35-37 Loughborough Road, West Bridgford, NG2 7LJ

LOCATION:
The property is located on the very busy A60 Loughborough Road, which is the major arterial route through West Bridgford. The A60 links Nottingham city centre to West Bridgford and Loughborough, via Trent Bridge.

West Bridgford, which is located 1.5 miles south of Nottingham city centre, is both commercially and residentially, the most sought-after suburban town within the East Midlands.

The town is very affluent and boasts occupiers such as Marks and Spencer, Oliver Bonas, Caffe Nero, Waterstones, Pizza Express, Laithwaites, Loungers, Cote, Sainsburys and Wagamama, The Botanist and Giggling Squid.

Nearby Occupiers to the property include Nottingham Forest FC, the internationally renowned Trent Bridge Cricket Ground, Tesla and the headquarters of Nottinghamshire County Council.

THE PROPERTY:
The property comprises a detached retail warehouse which was fully refurbished in 2023.

The building comprises an open plan ground floor retail sales area, incorporating a w/c, kitchenette and staff room with a staircase at the rear of the property leading to the first floor mezzanine.

The property benefits from a large car park, providing 17 on site spaces, with access directly off the A60. There is an existing right of way across the front of the car park to the adjacent building, 33 Loughborough Road.

The refurbishment works, completed in June 2023, include the following:
- New roof
- Partially rebuilding of elevations
- New fully glazed shopfront
- New screeded floor throughout ground floor
- New electrics
- Full insulation on walls and roof
- Provision of EV charging point

ACCOMMODATION:
Ground Floor: 244.6 sq m (2,633 sq ft)
Mezzanine: 108 sq m (1,162 sq ft)
TOTAL: 352.6 sq m (3,795 sq ft)

Externally there are 17 car parking spaces.

PLANNING:
Planning consent was granted in April 2023 for a change of use to E Class (retail use).

The planning reference at Rushcliffe Borough Council is 22/02300/FUL.

TENANCY:
The property is let in its entirety to The Electric Bike Shop Ltd (company number 09097113). Existing stores are situated in locations such as Bristol, Wilmslow, Battersea and Harrogate.

The company was established in 2014 and trades from 11 locations across the UK and is considered to be the UK's leading independent electric bike retailer.

The lease commencement date is 11 August 2023 at a commencing rent of £52,500per annum. The tenant was granted a rent free period to assist with fitting out works.

The lease is for a period of 10 years, without inclusion of a break clause and incorporates an upward only, open market rent review at year five. The lease is drawn on full repairing and insuring terms.

PROPOSAL:
We are instructed to seek offers of £830,000, subject to contract and exclusive of VAT.

A sale at this figure and assuming purchaser's costs of 5.28%, reflects a net initial yield of 6.00%.

In the event of a sale, the vendor will "top up" the rent free period.

VAT
We understand that the property is elected for VAT and as such a sale may be treated as a Transfer of a Going Concern (TOGC).

EPC
E-119 - Expiring 27 January 2025
Please note that the EPC survey was undertaken prior to the refurbishment works, which included insulation to the new roof and walls.

ANTI MONEY LAUNDERING:
In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.

CLICK LINK BELOW FOR BROCHURE