2A Station Street, Nottingham, Nottinghamshire, NG10

Investment Consideration:
Gross Initial Yield: 10.40%
Rental Income: £7,280 p.a.
VAT is applicable to this property
Comprises ground floor retail shop t/a cafe
Occupiers close by include Argos, Aldi and a number of local shops, restaurants/takeaways and convenience store.

Property Description:
The property comprises mid-terrace ground floor shop t/a cafe, providing the following accommodation and dimensions:
Ground Floor: 66 sq m (710 sq ft)
Open plan cafe, Kitchen, WC

Tenancy:
The shop is at present let to an Individual (with personal guarantor) for a term of 6 Years 11 Months from 20th December 2023 at a current rent of £7,280 p.a. and the lease contains full repairing and insuring covenants. Tenant option to determine in December 2027 with min 6 months notice. Rent review in December 2026 open market upward only. Deposit held of £1,220.

Tenure:
Long leasehold. Held of a 999 years lease from 1st January 2016 at a ground rent of peppercorn.

Location:
Long Eaton is a town in the Erewash district of Derbyshire, England, just north of the River Trent, about 7 miles (11 km) south-west of Nottingham and some 8.5 miles (13.7 km) south-east of Derby. The main road through the town forms part of the A6005 and junction 25 of the M1 motorway is on its north-western border. The area around the traffic island in the town centre is called The Green by locals. Long Eaton railway station is on the Midland Main Line. The Erewash Canal passes through the town. There are bus services to the nearby cities of Nottingham and Derby, which depart every few minutes. Other local services include the East Midlands Airport.