Key features
- Planning permission for 100 student beds
- Site area of 0.4 acres with income of £22,500 pa currently being received
- Close to both Nottingham University and Nottingham Trent Univesity
- No offsite affordable housing contribution
Description
The site has planning permission for a 100-bedroom student accommodation development consisting of studios and cluster bedrooms served by kitchen accommodation. The planning also includes a central courtyard and communal area on the ground floor. (Planning reference 21/00001/PFUL3).
Freehold subject to an occupational lease of part of the site for a term of 20 years from the 5th of December 2012 at a current passing rent of £22,500 pa. There is an upwards only rent review due 5th December 2022 to the higher of the open market, index-linked rent or £25,000 pa.The lease is personally guaranteed and is outside the security of tenure provisions of the Landlord and Tenant act and incorporates a rolling landlord break option. A copy of the lease is available from the online information pack.
Offers are invited on an unconditional basis for the entire site
The site can be viewed from the public highway but please notify the agent of any viewings. Please note that Innes England and/or the Vendor take no responsibility for any loss or injury caused whilst carrying out a site visit.
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