Summary - 25, GOOSE GATE NG1 1FE
1 bed 1 bath Restaurant
**Standout Features:**
- Fully let to RO RO RI Limited (trading as Pogo) with a passing rent of £30,000 per annum.
- Prime location in Nottingham's creative quarter, Hockley, surrounded by vibrant bars and restaurants.
- Large property spanning over 2,300 sq ft, currently fitted as a cocktail bar.
- Freehold tenure with a 3-year remaining lease, yielding 8.51%.
**Potential Concerns:**
- Short remaining lease term may limit mortgage options.
- High crime rate in the area may be a consideration for some investors.
- Solid brick walls with no insulation could pose heating and maintenance challenges.
This expansive freehold investment in Hockley offers a prime opportunity for astute investors seeking a well-established leisure asset. Currently operating as a cocktail bar, the venue spans 2,343 sq ft across three levels, providing ample space for patrons. With a robust annual return and a thriving locale filled with complimentary establishments like Brewdog and Pho, this property positions itself as an attractive investment in a cosmopolitan neighborhood frequented by both locals and students.
While the property boasts strong rental income, potential buyers should be aware of the short remaining lease term, which could cause financing hurdles. Additionally, the building's age and construction might require future attention, particularly concerning insulation and upkeep of the Victorian charm. However, the vibrant Hockley area, coupled with unique planning permissions for further development, ensures that this property holds lucrative future potential. Don’t miss out on this opportunity; such investments rarely remain on the market for long.
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