35 Forman Street, NG1 4AA
Size
624 - 2,766
Tenure
Freehold
EPC
Ask agent
Parking
Ask agent
- Primary use
- High street retail
- Other use(s)
- Other leisure
- Frontage
- Ask agent
Building amenities
Additional costs may apply for some services – please check the full property description for more details.
- Transport links
- Well connected
- Cafe
- Kitchen
Key features
- Prime retail / leisure unit let in its entirety to Caffé Nero.
- 257 sq m (2,766 sq ft).
- Ground floor sales 125.9 sq m (1,355 sq ft).
- First and second floors 131.1 sq m (1,411 sq ft).
- Entire building let to Nero Holdings Limited T/A Caffé Nero.
- New five-year full repairing and insuring lease from 21 August 2026.
- Passing rent of £43,300 per annum.
- Price £610,000 - NIY 6.76%.
Description
The property is prominently situated on Forman Street, a pedestrianised street in Nottingham City Centre.
Forman Street is adjacent to Nottingham’s Royal Concert Hall and Theatre Royal, as well as The Cornerhouse, which is Nottingham’s premier leisure destination.
Adjacent and nearby occupiers include Prezzo, Nando’s, Wingstop, Wagamama, Bella Italia and View Cinema.
Description
The property is arranged over ground, first and second floors, with the ground and part first floor currently used operationally by Caffé Nero.
In addition to the main pedestrian access, there is a separate external entrance from Forman Street which provides access to the upper floors.
Part of the first floor and the entire second floor are currently unused by the tenant (although under their lease) and there is potential to redevelop this accommodation for alternative uses, subject to discussions with Caffé Nero and subject to receipt of planning permission.
Asset management initiatives could be implemented following lease expiry.
Externally, Caffé Nero have a pavement licence for external seating within the primarily pedestrianised Forman Street.
Accommodation
Ground Floor: 125.9 sq m (1,355 sq ft)
First Floor: 73.1 sq m (787 sq ft)
Second Floor: 58.0 sq m (624 sq ft)
TOTAL 257.0 sq m (2,766 sq ft)
The floor areas are for general guidance only.
Tenure
The property is held freehold under Title No. NT185188, and is subject to the Caffe Nero occupational lease as described below.
Price
The property is available to buy at a price of:-
£610,000 (Freehold)
which reflects a net initial yield of 6.76% after purchaser’s costs of 5.08%.
Tenancy
The Subject Property is let on the following terms:-
Tenant: Nero Holdings Limited (T/A Caffé Nero) Company No. 03288178.
Lease Date: 21 August 2026 expiring 5 August 2031
Lease Term: Five years
Repairs: Full repairing and insuring
Insurance: Landlord insures and recharges
Passing Rent: £43,300 per annum
Tenant Covenant
Caffé Nero is Europe’s largest independently and family-owned coffee house group, operating in over 650 stores in the UK and employing over 6,000 people. They have an Experian Rating of 100. For more information please visit their website (see brochure for link).
A summary of the company’s recent financial accounts is shown below:-
Year End 31 MAY 2025 / 31 MAY 2024
Turnover: £365,951,000 / £333,295,000
Pre-Tax Profit: £21,870,000 / £22,576,000
Shareholder Funds: £390,798,000 / £370,434,000
EPC
B-40. Valid until 2032.
VAT
The property is VAT elected; however, it is understood that the sale will be made by way of a Transfer of a Going Concern (TOGC).
Data Room
Access to the data room can be provided upon request.
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 heb Chartered Surveyors, the sole selling agents.
- Service charge
- Ask agent
- Business rates
- Ask agent
- Use class
- E
- Listed building
- Ask agent
- Floors in building
- 3
An Energy Performance certificate helps you understand the current energy efficiency of a property.
Read more about EPC requirementsAsk agent
- BREEAM rating
- Ask agent
- Environmental description
- Ask agent
Brochure
35 Forman Street, NG1 4AA
About heb Property Consultants, Nottingham
heb Property Consultants are one of the region's leading practices of Chartered Surveyors that specialise in all aspects of commercial property. We are a multi-discipline consultancy and our clients range from corporate companies and pension funds to small property trusts and individuals, we also provide various services to local authorities and charities.
Our ethos is based around core principles of strong communication with our clients, partner led services and a commitment to both creative and analytical thinking when dealing with property issues.
Our key services include;
Commercial property agency
Investment agency
Development advice
Professional services including rent reviews and lease renewals
Advice on s.106 and affordable housing agreements
Your search history
You have no recent searches
Disclaimer - Property reference 35-Forman-Street. 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 heb Property Consultants, Nottingham. 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.