INVESTMENT FOR SALE: Four flats and two retail units situated in the heart of Lenton. Corner unit let to a laundrette for many years. Second unit let to a barbers. Access from Lenton Boulevard to the flats situated on the first and second floors over. Two studio units situated above No 12 and Two 1 bed flats situated over No 14. All flats let to professionals on an unfurnished basis.

Ideal for an investor with vision to improve income via active management - refurbish, extend or re-organise subject to PP. Block viewings available - please contact CP Walker & Son to arrange a tour. Virtual tours of the flats available with a sales pack on request.

Location
The property is situated on Lenton Boulevard, in the heart of the suburb of Lenton, 1 mile to the West of Nottingham city Centre. Lenton is a popular residential area, particularly with students due to its location between University Park and the city centre and proximity to the more recent Jubilee Campus.

Lenton Boulevard, Castle Boulevard and Derby Road provide the neighbourhood shopping facilities. There is a large Sainsburys nearby at Castle Maria and local shopping facilities at Tesco on Castle Boulevard and Sainsburys on Derby Road.

Floor Plans
The Floor Plan shows the layout of the property. The retail units at ground floor level are self contained. The flats are located in the first and second floor, accessed via a communal staircase situated from an entrance between the two retail units off Lenton Boulevard. The Title Plan shows the extent of the ownership to include the forecourt to the front and passageway to the rear with right of way to rear of No 10 Lenton Boulevard.

12 Lenton Boulevard
12 Lenton Boulevard is a retail unit operating as Star Barbers Shop. It has a net internal floor area of 33.6 sq. m (362 sq. ft). The tenant is holding over on an internal repairing and insuring lease granted for a period of 6 years from 13 January 2017 at a rent of £6,000 per annum payable monthly in advance.

14 Lenton Boulevard
14 Lenton Boulevard is a retail unit operating as The Doby Wash Laundrette. It has a net internal floor area of 48.9 sq. m (527 sq. ft). The tenant is holding over on an internal repairing lease granted for a period of 6 years from 12 September 2014 at a rent of £6,600 per annum payable monthly in advance.

Yard
There is a yard situated to the rear of the retail units with access from both retail units. There is a water storage tank situated within the yard for the laundrette. There are double gates from the yard on to Hart Street. There is potential for development of this area subject to obtaining planning consent.

Flat 1, 12 Lenton Blvd
12.1 Lenton Blvd is a studio flat of 38 sq. m situated in the first floor with bed / living room, kitchen and bathroom. It is let on an unfurnished basis by way of periodic AST. (Tenancy commenced Sept 18). Electric heating. Double glazed windows. The rent from 1 April 2024 has been increased to £500pcm.

Flat 2, 12 Lenton Blvd
12.2 Lenton Blvd is a studio flat of 28 sq. m situated in the second floor with bed / living room, kitchen and bathroom. It is let on an unfurnished basis by way of periodic AST. (Tenancy commenced Oct 19). Electric heating. Double glazed windows. The rent from 1 April 2024 has been increased to £450pcm.

Flat 1, 14 Lenton Blvd
14.1 Lenton Blvd is a 1 bed flat of 37 sq. m situated in the first floor with living room, kitchen, bedroom and shower room. It is let on an unfurnished basis by way of periodic AST at a rent of £425pcm. (Tenancy commenced June 20). Electric heating. Double glazed windows. The rent from 1 April 2024 has been increased to £500pcm.

Flat 2, 14 Lenton Blvd
14.2 Lenton Blvd is a 1 bed flat of 44 sq. m situated in the second floor with living room, kitchen, bedroom and shower room. It is let on an unfurnished basis by way of periodic AST. (Tenancy commenced July 20). Electric heating. Double glazed windows. The rent from 1 April 2024 has been increased to £550pcm.

Occupational Leases
Each of the residential properties are let on Assured Shorthold Tenancies and periodic tenancies following the expiry of the initial fixed term. The properties are all let on an unfurnished basis. Rents total £2,000 pcm or £24,000 pa. There is potential to increase rents to market levels or adapt and improve premises / let furnished to create significant additional value. The two commercial units are let by way of continuation tenancies following the expiry of the fixed term. Rents total £1,050 pcm or £12,600 pa. The total income is £3,050 pcm or £36,600 pa

Asset Management
The properties have historically been let on an unfurnished basis to professional occupiers. Some refurbishment has taken place but there is significant potential to refurbish and improve the income stream.

Asking Price
Offers are invited for the property in the region of £575,000

Information Pack
The following information is available on request:

Tenancy schedule
Floor and Site Plans
Internal Photographs and Virtual Tours of the Flats
Sample Tenancy Agreement
Title Documents
EPCs

EICRs etc will be provided during the due diligence period

EPC Rating
12 (Barbers) D:90, 12.1 (Studio) E:45, 12.2 (Studio) D:59
14 (Laundrette) B:42, 14.1 (1 bed) D:55, 14.2 (1 bed) D:55

Viewing
Viewings are strictly by appointment and on specified open days.

Further Information
Please contact Mark Finnigan, Brenton Smith or Caroline Baker on[use Contact Agent Button] [use Contact Agent Button]