171-177 Castle Boulevard, Nottingham, NG7 1GY

Description
The property comprises a two storey retail / office building being of a modern framed construction with blockwork infill walls and decorative brick facing under a hipped tiled roof. It occupies a self-contained site with external marked parking for 20 vehicles.
The front elevation incorporates UPVC double glazed window units at ground floor with a customer and staff entrance, both to the front and rear.
The ground floor is configured to provide the main retail / dispensary, including two consulting rooms and store fitted out in the tenants ‘house style’ to include plastered and painted walls, suspended acoustic tile ceilings with recessed LED lighting panels, Dakin air handling units, lino and carpeted concrete floors.
A reception area is accessed from the rear car park with a waiting room and disabled WC.
The first floor is finished to a similar specification providing a series of consulting rooms, administrative office and stores.

Location
The property occupies a prominent position fronting Castle Boulevard, at its junction with Castle Bridge Road.
The immediate vicinity has undergone significant development, including residential / student schemes such as Graystacks, Boulevard Wharf and Park Rock.
Castle Boulevard is a main arterial route into Nottingham City Centre running along the edge of the affluent residential Park Estate and Nottingham Canal.
Adjacent occupiers include ATS, Frank Knighton, Mr Tyre Limited, Majestic, Burger King and Halfords Auto Centre.
In addition, Castle Marina Retail Park is within close proximity.

Terms
Offers are sought in the region of £800,000 (Eight Hundred Thousand Pounds) for the freehold interest, subject to contract and exclusive of VAT.
A purchase at this level reflects a net initial yield of 6.86%.

Tenure
The property is held freehold under Title Number NT119490.

Occupational Tenancy
The entire property is let to Boots Opticians Professional Services Limited for a term of 5 years, commencing 1 April 2024 at a passing rent of £57,750 per annum. The lease is drafted on a full repairing and insuring basis.