64-64A Derby Rd 1,582 SF Retail Building Nottingham NG9 7AB $483,255 CAD ($305.47 CAD/SF) 7.62% Cap Rate

Investment Consideration:
Gross Initial Yield: 7.62%
Rental Income: £19,800 p.a.
VAT is NOT applicable to this property
Comprises ground floor shop t/a Nail Salon and 2-bedroom flat at first floor
Property benefits from large yard at rear, as well as outdoor space at front
Occupiers close by include Ladbrokes, Boots, Halifax, KFC, Sainsbury’s and many others.
Property Description:
Comprises ground floor shop with large rear yard and self-contained residential flat at first floor, accessed from the side of the building and providing the following accommodation and dimensions:
Ground Floor Shop: 75 sq m (807 sq ft)
Open plan retail, kitchen, storage, garden
First Floor Flat: 72 sq m (775 sq ft)
2 bedrooms, kitchen, living room, bathroom
Total GIA: 147 sq m (1,582 sq ft)
Tenancy:
The retail shop is at present let to Nail Art Nottingham Ltd for a term of 10 Years from 30th July 2024 at a current rent of £12,000 p.a. and the lease contains full repairing and insuring covenants. Rent review on 30.07.29 open market upward only. Tenant option to determine on 30.07.29 with minimum 6 months notice. Deposit held of £3,000.
The flat is at present let on AST to an Individual for a term of 6 Months from 12th June 2023 at a current rent of £7,800 p.a. Deposit held of £650.
Location:
Stapleford is located some 5 miles to the south-west of Nottingham, one of the major commercial centres of the East Midlands. Junction 25 of the M1 Motorway is some 2 miles to the west of the town centre. The property is situated on Derby Road, opposite its junction with Victoria Street in the centre of Stapleford. Occupiers close by include a new Iceland Store, Farm Foods, JD Wetherspoons, Sainsbury's Local, Lloyds Bank, Greggs, Ladbrokes and a large Co-operative Food supermarket, as well as a number of local traders.