OFFICE INVESTMENT
For Sale - Carlton Business and Technology Centre, Station Road, Carlton, Nottingham, NG4 3AA
SUMMARY
savills.co.uk
◆◆
Prominent building.
◆◆
Close to Nottingham City Centre
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Flexible accommodation.
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100% occupancy.
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Development potential (STPP).
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Substantial opportunity to increase yield.
savills.co.uk
LOCATION
Carlton is located approximately 5.3 km (3.3 miles) to the north east of Nottingham
city centre and can be easily accessed via Carlton Hill (B686) or the Colwick Loop
Road (A612).
Carlton is directly linked to The Midland Mainline (London St Pancras 1 hour 45
minutes), Nottingham East Midlands Airport provides direct flights to 90 international
destinations and the city’s modern tram system carries an estimated 9.5M
passengers every year.
SITUATION
The property occupies a prominent corner site at the junction of Station Road and
Wallace Avenue lying to the north of Carlton mainline station within a predominantly
residential district.
Nearby occupiers include Good Foundations Day Nursery and Carlton Nottinghamshire
Fire & Rescue Service. Victoria Retail Park is within close proximity.
THE PROPERTY
Carlton Business and Technology Centre is a three storey former girls school
constructed in approximately 1896 from solid brick under a pitched slate roof and
set over three storeys with ground floor, sub-basement and first floor.
The building ceased to be used as a school in 1978 and in 1990 it was comprehensively
refurbished and converted into a business centre by Gedling Borough Council. It was
subsequently purchased by the current tenant owner and further modified.
The property benefits from substantial surfaced car park with approximately 44
defined car spaces and approximately 10 ancillary parking positions.
The centre provides flexible accommodation with 25 suites ranging from 120 sq ft to
1,260 sq ft finished to a good specification.
Further amenities include various meeting rooms and the property is fully DDA compliant.
ACCOMMODATION
Measured in accordance with the RICS Code of Measuring Practice (6th Edition), we
calculate the property provides the following net internal area:
1,651.822 sq m (17,780 sq ft)
This includes ancillary areas and of this approximately 1,125.99 sq m (12,120 sq ft)
comprises office suites.
TENURE
The property is held freehold.
TENANCIES
SUITE NO.
AREA
TENANT
RENT PA
1
506
OSTOMART
£51,924
2
506
3
506
6
368
7
604
8
1,084
9
1,260
10
894
4
514
BARLOW & BENNETT LTD
£5,940
5
255
DUAL COMPUTERS
£3,843
11
189
GROVE DESIGN
£3,543
12
512
MOTIF CREATIVE
£5,480
13
512
HADFIELDS ACCOUNTANTS
£5409
14
512
LAWRENCE AUTOMOTIVE
£5,949
15
512
MARSHALL SMALLEY ACC.
£9,282
16
368
17
539
IND. FINANCIAL SERVICES
£5,676
18A
166
HUMAN SUPPORT GROUP
£13,138
18B
153
18C
316
19
731
CONTACT TELECOM
£2,914
20
488
AGT
£4,027
21
125
UK ELEVATORS
£2,810
22
125
LAWRENCE AUTOMOTIVE
£2,640
23
125
RAY BOTTOMLEY
£2,880
24
125
I CHOOSE PROJECTS
£2,760
25
125
JOHN O’NEALE
TOTAL
12,120
£2760
£129,975
With the exception of Ostomart, whose lease is for a term of five years expiring
31 March 2017, the balance of the tenancies are on rolling three month licences.
2
34
Fire Station
RATEABLE VALUE
30
26
22
28
29.9m
a
34
23
33
b
34
31
EPC
30
32
R
47
N
IO
35
Carlton Business
and
Technology Centre
29
S
T
TA
D
OA
25
The property has the following EPC Rating: E 113
VAT
21
All tenants are responsible for their own Business Rates.
VAT is applicable at the prevailing rate.
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Wa
y
Bd
PRICE
Offers are invited in the region of £850,000, reflecting a net initial yield of 14.45%,
subject to contract exclusive of VAT assuming standard purchasers costs at 5.8%.
2
1
o2
1t
WA
E
AC
LL
12
11
UE
EN
AV
BU
RL
HC
22
1
E IG
LO
SE
NOTE - Published for the purposes of identification only and although believed to be correct its accuracy is not guaranteed.
Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office © Crown copyright
licence number 100024244 Savills (UK) Limited.
0m
10m
20m
30m
Ordnance Survey © Crown Copyright 2015. All rights reserved.
Licence number 100022432. Plotted Scale - 1:779
NOTE - Published for the purposes of identification only and although believed to be
correct its accuracy is not guaranteed. Reproduced from the Ordnance Survey Map
with the permission of the Controller of H.M. Stationery Office © Crown copyright
licence number 100024244 Savills (UK) Limited.
Savills Nottingham
9 Fletcher Gate, Nottingham NG1 1QQ
+44 (0) 115 934 8000
[email protected]
Viewing
Strictly by appointment only with the
Sole Agent Savills.
Ordnance Survey © Crown Copyright 2015. All rights reserved.
Licence number 100022432. Plotted Scale - 1:175000
Victor Ktori
T: +44 (0) 115 934 8171
E: [email protected]
Christine Thorn
T: +44 (0) 115 934 8152
E: [email protected]
NOTE - Published for the purposes of identification only and although believed to be correct its accuracy is not guaranteed. Reproduced from the Ordnance Survey Map
with the permission of the Controller of H.M. Stationery Office © Crown copyright licence number 100024244 Savills (UK) Limited.
Important Notice
Savills, their clients and any joint agents give notice that:
1. They are not authorised to make or give any representations or warranties in relation to the property
either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no
responsibility for any statement that may be made in these particulars. These particulars do not form part of any
offer or contract and must not be relied upon as statements or representations of fact.
2. Any areas, measurements or distances are approximate. The text, images and plans are for guidance only
and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning,
building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers
must satisfy themselves by inspection or otherwise.