1 Finch Close, Lenton Lane, NG7 2NN
£825,000
£130.35 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
6,329 sq ft
588 sq m
- SECTOR
Warehouse for sale
- USE CLASSUse class orders: B2 General Industrial, B8 Storage and Distribution and Class E
B2, B8, E
Key features
- Highly prominent, single let, motor trade / warehouse investment.
- 588 sq m (6,329 sq ft) 0.46 acre site.
- Single Let to Sandicliffe Ltd.
- Rent Passing £55,000 per annum.
- Lease Expiry March 2033 - 7 years, 8 months unexpired.
- Tenant only Break Clause and Rent Review in March 2028.
- Nearby occupiers include Sytner BMW and Mini, Tile Mountain and Graypaul Ferrari.
Description
Location
The property is prominently located on the corner of Finch Close and Lenton Lane. Lenton Lane runs parallel to the A52 trunk road (Clifton Boulevard, Nottingham ring road).
The surrounding commercial area is considered as Nottingham prime, with nearby occupiers including:-
- Showcase Cinema de Lux
- University of Nottingham
- Sytner BMW
- Sytner Mini
- Graypaul Ferrari
- Big Yellow Self-Storage
- Screwfix
- Tile Mountain
- Nottingham Audi
The adjacent A52 provides convenient access to the M1 at J24, J25 and J26, with Nottingham city centre being approximately one mile to the northeast.
Description
The Subject Property comprises a detached industrial building which was purpose built for the former occupiers use as a commercial tyre and exhaust centre.
The building is of steel portal frame construction with full height brick elevations underneath a pitched roof with circa 10% translucent roof lights.
Internally, the unit has a trade counter style reception with further offices and staff facilities immediately behind.
There are three full height electric roller shutters and the minimum eaves height is 5 metres.
Externally, there is loading areas and circa 18 car parking spaces plus a loading apron in the gated and fenced site.
Size (GIA)
Warehouse
Ground Floor: 588 sq m (6,329 sq ft)
Site Area
0.46 acres (0.18 hectares)
Tenure
The property is held Long Leasehold under Title Number - NT191566.
The lease is for a term of 125 year from 25 March 1981 at a peppercorn. There is therefore 81 years unexpired.
The freehold interest is owned by Nottingham City Council.
Covenant
The property is let in its entirety to:-
Sandicliffe Limited (Company Number: 03193805)
Experian Credit Rating 100 - Very Low Risk
Sandicliffe is a privately owned business with 11 dealerships across the East Midlands representing Ford, BYD, MG, Mazda, Maxus, GWM, XPENG along with their approved Used Cars.
Their accounts ending 31 December 2023, reported a turnover of £312,673m with a Total Net Worth of £25,963m.
For more information visit their website (see brochure for link)
Sandicliffe's main dealership is located directly opposite the Subject Property on the other side of Lenton Lane.
Tenancy
The Subject Property is Let on the following terms:-
Tenant
Sandicliffe Limited.
Lease Date
2 March 2023 expiring 1 March 2033 (7 years, 8 months unexpired).
Break Clause
2 March 2028, subject to six months written notice (2 years, 8 months unexpired).
Repairs
Full Repairing subject to a Schedule of Condition.
Insurance
Landlord Insures and Recharges.
Price
The property is available to buy at a price of:-
£825,000 (Long Leasehold)
which reflects a net initial yield of 6.32% after Purchaser's costs of 5.53% and a capital value of £130.00 per sq ft.
Planning
In May 2022, Nottingham City Council granted planning consent for the following:-
"Change of use from Sui-Generis (sale and fitting of tyres and exhausts) to E (g) (i-iii), B2 and B8"
EPC
The Property has an EPC Rating of:-
D - 90
and this is valid until September 2031.
VAT
The property is not VAT registered.
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.
The property is prominently located on the corner of Finch Close and Lenton Lane. Lenton Lane runs parallel to the A52 trunk road (Clifton Boulevard, Nottingham ring road).
The surrounding commercial area is considered as Nottingham prime, with nearby occupiers including:-
- Showcase Cinema de Lux
- University of Nottingham
- Sytner BMW
- Sytner Mini
- Graypaul Ferrari
- Big Yellow Self-Storage
- Screwfix
- Tile Mountain
- Nottingham Audi
The adjacent A52 provides convenient access to the M1 at J24, J25 and J26, with Nottingham city centre being approximately one mile to the northeast.
Description
The Subject Property comprises a detached industrial building which was purpose built for the former occupiers use as a commercial tyre and exhaust centre.
The building is of steel portal frame construction with full height brick elevations underneath a pitched roof with circa 10% translucent roof lights.
Internally, the unit has a trade counter style reception with further offices and staff facilities immediately behind.
There are three full height electric roller shutters and the minimum eaves height is 5 metres.
Externally, there is loading areas and circa 18 car parking spaces plus a loading apron in the gated and fenced site.
Size (GIA)
Warehouse
Ground Floor: 588 sq m (6,329 sq ft)
Site Area
0.46 acres (0.18 hectares)
Tenure
The property is held Long Leasehold under Title Number - NT191566.
The lease is for a term of 125 year from 25 March 1981 at a peppercorn. There is therefore 81 years unexpired.
The freehold interest is owned by Nottingham City Council.
Covenant
The property is let in its entirety to:-
Sandicliffe Limited (Company Number: 03193805)
Experian Credit Rating 100 - Very Low Risk
Sandicliffe is a privately owned business with 11 dealerships across the East Midlands representing Ford, BYD, MG, Mazda, Maxus, GWM, XPENG along with their approved Used Cars.
Their accounts ending 31 December 2023, reported a turnover of £312,673m with a Total Net Worth of £25,963m.
For more information visit their website (see brochure for link)
Sandicliffe's main dealership is located directly opposite the Subject Property on the other side of Lenton Lane.
Tenancy
The Subject Property is Let on the following terms:-
Tenant
Sandicliffe Limited.
Lease Date
2 March 2023 expiring 1 March 2033 (7 years, 8 months unexpired).
Break Clause
2 March 2028, subject to six months written notice (2 years, 8 months unexpired).
Repairs
Full Repairing subject to a Schedule of Condition.
Insurance
Landlord Insures and Recharges.
Price
The property is available to buy at a price of:-
£825,000 (Long Leasehold)
which reflects a net initial yield of 6.32% after Purchaser's costs of 5.53% and a capital value of £130.00 per sq ft.
Planning
In May 2022, Nottingham City Council granted planning consent for the following:-
"Change of use from Sui-Generis (sale and fitting of tyres and exhausts) to E (g) (i-iii), B2 and B8"
EPC
The Property has an EPC Rating of:-
D - 90
and this is valid until September 2031.
VAT
The property is not VAT registered.
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.
Brochures
1 Finch Close, Lenton Lane, NG7 2NN
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Wilford Lane Tram Stop1.0 miles
- Station St Tram Stop1.4 miles
- Nottingham Station1.4 miles
Notes
These notes are private, only you can see them.
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