3 Heathcote Street, Nottingham NG1 3AF

Excellent café/bar opportunity for sale Leasehold

Nottingham Town Centre

£50k lease premium - £28k rent

Tenure - Leasehold
Rent - £28,000 per annum
Premium - £50k for goodwill and fixtures and fittings
VAT - Applicable on the rent
Insurance - Re-charged at cost
EPC - B (37)
Rateable Value - £11,250

3 Heathcote Street is very well located in the centre of Hockley. The building offers around 1100 sq. ft of space over 3 floors. With the main café bar area with open kitchen on the ground floor, 1st floor dining area for circa 25 covers, with ladies and gents w/c's. The basement is set up as a preparation kitchen and store room. Externally the current trading business benefits from a pavement licence which will need to be renewed annually.

Location - Well positioned in the City Centre close to the main Market Square, the property has good pedestrian access being within walking distance to the main bus station at the former Broad Marsh Centre and approximately a 5 minute walk from Nottingham Train station. Nottingham is well positioned within the Midlands, with an estimated population of circa 280,000, the City can be accessed from 3 exits from the M1 (J24 in the South Via the newly built dual carriageway A453, J25 via the A52 at Derby, and J26 Via the A610 to the North) The A453 junction to the South of the City leads to Kegworth and Castle Donington, ideal for Nottingham East Midlands airport and Donington Race track

Terms - The property is being offered on a new 5 year fully repairing and insuring lease, with an initial passing rent of £28k per annum plus VAT.
Lease premium to include branding, goodwill, and trade inventory is £50,000.
3 months rent deposit and personal guarantee's will be required.
The tenant will be responsible for all utilities for the site.
The current rateable value is £11,250, subject to status, interested parties should benefit from full rate relief.