The property is located in Nuthall an extremely prominent position facing the A6002, less than 1 mile from the M1 and only 4 miles from Nottingham city centre.

An opportunity to acquire a prime leisure investment.

– Nottingham is one of England’s core cities and is regarded as the economic powerhouse for the East Midlands.
– Let to the highly successful and expanding chain Hickory’s Smokehouse on a 25-year FRI lease from 1 April 2021 subject to a tenant option to break on 1 April 2036.
– Rental income of £125,000 per annum (the Base Rent excluding Turnover Rent) subject to five yearly reviews.
– The Turnover Rent is 10% of the amount by which turnover exceeds £2,080,000 per annum. The current projected Turnover Rent is in excess of £200,000 per annum.
– GIA of c.12,100 sq. ft.
– Freehold.
– The property was fully refurbished in 2021.
– Site area of approximately c. 2.5 acres.
– Strong underlying VP value and site value.

We are instructed to seek offers in excess of £2.5m (Two Million Five Hundred Thousand Pounds) subject to contract and exclusive of VAT.

A purchase at this price reflects:

a Net Initial Yield of 4.7% in respect of the Base Rent.
a Net Initial Yield of 12.2% in respect of the Base Rent and Turnover Rent combined.

assuming purchasers costs of 6.38%