Key Information
- Ground floor sales area of 709 Sq Ft
- Fitted out retail area ready to trade
- Suitable for a variety of uses (STP)
- Opposite 120,000 sqft Marks & Spencer fashion and foodhall
- £38,500 per annum exclusive
The ground floor retail unit is fitted out and ready to trade and benefits from a prominent glazed frontage onto Albert Street.
Location
The property is located in Nottingham City Centre, the commercial hub of the East Midlands. The city itself is served with excellent public transport links with national rail links to London as well as an extensive tram (NET) network. The M1 motorway is situated to the west with junctions 24, 25 and 26 providing good access into Nottingham. The property is located on Albert Street, which with the adjacent Lister Gate, forms one of the dominant high street retail pitches in Nottingham City Centre. Nearby occupiers consist predominantly of large national retailers which include; Marks and Spencer, Clark's, McDonald's, Blacks and 3 Store.
VAT
All figures quoted are exclusive of VAT. The property is registered for VAT and will be applicable at the prevailing rate.
Service Charge
The tenant is responsible for a fair portion of the costs of the upkeep of the common areas and maintenance of the building
Rates
Property Description: Shop & Premises Rateable Value: £70,000 Rates Payable: £35,840 (based on the uniform business rates of 51.2p, effective until March 2023). The draft valuation has been updated by the Valuation Office Agency and is as follows; Property Description: Shop & Premises Rateable Value: £25,000 Rates Payable: £12,475 (based on the small business rates of 49.9p, effective until March 2024). This will come into effect from April 2023. All retail, leisure and hospitality users will be entitled to 50% rates relief or rates payable up until April 2023, which will increase to a 75% discount from April 2023. (Source: VOA)
EPC
Available on request
Viewing
Viewings are by appointment with Innes England or our joint agent: FHP 0115 950 7577
Legal Costs
Each party is to bear their own legal costs incurred.
Accommodation
Measurements are quoted on a Net Internal basis in accordance with the RICS Property Measurement Second Edition.
Planning
We understand the property benefits from planning consent, under Town and Country Planning (Use Classes) Order 1987 (as amended), for the following uses : Class E (Commercial, Business and Services use). The retail parade has a planning consent for hot food takeaway use (Class A5). Making the premises suitable for uses such as a shop, cafe, restaurant, hot food takeaway, office, clinics, health centre and day nurseries. (This information is given for guidance purposes only and prospective parties are advised to make their own enquiries of the local authority).