1A Nottingham Rd | Ripley DE5 3DJ
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1A Nottingham Rd
Ripley DE5 3DJ
Jubilee House · Office Property For Sale
INVESTMENT HIGHLIGHTS
- Substantial mixed use town centre investment.
- Tenants include United Carpets (Property) Limited
- 2 commercial units & 14 self-contained flats above.
- Fully let producing £108,000 per annum equating to a net initial yield of 7.87%.
EXECUTIVE SUMMARY
Freehold – Subject to the existing tenancies.
1A Nottingham Road – Occupied by Foundry Gym and extending to 3,896 sq. ft. The Foundry Gym has been trading since 2014 and have carried out a comprehensive refurbishment of the premises.
1 Nottingham Road – Occupied by United Carpets (Property) Limited and extending to 4,947 sq. ft.
Upper floors – A total of 14 self-contained apartments comprising 9 x 1 bedroom, 3 x 2 bedroom apartments and 2 x studio apartments - all let on AST’s.
1a Nottingham Road - Foundry Gym - Lease start 11/08/2017 - Lease expiry 05/01/2024 - Passing rent £15,000
1 Nottingham Road - United Carpets - Lease start 27/03/2021 - Lease expiry 26/03/2026 - Passing rent £18,000 per annum.
14 Upper floor apartments - ASTs - Passing rent £75,000 per annum.
Total rental income: £108,000 per annum
1A Nottingham Road – Occupied by Foundry Gym and extending to 3,896 sq. ft. The Foundry Gym has been trading since 2014 and have carried out a comprehensive refurbishment of the premises.
1 Nottingham Road – Occupied by United Carpets (Property) Limited and extending to 4,947 sq. ft.
Upper floors – A total of 14 self-contained apartments comprising 9 x 1 bedroom, 3 x 2 bedroom apartments and 2 x studio apartments - all let on AST’s.
1a Nottingham Road - Foundry Gym - Lease start 11/08/2017 - Lease expiry 05/01/2024 - Passing rent £15,000
1 Nottingham Road - United Carpets - Lease start 27/03/2021 - Lease expiry 26/03/2026 - Passing rent £18,000 per annum.
14 Upper floor apartments - ASTs - Passing rent £75,000 per annum.
Total rental income: £108,000 per annum
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
18,000 SF
Building Class
B
Year Built
1969
Price
$1,631,907
Price Per SF
$91
Cap Rate
7.87%
NOI
$128,431
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
6,000 SF
AMENITIES
- Accent Lighting
- Energy Performance Rating - D
- Air Conditioning
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