Description
The existing building is situated in Hucknall, Nottinghamshire and is currently a single-storey commercial unit that is currently let to Tesco Stores Limited. The current terms of the lease expire in June 2025 with the tenants paying £40,500 pa. A lease extension has been agreed for a new FRI 15- year lease paying £44,800 pa with a break option after 10 years and 5 yearly rent reviews linked to RPI.
The building will be sold with the whole car park. Please refer to the location plan to show which parking area belongs to Tesco. The other commercial freeholds will have rights to park over the rest.
Location
The existing building forms part of a group of commercial units situated at a prominent position on Annesley Road. The immediate neighborhood comprises predominantly low-rise residential dwellings with local independent businesses and additional amenities including a bakery, hair salon and Hucknall National Primary School.
Transport
The nearest station is Hucknall Station and is situated 0.9 miles away (17-minute walk) providing direct access into Nottingham City Centre.
Tenure
Freehold.
Additional Information
At Unit 2, 161-163 Annesley Road Tesco Stores Limited under a separate lease also utilises this space as storage and will not form part of this sale.
Access
Available upon request.
VAT
The property is elected for VAT. We have been advised that the purchase will be treated as a Transfer of a Going Concern (TOGC).
Terms
Highfield are inviting offers in access of £850,000 for the freehold interest.
