41 Staindale Drive, Nottingham, Nottinghamshire, NG8 5FU
- Unconditional Online Auction Sale
- Guide Price* : £580,000 plus
- Bedrooms: 4
A Well Let Freehold Supported Living Investment - Producing a rent equivalent to £39,520 Per Annum
Description
The property is let to Inclusion Housing Community Interest Company until 2042 (no breaks) with Annual rental increases in line with Consumer Price Index from April 2021. It is held in a Single Purpose Vehicle (SPV), which is available under separate negotiation.
Tenure
Freehold
Accommodation
The property is situated in the Aspley area of Nottingham, with Nottingham City Centre lying some 2.1 miles to the south east and the Nottingham University Hospital approximately 2.9 miles to the north east. The immediate surroundings comprises a predominantly residential area of detached and semi detached homes. There are a range of local amenities close to hand, with the Melbourne Park Medical centre and the open spaces of Melbourne Park nearby. A range of local and national shops are in the immediate vicinity including a hairdresser, a petrol station, Greggs The Bakers, Halfords and Domino’s Pizza.
The property is a substantial specialist supported living care home comprising 4 bedrooms and extending to approximately 105.20 Sq M (1,132 Sq Ft) . The property benefits from front and rear gardens and off-street parking.
Tenancy Details
The property is let to INCLUSION HOUSING COMMUNITY INTEREST COMPANY for a term of 22 years from 31/01/2020 on a full repairing and insuring lease at a rent of £39,520 pax.
The rent is reviewed annually from April 2021 with reviews linked to the Consumer Price Index (CPI), with the first review taking place on the first Monday in April 2021.
Inclusion Housing Community Interest Company (CRN 061 69583) was incorporated in March 2007 and, for the year ending 31st March 2019, reported a turnover of £28,287,000, pre-tax profits of £1,882,000 and a total net worth of £4,269,000 (Source: Experian Group 14/01/2020)
Vendors Solicitor
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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Vendors Solicitor
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