The property comprises an imposing Grade II Listed office building arranged over lower ground, ground and three upper levels being of a traditional brick construction with attractive architectural dressed stone and brick detailing under an interlocking pitched and hipped roof with slate covering conceived in a vaguely Italianate style.
The property incorporates attractive arched fenestration providing a combination of traditional timber framed and metal framed sash and crittle windows, together with two pairs of field and raised entrance doors with cast iron rainwater goods.
The top floor is set back from the main elevational building line and incorporates a central pediment.
Internally, the accommodation is configured to provide attractive, generally open plan office accommodation, incorporating numerous period features with excellent ceiling heights.
Location
Nottingham is a major city in the East Midlands, within the heart of England with excellent transport links, rapid access to the Motorway system, a major railway station and a comprehensive public transport network. The city lies approximately 128 miles north of London, 51 miles north east of Birmingham and 73 miles south of Leeds. Road communications are excellent with the M1 providing routes north and south and the A50 giving a direct link to Derby and the west. The train station located to the south of the city centre provides direct trains to London St Pancras International Train Station with a journey time of approximately 1 hour 41 minutes.
Nottingham has a population of approximately 305,680 (2011 census), with an average of over 62,000 full time students living across two universities. The local economy employs more than 300,000 people, and is growing at a faster rate than regionally or nationally. It is also one of the UK’s top 10 retail centres and one of only six designated Science Cities within the UK.
Situation - 48/50 St Marys Gate is centrally located in Nottingham City Centre and is situated at the southern end of St Marys Gate close to its junction with High Pavement and affording stunning views of the western elevation of St Marys Church and to the East over the City towards the Castle.
The immediate area is predominantly categorised by a mixture of attractive period residential and commercial properties within the popular Lace Market District having undergone significant gentrification and now providing an eclectic mix of boutique retailers, restaurants and bars, being particularly popular with SME’s in the creative sector.
The property is well located within a 10 minute walk from the main Market Square and the City Centre’s principal retail, leisure and tourist facilities, including Marks and Spencer, Whistles, Boss, Joules, Ted Baker, and restaurants including Iberico, Carluccio’s, Jamie’s Italian, Five Guys, Costa Coffee and Café Nero, to name a few.
Nearby occupiers include Kean’s Head Castle Rock, National Justice Museum, Lace Market Hotel, Cock & Hoop, Pitcher & Piano and the internationally acclaimed Nottingham Contemporary, to name but a few.
Accommodation
Measured in accordance with the RICS Code of Measuring Practice (6th Edition) on a net internal bases and are approximate for guidance purposes only.
Lower Ground Floor - 51.840 sq ft (558 sq m)
Ground Floor - 80.050 sq ft (862 sq m)
First Floor - 84.956 sq ft (914 sq m)
Second Floor - 90.452 sq ft (974 sq m)
Third Floor - 71.794 sq ft (773 sq m)
TOTAL - 379.092 sq ft (4,081 sq m)
The Gross Internal Area is estimated at 391.307 sq m (4,212 sq ft). In addition to which, there are landlord’s common areas extending to approximately 675 sq ft (62.71 sq m).
Terms
VAT - VAT will be applicable to the sale.
Tenure - Freehold.
Price - Offers in excess of £650,000 plus VAT.
Legal Costs - Each party to bear their own legal costs involved in this transaction.
Specification
- Unrivalled City Centre Lace Market location.
- Rare Grade II Listed self contained office building.
- Suitable for a variety of uses (subject to planning permission).
- Current income £40,210 per annum with scope for growth.
- Movement sensor lighting.
- Gas fired central heating.
- Lower ground floor kitchen and WC.
- Lower ground floor meeting rooms and storage.
- Communal WCs on each half landing.
- Air conditioning to the first, second and third floors.
- Excellent natural light.
- Security entry system.
- Kitchen in each tenant area.
- Grade 4 Fire Alarm.
- Fast Fibre Internet Connection.