0116 255 1527

Peter Tew and Co.

pgt@petertew.co.uk

Under Offer

Property Type

Retail

Available

Under Offer

Square foot size

926

UNDER OFFER – RETAIL INVESTMENT – BINGHAM, NOTTINGHAM

Stainmore Court, Bowland Road, Bingham, NG13 8RW


Ground Floor Retail Sales 86.03 Sq.M. (926 Sq.Ft.) Approx.

Ancillary Ground Floor Storage 51.28 Sq.M. (552 Sq.Ft.) Approx.

Two, One Bedroom Self Contained First Floor Residential Flats

Freehold Price:  Offers in Excess of £395,000

LOCATION

The property fronts Bowland Road off Nottingham Road.  Bingham is located 9 miles east of Nottingham and 11 miles south-west of Newark-on-Trent.

DESCRIPTION

Retail sales occupied at ground floor with two residential flats above with separate access.  This investment property is Let as a whole to Rippleglen Limited on a lease with the tenants subletting the two residential flats above on AST.

THE ACCOMMODATION COMPRISES

GROUND FLOOR

Ground Floor
Retail Frontage

Retail Sales

Ancillary Storage & Office

17.38m

86.03 Sq.M.

51.28 Sq.M.

(57’)

(926 Sq.Ft.)

(552 Sq.Ft.)

Ground Floor

Total NIA 137.31 Sq.M. (1,478 Sq.Ft.) Approx

FIRST FLOOR

Residential Flats  No inspection made.  Advised one bedroom flats Let on Assured Shorthold Tenancies.

VAT

The property is not VAT registered.

SUBJECT TO CONTRACT

Freehold subject to a lease to Rippleglen Limited.  The lease is held for a term of 10 years from 3 February 2022 with the tenant keeping the property in good repair.  Rental passing in year 1 is £18,375 pax thereafter £24,500 pax until the rent review on 3 February 2027.  The landlord will rebate back to the purchaser the sum required in year one to show an effective rent of £24,500 pax.

RATING ASSESSMENT

The premises are assessed as follows:

Rateable Value:  Ground Floor:  £7,300

The rate liability may, however, be subject to transitional arrangements and we would advise that individual parties satisfy themselves as to the likely rates payable from the date of occupation by contacting the Local Authority.

SERVICES

Mains gas, electricity, water and drainage are connected.
Peter Tew & Company have not tested any service/installations and cannot provide a guarantee of their condition. Parties should investigate these facilities to their own satisfaction.

FIXTURES & FITTINGS

Landlords fixtures and fittings to be included within the sale.

FIRST FLOOR

Energy Performance Certificate – Available on request.

IMPORTANT INFORMATION

Peter Tew for themselves and for vendors or lessors of the property whose agents they are, give notice that; (i) these particulars do not constitute any part of any offer or contract; (ii) the particulars are set out as a general outline only for the guidance of intended purchasers or lessees and do not constitute part of, an offer of contract; (iii) all descriptions, dimensions references to condition and necessary permission for use and occupation, and other details are given without responsibility and any intended purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (iv) no person in the employment of Peter Tew and Co has any authority to give any representation or warranty whatever in relation to this property; (v) we have not tested any services, central heating installations, plumbing installations or electrical installations and therefore purchasers or tenants should undertake independent investigations as to condition of all services and mechanical/engineering installations; (vi) all rentals and prices are quoted exclusive of vat.  Intending purchasers or tenants must satisfy themselves as to the applicable vat position if necessary by taking appropriate independent professional advice; (vii) any site boundaries shown are indicative only (viii) Peter Tew and Co will not be liable for any loss arising from the use of these particulars.