5 High Street, Long Eaton, Nottingham

Description

Description

Fully let mixed-use investment producing £44,579.04 pa, with an estimated reversionary income of approximately £75,000 pa.

The retained accommodation is let in its entirety to Righthouse Estate Agents Ltd under a single lease expiring 12 December 2027 and comprises 8 self-contained one- and two-bedroom residential apartments together with 2 ground-floor commercial units. A further 9 apartments within the building have previously been sold on long leases, with the freehold reversion retained.

The apartments comprise living areas, separate bedrooms and bathrooms. These are generally finished with laminate flooring and electric central heating. kitchens incorporate an electric oven, hob and extractor. The apartments are arranged around a pleasant gated courtyard. The two commercial units are separately accessed and front High Street.

Accommodation

Areas have been provided by the client and should be confirmed.

Location

Long Eaton is a market town in the Erewash Borough, approximately 6 miles south-west of Nottingham and 9 miles south-east of Derby.

The property occupies a prominent corner position on High Street within the town centre. Nearby national occupiers include Specsavers, B&M, Boots and Greggs. The town centre is currently undergoing a £10 million regeneration of High Street and Tamworth Road, with works having commenced in June 2026 and scheduled for completion in spring 2027.

Planning

The property was granted planning permission for a change of use to form 2 commercial units (Class E) and the creation of 14 residential apartments ref: ERE/0912/0030. Planning permission for a further 3 residential apartments was granted ref: ERE/0414/0024. We understand the building is situated within the Long Eaton Conservation area. All parties should confirm the planning position with the relevant Local Authority.

VAT

All figures are quoted exclusive of VAT. We are advised the building is not registered for VAT.

Services

All mains services with the exception of gas are connected to the property. Each of the units have their own electric sub meters and mains water meter. The agents give no guarantee in respect of connectivity or capacity and interested parties must rely on their own investigations.

Tenure Comments

Mixed-use investment for sale freehold. The 8 retained residential apartments and 2 commercial units are let to Righthouse Estate Agents Ltd under a 3-year lease expiring 12 December 2027 at a rent of £44,579.04 per annum. Righthouse is responsible for the sub-letting, management and administration of the service charge. Under the lease, Righthouse is responsible for internal and external repair and decoration, save that the landlord is responsible for keeping the main walls, roof and foundations windproof and watertight.

The freehold includes a further 9 apartments which have previously been sold separately on long leases that commenced 2010 at a peppercorn ground rent. Flats 1, 3, 7, 10 and 13 are 125 years (expiring 1 January 2135) and Flats 5, 8, 15 and 16 are 999 years (expiring 1 January 3009). Each long leaseholder contributes through the service charge towards building repair, maintenance, insurance and management expenditure

EPC

Flat 2 & Flat 12 D(66), Flat 4 D(59), Flat 6 C(71), Flat 9 C(70), Flat 11 C(77), Flat 14 D(63), Flat 17 D(64)

Viewing

Please contact us or visit www.omeeto.co.uk for full details and a virtual tour. Physical viewings with proceedable parties can be arranged on request by contacting OMEETO or our joint agents Righthouse Estate Agents Ltd. The agents do not take any responsibility for any loss or injury caused whilst carrying out a site visit.

Rates Comments

Each apartment has a Council Tax banding of A. The commercial units are currently listed as a shop and premises on VOA.gov.uk. Unit 1 has a RV of £4,150 and Unit 2 has a RV of £5,900.

Key features

• Fully let mixed-use investment
• 8 residential apartments & 2 commercial units
• Producing £44,579.04 per annum
• Estimated reversionary income: c. £75,000 pa
• Let to Righthouse Estate Agents Ltd until 12 Dec 2027
• Freehold includes 9 additional apartments previously sold off