The portfolio comprises in effect, three separate buildings which are all linked
but not connected in all cases. These three buildings are known as 35-37 St. Mary’s Gate, 2-6 Broadway and 8-12 Broadway which are all on separate titles. The majority are four to five storeys high, brick constructed and date back from the original Lace Market development,
constructed in the mid-1800’s.
35-37 St. Mary’s Gate fronts onto the eastern side of the street and is, in effect, a U-shaped building. The central courtyard is accessed via a corridor from St. Mary’s Gate. This four-storey element also includes a basement.
The building known as 2-6 Broadway which sits at the corner of Broadway and St. Mary’s Gate, is constructed over four floors and has access from Broadway. A common stairwell leads to all floors with each floor providing an individual office suite. These are divided in various ways but are generally open plan. The top floor has a feature of the ceiling beams and is glazed to the perimeter. The remainder of 2-6 Broadway is set back slightly and has two entrance stairwells with each floor being subdivided to provide office accommodation. The basement has its own access doorway which sits just to the right of the main entrance.
The remaining section of the holding comprises the show piece of the portfolio, known as The Birkin Building, no. 8-12 Broadway and is one of Nottingham’s most prestigious addresses. This is broadly an L-shape as it follows the curve and realignment of Broadway as it runs down to Stoney Street. This element provides two impressive entrances constructed from stone with bays above and also within the eastern most element is an archway. The building also benefits from a passenger lift.
Internally the portfolio provides a variety of good quality office accommodation benefitting from ample natural light, with most offices benefitting from more recent fit outs but generally include perimeter trunking, good quality lighting and heating, as well as toilet and kitchen facilities. The building benefits from a dedicated 1 TB lease line. In particular, the accommodation is well fitted on all floors and in particular the upper floors are of a highly attractive nature having a large lantern roof light and an open galleried area. In general terms we would suggest that this accommodation is some of the most attractive within The Lace Market within a period building. It should be noted that there is a substantial basement area beneath the entirety of this building which is currently unused but does have potential, including access to a medieval brewery and caves.