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Leisure Facility for sale

Lower Parliament Street,Nottingham,NG1

Under Offer 278 sq. m. | £125,000

Property Description

Commercial information

  • 2,992 sq ft (278 sq m)

Full description

Tenure: Leasehold


Head lease for sale
278 sqm


This is a former nightclub, currently let as a dance studio and entertainment centre.

The tenants six-year underlease started on 8 March 2013, paying 10,000 a year with a rent review on 8 March 2016.

We understand that the head lease, which is currently offered for sale, started on 1 June 1930 for a period of 99 years at 83.50 a year.

13 years now left unexpired on the lease. It was 99 years from 1930.

In essence, there is an opportunity to get a rental stream on this property until 31 May 2030.

Looking to invest in commercial property?
The market is bouncing back: The Property Investor News reported: "Commenting on the current state of the commercial property market and the year ahead, Alan Sippett, investment director at Heartwood Investment Management, says: 'We believe that commercial property is set to perform well again in 2015, following a stellar 19.3% return in 2014.Steady economic growth and low interest rates are spurring rising demand for office, industrial and distribution buildings across the UK, at the same time as there is a limited supply of properties in attractive locations, an overhang from the credit crunch.

'Based on our research, we expect rising rental growth in London and other UK cities to be a key driver of the market's performance this year. Vacancy rates for quality properties in certain areas of the country have fallen to record lows. Outside of London, rental growth in 2015 is forecast to significantly surpass 2014.'"

Nottingham has an estimated population of over 310,000 with the wider urban area and suburbs. It's got everything you would expect from one of the UK's largest cities, very well packaged together so you can walk from one side of the city to the other in just over 10 minutes.

The city centre is packed full of big brands, great choice and unique independent retailers. It is a thriving and compact retail and leisure destination with a proud heritage in retail.

Please note that this is the only official copy of details we will issue. We will not issue a paper official copy or email.

All prices quoted are exclusive of VAT and viewing is strictly by appointment with Agents Chartex.

While we make all reasonable efforts to ensure that these particulars are reliable, the accuracy of any statement contained herein is not guaranteed, nor do such statements form any contract or constitute any warranty, interested parties should note that:

All dimensions, distances, floor areas are approximate and for guidance purposes only. Plans supplied or referred to are for identification purposes only
We have not tested nor do we test any heating systems, appliances, apparatus, equipment, fixtures or fittings or services and no warranty is given as to their serviceability, condition or availability.
Any information supplied on planning matters, rating assessments, tenure or tenancies has been obtained by verbal enquiry only and has not been checked. Any interested parties are advised to consult their own solicitor and/or the local authority for verification before entering into any commitment.
These particulars are issued on the distinct understanding that all negotiations are to take place through Chartex. The property is offered subject to formal contract and it still being available at the time of enquiry. No responsibility can be accepted for any loss or expense incurred in viewing.

Energy Performance Certificates (EPCs)

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