The Hub | 22-48 Friar Ln
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The Hub 22-48 Friar Ln
33,497 SF 97% Leased Office Building Nottingham NG1 6DQ $6,190,111 ($185/SF) 8.88% Cap Rate
Investment Highlights
- Prime CBD location adjacent to Old Market Square.
- Nearby student and residential development.
- Potential re-positioning opportunity.
- Substantially refurbished and providing onsite car parking spaces.
Executive Summary
Offers are invited in excess of £5,000,000 (five million pounds) for the freehold interest, subject to contract and exclusive of VAT.
A purchase at this level would reflect a net initial yield of 8.61% allowing for standard purchasers costs.
The Hub comprises a seven storey primarily office building, built of steel frame construction with curtain wall glazing providing stunning views of the City. The building has undergone a substantial refurbishment to provide good quality office accommodation served by a concierge, with both stair access and a two person passenger lift. Additionally there is onsite car parking provisions.
A purchase at this level would reflect a net initial yield of 8.61% allowing for standard purchasers costs.
The Hub comprises a seven storey primarily office building, built of steel frame construction with curtain wall glazing providing stunning views of the City. The building has undergone a substantial refurbishment to provide good quality office accommodation served by a concierge, with both stair access and a two person passenger lift. Additionally there is onsite car parking provisions.
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
33,497 SF
Building Class
B
Year Built/Renovated
1962/1988
Price
$6,190,111
Price Per SF
$185
Cap Rate
8.88%
NOI
$549,682
Percent Leased
97%
Tenancy
Multiple
Building Height
8 Stories
Typical Floor Size
4,187 SF
Slab To Slab
8’
Building FAR
0.61
Lot Size
1.26 AC
Amenities
- Storage Space
- Air Conditioning
- Balcony
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Available on terms to be agreed at an annual rent of £15,750.
| Space | Size | Space Use | Condition | Available |
| 4th Fl-Ste 4B | 1,065 SF | Office | Full Build-Out | Now |
4th Fl-Ste 4B
| Size |
| 1,065 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
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4th Fl-Ste 4B
| Size | 1,065 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
Available on terms to be agreed at an annual rent of £15,750.
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The Hub | 22-48 Friar Ln
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