£225,000

Retail premises for sale

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Under offer
Freehold

Offers in region of

£225,000

(£124.52/sq. ft)

Retail premises for sale

Church Street, Mansfield NG18

1,807 sq. ft

Local area information

Property location

Nearby amenities

  • Mansfield 0.1 miles
  • Mansfield Primary Academy 0.3 miles
  • REAL Alternative Provision School (SEN) 0.3 miles
  • Mansfield Woodhouse 1.2 miles

These distances are calculated in a straight line. The actual route and distance may vary.

Features and description

  • Freehold
Key Points

  • Prominent corner position in pedestrianised town centre
  • Adjacent and overlooking the Market Place
  • Let until 23rd January 2032 to Green Energy Solution (Midland) Ltd
  • Passing rental £22,500 per annum
  • Rent reviews in 2026 & 2029
  • Freehold Shop Investment

  • Description

    The subject property comprises a corner retail unit which is fully let and trading as Mobiles Fix. There are retail showrooms over two floors with storage and ancillary staff accommodation on the second floor.

    The premises have a Gross Frontage (to Market Place) of 4.85m and a return frontage of 9m.

    Location

    The subject property is prominently located on the corner of Church Street and Leeming Street in the heart of Mansfield. The property is located in the pedestrianised town centre opposite the open air Market Place. Surrounding occupiers include a mixture of National and Local retailers as well as High Street Banks.

    Mansfield is an established market town in North Nottinghamshire situated approximately 15 miles north of Nottingham and 24 miles south of Sheffield. Mansfield has a population of some 110,482 persons according to the 2021 Census.

    Availability_Text

    The accommodation comprises the following areas:

    Occupational Lease Details

    The property is let by way of an original 10 year lease from 24th January 2022 at a passing rental of £22,500 per annum exclusive. Therefore, there are approximately 8 years term certainty. There are rent reviews in 2026 and 2029.

    The tenant is a local company incorporated in 2014. The property trades as a mobile phone repair shop.

    Asking Terms

    The property is available to purchase freehold. We are inviting offers in the region of £225,000 (Two hundred and twenty five thousand pounds). A purchase at this level reflects a Net Initial Yield of 9.76% after allowing for normal purchaser costs. VAT in not thought to be applicable.

    Money Laundering Checks

    In order to comply with Anti-Money Laundering Legislation, the successful purchaser will be required to provide certain identification documents. The required documents will requested from the successful purchaser.

    More information

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    1. Zoopla
    2. Commercial for sale
    3. Nottinghamshire
    4. Mansfield
    5. Church Street

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