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12 Queens Bridge Rd 22,638 sq ft Industrial Property Nottingham NG2 1NB £950,000 (£41.96/sq ft) 6.49% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Prominent landmark building situated in Nottingham City Centre
- Potential redevelopment of the site or reuse of the existing building should the existing tenant vacate
- Frontage to both Traffic Street and Queensbridge Road/Sheriffs Way
EXECUTIVE SUMMARY
Currently let and occupied by Castle Rock Brewery producing £52,099 Per Annumwith an outstanding Rent Review (March
2022). Current passing rent reflects £2.30/ ft2 with reversionary growth possible.
• Potential redevelopment of the site or reuse of the existing building should the existing tenant vacate.
• For Sale subject to the existing leases to Castle Rock Brewery and telecommunications agreement.
In addition to the above, there is a third lease
relating to a Telecommnications mast fitted
to the tower block. The lease is for 15 years
from 2nd December 2011 and will expire
1st December 2026. There is a rent payable
of £9,550 Per Annum which is reviewed
every 5th year anniversary. This lease is
made between Floor Maintenance Services
Holding Limited (Landlord), Tynemill Limited
(Tenant) and T-Mobile Limited (Licensee); we
understand that Tynemill receive the whole
rent as part of this agreement.
2022). Current passing rent reflects £2.30/ ft2 with reversionary growth possible.
• Potential redevelopment of the site or reuse of the existing building should the existing tenant vacate.
• For Sale subject to the existing leases to Castle Rock Brewery and telecommunications agreement.
In addition to the above, there is a third lease
relating to a Telecommnications mast fitted
to the tower block. The lease is for 15 years
from 2nd December 2011 and will expire
1st December 2026. There is a rent payable
of £9,550 Per Annum which is reviewed
every 5th year anniversary. This lease is
made between Floor Maintenance Services
Holding Limited (Landlord), Tynemill Limited
(Tenant) and T-Mobile Limited (Licensee); we
understand that Tynemill receive the whole
rent as part of this agreement.
PROPERTY FACTS Sale Pending
| Price | £950,000 | Costar Property Class | C |
| Price per sq ft | £41.96 | Total Plot Size | 0.36 ac |
| Sale Type | Investment | Net Internal Area (NIA) | 22,638 sq ft |
| Yield | 6.49% | No. Floors | 3 |
| Tenure | Freehold | Year Built | 1890 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 3 |
| Price | £950,000 |
| Price per sq ft | £41.96 |
| Sale Type | Investment |
| Yield | 6.49% |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Costar Property Class | C |
| Total Plot Size | 0.36 ac |
| Net Internal Area (NIA) | 22,638 sq ft |
| No. Floors | 3 |
| Year Built | 1890 |
| Tenancy | Single |
| No. Drive In / Grade-Level Doors | 3 |
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12 Queens Bridge Rd
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