EPF identified this property- situated in the fashionable Lace Market and Hockley districts in the heart of Nottingham- as having enormous potential for additional value and growth.
The area is renowned for its eclectic mix of artisan, boutique and national/multiple operators, servicing the huge demand from students, locals and tourists alike. The area has recently benefited from largescale regeneration, including a multi-million pound restoration and refurbishment of the boutique Mercure Hotel -considered one of the city's finest hotels- directly opposite the property.
The property is occupied by a popular and locally-renowned Thai restaurant and covers three storeys.
Investment rationale and Asset management:
High yielding investment with short-medium term added value opportunities.
- Bought off low capital value per sq ft
- High (double-digit) yield purchase price, representing excellent cashflow from well established operator.
- Directly opposite one of city's best hotels, recently subject to multi-million pond refurbishment.
- Short lease length, presenting opportunity to regear, relet to stronger covenant or consider
- Excellent leisure pitch, in heart of city centre, just a few minutes walk from Nottingham Arena, theatres, Galleries of Justice and shopping mall.
- Area has undergone major regeneration and considered one of most fashionable parts of the city.