Nottingham retail investment hits the market with £1.3 million price tag
A substantial retail investment in Nottingham has been brought to the market by property agents Bond Wolfe.
Commodore Court includes a prominent corner ground floor unit at Unit 1, Nuthall Road, offering a total of 8,159 sq ft.
The property is let in its entirety to Community Health and Eyecare Ltd for ten years from June 2021 at a passing rent of £89,749 per annum, with a rent review and break clause in June 2026.
Bond Wolfe is seeking offers based on £1.3 million plus VAT for the long leasehold interest. A purchase at this level would reflect a net initial yield of 6.51%, after the purchaser’s costs of 5.99%.
James Mattin, managing director agency at Bond Wolfe, said: “Community Health and Eyecare Ltd is an NHS provider and Unit 1 is the predominant unit of the wider 15,039 sq ft Commodore Court scheme, with other neighbouring occupiers including Barnardo’s.”
Based in Birmingham, Bond Wolfe is enjoying exceptional success, reporting a record first six months of the year, with the recent auction taking group turnover over £115 million year to date.
In the first six months of 2022, the agency division of Bond Wolfe recorded sales of £28.4 million, finishing the first half with a further £6.1 million in legal.
Highlights include the sale of Waterloo Court in Wolverhampton for £2.8 million, Cridden Industrial Estate in Stourbridge for £1.115 million, a Leamington Spa investment for £1,595,000, a student accommodation residential investment in Birmingham for £11,610,000, and £2.25 million for a portfolio of residential sites in Acocks Green and Smethwick, Birmingham.