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Lower Parliament St 27,811 SF 100% Leased Retail Building Nottingham NG1 3DA $3,943,968 ($141.81/SF) 10.33% Cap Rate
Investment Highlights
- Excellent transport links
- Very busy city centre position opposite the Victoria Centre
- Resident population of 337,100
Executive Summary
Let to Poundland Limited and Bon Marche Limited
Long Leasehold 125 years from 10/07/2007 to 09/07/2132 at a peppercorn rent
Redevelopment potential – planning granted in 2024 to take the building to 5 storeys for conversion to 104 student beds
Vacant 9,116ft² sqft basement in shell and core condition suitable for future asset management by creating potential leisure space.
Long Leasehold 125 years from 10/07/2007 to 09/07/2132 at a peppercorn rent
Redevelopment potential – planning granted in 2024 to take the building to 5 storeys for conversion to 104 student beds
Vacant 9,116ft² sqft basement in shell and core condition suitable for future asset management by creating potential leisure space.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Property Subtype
Storefront
Building Size
27,811 SF
Building Class
C
Year Built
1990
Price
$3,943,968
Price Per SF
$141.81
Cap Rate
10.33%
NOI
$407,412
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.45
Lot Size
0.44 AC
1 1
Nearby Major Retailers
1 of 2
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Lower Parliament St
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