1 Nottingham Road, Ripley, Derbyshire, DE5 3DJ

Description

The property comprises a prominent ground floor corner unit at the junction of Nottingham Road and Booth Street. The property extends to 4,947 sq. ft. (459.75 sq m) and nearby occupiers include HSBC, Lidl, Wetherspoon and Costa Coffee. The property sits within Jubilee House which benefited from a new fibre glass roof was installed in 2023 with the benefit of a 10 year warranty.

The property is occupied by United Carpets and Beds and is fitted out to their usual corporate style

Location

Ripley is a popular active market town in the heart of the Amber Valley with excellent communication links across the region, being within close proximity to the A38 and A610. Amber Valley Borough Council’s town hall and the HQ for Derbyshire Constabulary are both located in Ripley. The property is located in the heart of the town centre and the nearby Market Place provides ample parking and also houses weekly open air markets on a Friday and Saturday.

Accommodation

Ground Floor – 4,947 sq. ft.

Tenure

Long leasehold. A new 999 year lease will be granted upon completion, at a peppercorn ground rent, subject to the occupational tenancy

Tenancy

The property is let in it’s entirety to United Carpets ( property) Ltd, trading as United Carpets & Beds for a term of 5 years from 27/03/2021 to 26/03/2026. The passing rent is £18,000 per annum and a copy of the lease is available upon request.
United Carpets and Beds is the UK’s largest franchised flooring and bed retailer. Family owned and run until its public offering in 2005, they currently have 57 stores operating across the UK.. See www.unitedcarpetsandbeds.com

Price

Offers based on £195,000 are sought for the long leasehold interest, equating to a net initial yield of 9.03% after usual purchaser’s costs.

Service Charge

There is a variable service charge payable as a proportionate contribution to management of common areas.

VAT

We are advised that VAT is applicable to the purchase price, although the sale is likely to be treated as a TOGC.

EPC

Available on request.

Legal Costs

Each party are to be responsible for their own legal costs that may be incurred in this transaction.

Anti Money Laundering

In accordance with anti-money laundering regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.