342 & 342A Carlton Hill
Address
Prices
Offers in excess of £250,000
Size
NG Contacts
Download the property details
Overview
- Investment opportunity
- Prominent position on Carlton Hill
- Fully fitted ground floor retail unit
- Self-contained first floor flat
- High quality fit-out throughout
- Total passing rent £20,460 per annum exclusive
- Offers invited over £250,000 which reflects a net initial yield of 7.98%, having allowed 2.6% for purchaser’s costs
Location
Occupying a prominent position on Carlton Hill, this mixed-use investment is located in a well-established commercial setting that attracts steady footfall and strong tenant demand. The high street serves a densely populated residential catchment and provides access to major local routes connecting the town centre and surrounding suburbs, while nearby public transport links and on-street parking enhance it’s accessibility.
Description
The ground floor is a self-contained retail unit occupied and operated by ‘Project Pies‘, an established pie maker. The sales area boasts a modern high-quality fit-out with a complete bi-folding frontage, the rear is fitted out to provide kitchen bakery and provides further ancillary stores and welfare facilities.
To the first floor, there is a modern, well maintained three-bedroom flat spread over 2 storeys consisting of a living room/kitchen diner and a modern bathroom suite. The flat is currently rented out on an AST to private tenants.
Floor Area
Ground Floor Retail Sales - Available
12 sq m (129 sq ft)
Ground Floor Ancillary - Available
14 sq m (156 sq ft)
1st Floor Residential Flat - Available
66 sq m (714 sq ft)
Services
All mains services are evident within the property, but we can provide no warranty with regard to the capacity or connectivity.
EPC
Please contact the marketing agents for further information.
Tenure
Freehold, subject to and with the benefit of the occupational lease to Mr D Lione t/a Project Pies on the following terms:
Term: 5 years
Lease Commencement: 1st January 2023
Annual Rent: £9,000 per annum exclusive
Break Date: 31st December 2025 (not to be actioned)
Additionally, the first-floor residential flat is let on an Assured Shorthold Tenancy at a rent of £11,460 per annum.
Business Rates
Charging Authority: Gedling Borough Council
Description: Shop & Premises
Rateable Value: £8,000
Period: 2025/26
Guide Price
Offers invited over £250,000 which reflects an NIY of 7.98% having allowed 2.6% for purchaser’s costs.
VAT
VAT is not applicable to the price.
Legal Costs
Each party will be responsible for their own legal costs incurred in documenting the transaction.
Anti Money Laundering Policy
In accordance with Anti-Money Laundering Regulations, two forms of I.D. and confirmation of the source of funding will be required from the successful purchaser.
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