Office for sale

83 Derby Road, Nottingham, NG1 5BB

Sold STC £405,000
3,400 sq. ft.

Property Description

Commercial information

  • 3,400 sq ft (315 sq m)

Full description

Tenure: Freehold

LOCATION
The building fronts directly on to Derby Road but can also be accessed from the rear off of The Ropewalk. Derby Road is one of the main arterial routes in and out of Nottingham City Centre, whilst The Ropewalk is one of Nottingham's most highly sought after and prestigious locations for business occupiers, therefore making the property ideally positioned

DESCRIPTION
A four storey period building, comprising of a ground floor retail unit with three floors of self-contained, modern office space above.
The retail unit to the ground floor is accessed directly off Derby Road,
The office accommodation can also be accessed through the front door at ground floor on Derby Road or via the back door at level 1.5 from the car park located at the rear of the building.
Each of the three floors is essentially a self-contained unit accessed off the communal staircase. Each floor benefits from 3 individual office rooms plus a private kitchenette and W/C.
The office accommodation is in excellent condition and has been fully re-furbished throughout, with new carpets, new LED strip lights and electric heating. It also benefits from characterful features such as the original fireplaces in most rooms, sash windows to the front and large bay windows on levels one and two welcoming plentiful light into the accommodation.
In addition, the current office accommodation benefits from planning permission for conversion to three residential flats, planning application 16/02239/PACPD Nottingham City Council refers. The permission allows for conversion of each floor to a 2 bedroom flat, with the top floor as a duplex apartment include conversion of the current loft space.

ACCOMMODATION
The building comprises of the following approximate measurements:

Ground Floor:
Retail Area - 30.1sqm (324sqft)
Office - 66.7sqm (718sqft)
Basement Store - 61.3sqm (660sqft)
W/C
Total - 157.8 (1699sqft)

First Floor:
Office 1 - 18.1sqm (195sqft)
Office 2 - 17.2sqm (185sqft)
Office 3 - 12.8sqm (138sqft)
Kitchenette
W/C
Total - 48.1sqm (518sqft)

Second Floor:
Office 1 - 18.1sqm (195sqft)
Office 2 - 17.2sqm (185sqft)
Office 3 - 12.8sqm (138sqft)
Kitchenette
W/C
Total - 48.1sqm (518sqft)

Third Floor:
Office 1 - 19.3sqm (208sqft)
Office 2 - 13.4sqm (144sqft)
Office 3 - 15.1sqm (163sqft)
Internal corridor - 2.3sqm (24sqft)
Kitchenette
W/C
Total - 50.1sqm (539sqft)

Total for whole building: 304sqm (3274sqft)

TERMS
The ground floor retail unit is currently let to Mohammed Ali and Naureen Ali on a 10 year lease from 29th September 2014. The current passing rent is £10,800pa exclusive, with further rent reviews due in 2020 and 2023. The current lease is a renewal of an original lease dating back to 1998, on internal repairing and insuring terms.

The upper floors are currently vacant, if let in their current condition we would expect to achieve a figure in the region of £20,000pa exclusive.

OUTGOINGS
We are verbally advised by the Business Rates Department of the local council that the premises are assessed as follows:

Ground Floor
Rateable Value: £7900
Multiplier (2017/2018): 0.466
Rates Payable: £3681.40

First Floor
Rateable Value: £5400
Multiplier (2017/2018): 0.466
Rates Payable: £2516.40

Second Floor
Rateable Value: £3450
Multiplier (2017/2018): 0.466
Rates Payable: £1607.70

Third Floor
Rateable Value: £3000
Multiplier (2017/2018): 0.466
Rates Payable: £1398

The property may be subject to Small Business Rates Relief - further information at www.voa.gov.uk.Interested parties are advised to confirm these figures directly with the relevant local authority.

LEGAL COSTS
Each party is to bear their own legal costs.

PARKING NOTES
The property benefits from a private car park to the rear of the building providing space for approximately 10 cars. The car park is accessed off Cottage Terrace, The Ropewalk.

PLANNING
The ground floor benefits from A3 (café/restaurant) planning consent.
The upper floors benefit from B1 (office) planning consent.
In addition, planning has been approved to convert the office accommodation to residential, comprising of 2 x 2 bed apartments and 1 x 3 bed duplex apartment. Potential for 9 bedroom Bedsit / House of Multiple Occupancy (HMO) subject to licence/planning consent.

VIEWING
For further information and to arrange access for an onsite inspection please call Hannah Owens of Rex Gooding Estate Agents on 0115 945 5553 or email hannah@rexgooding.com.


More information from this agent

Energy Performance Certificates (EPCs)

Nearest stations

  • Nottingham Trent University (0.3 mi)
  • Royal Centre (0.4 mi)
  • High School (0.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Rex Gooding Estate Agents, West Bridgford Commercial Properties

4 Albert Road West Bridgford NG2 5GQ

0115 798 0313 Local call rate

How much will it cost me to call the number displayed on the site?

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Floorplans


To view this property or request more details, contact:

Rex Gooding Estate Agents, West Bridgford Commercial Properties

4 Albert Road West Bridgford NG2 5GQ

0115 798 0313 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Nottingham Trent University (0.3 mi)
  • Royal Centre (0.4 mi)
  • High School (0.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Rex Gooding Estate Agents, West Bridgford Commercial Properties

4 Albert Road West Bridgford NG2 5GQ

0115 798 0313 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 100497006553. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Rex Gooding Estate Agents, West Bridgford Commercial Properties. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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