Investment for sale

LOCATION

The premises are located within Bingham Town Centre which is 1.5km East of the A46 Fosse Way, close to Market Place and Station Street.

The premises are adjacent the Robert Miles Junior School and behind The Village Kitchen with The Butter Cross Pub JD Wetherspoon and Frank Innes Estate Agents close by. There is a fire exit route out onto Station Street.

DESCRIPTION

The premises offer  a detached office building on ground and part first floors with gas fired central heating (not tested). There is an entrance reception and 4 main offices and kitchen to ground floor. There  are ladies and gents WCs to ground floor.

Staircase access to first floor office and meeting room with sloping roof line. There are a range of Velux roof lights in the pitched concrete tile clad roof and feature round window to the first floor.

ACCOMMODATION

GROUND

Ground floor offices  –    61.00 sq m (657 sq ft)  

First Floor Offices -         28.00 sq m (301 sq ft)

Net Internal Area –        89.00 sq m (958 sq ft)

Outside – Yard parking

TENURE & LEASE

Freehold subject to the residue of a 3 year lease from September 2024 on the whole to Blakethwaite Limited T/A Blades Insolvency Services with guarantors at £13,750 pax  payable quarterly in advance.

Leased on full repairing, insuring and decorating basis. The tenants have been in occupation for over 15 years. Break 29^th September 2026 and lease to 28^th September 2027.

Potential for rental growth on renewal or re-letting with passing rental at £14.35 sq ft including the car parking for these own front door offices in the Town Centre.    

RATING ASSESSMENTS

The VOA have assessed the premises:

Rateable Value  £6,900 (2026)

Interested parties should make their own enquiries. Qualifying occupiers should be able to obtain 100% Small Business Rate Relief on given it is under the £12,000 threshold.

BUILDINGS INSURANCE

The landlords insure the buildings and reclaim from the tenants the premium annually in advance by way of additional rental.

PLANNING

The premises have been used for over 15 years as offices which would form part of the

September 2020 Use Class update and B1(a) Offices are now part of the E Classification.

There may be potential for alternative uses should the premises become vacant either within E Class which includes retail, food and drink, financial and professional services, clinics and leisure uses or subject to planning for other uses.

The premises are not Listed but are situated within the Bingham Conservation Area. Close to the Butter Cross designed by TC Hine in 1861 and opposite the vacant Grade II Listed former Manor House

Interested parties should contact Rushcliffe Borough Council Planning Department (telephone:0115 9819911).

Neither the landlords nor New West Ltd offer any warranty in respect of the Planning (existing or proposed) or Building Regulations and interested parties must consult with the Local Planning Authority.

COMMERCIAL ENERGY PERFORMANCE CERTIFICATE

The premises are assessed as D86 expiring April 2031 and the EPC and Recommendations Report are available upon request.

LEGAL FEES

Each party to bear their own legal costs incurred in the transaction. However, there will be abortive legal fees undertaking required to pay the vendors fees should the buyers withdraw once solicitors instructed.

VAT

We understand that VAT is not applicable.  However, the position regarding VAT is reserved at all times.

MONEY LAUNDERING POLICY

In accordance with Money Laundering Regulations, two forms of ID and confirmation of the source of funding will be required from the successful tenant.