Location
The property is situated in the heart of Nottingham's Hockley area forming part of the city's creative quarter. Hockley has established itself over the last few years as a thriving retail and leisure area of the city with an eclectic mix of independent and regional operators trading day and night.
There is a vibrant mix of restaurants, bars, boutique retailers and creative commercial occupiers within the immediate vicinity including Mowgli, BEAR, Bar Iberico, Taquero, Rough Trade, Brewdog, Pho, Broadway Cinema and Fat Hippo, to name a few.
Description
The property comprises a three storey, mid-terrace retail unit with pitched slate roof.
The ground floor has been extended at the rear to create a larger sales area and the first and second floors being representative of the original building layout.
The property is currently fully fitted as a cocktail bar with seating at ground and first floor level with associated back of house and staff facilities on the second floor. In the basement there is a cellar, storage and additional toilets.
Accommodation
Ground Floor: 106.52 sq m (1,147 sq ft)
First Floor: 44.37 sq m (478 sq ft)
Second Floor: 44.07 sq m (474 sq ft)
TOTAL: 194.96 sq m (2,099 sq ft)
In addition, there is a basement of 22.64 sq m (244 sq ft).
Please note the floor areas from the VOA so interested parties should verify.
Floorplans are available on Page 5 of the brochure.
Tenure
Freehold, subject to the occupational lease detailed below.
Tenancy Information
The Property is let in its entirety to RO RO RI Limited on a Full Repairing and Insuring basis from 1 September 2023 expiring 30 November 2028. The current passing rent is £30,000 per annum, payable monthly.
There is a schedule of condition and a landlord's fixtures and fittings list.
There is a tenant only break option on 30 November 2026, subject to six months written notice.
A Rent Deposit Deed is in place and the landlord is holding a deposit of £5,000.
The lease is contracted out of the Landlord and Tenant Act but the tenant does have a right to renew at lease expiry.
We are able to provide copies of the lease, rent deposit and fixtures and fittings list.
Covenant
The property is let in its entirety to:-
RO RO Ri Limited trading as Pogo Nottingham
which is a premium cocktail bar situated within the heart of Hockley.
Internally, the venue is fitted to a high standard providing a range of seating options at both ground and first floor.
Images of the internal fit out are on page 3 and 4 and we recommend visiting the occupiers website, social media or reviewing local press articles for further information on their use (see brochure for links).
Price
The property is available to buy freehold at offers in excess of:-
£350,000
which reflects 8.26% after purchaser's costs of 3.80%.
Please do not visit the premises without arranging an appointment.
Planning
The building received planning permission for a change of use to Class A3/A4 use and a new shopfront in January 2017.
The planning application reference number is:-
16/02262/PFUL3
Business Rates
The Rateable Value is £26,740.
VAT
VAT is not applicable to the rent or purchase price.
Licencing
Full details of the premises licence are available upon request.
EPC
D-97
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.
Viewings
Interested parties should not visit the premises without first speaking with the selling agents.
