BULL CLOSE ROAD INVESTMENT SOLD BY FHP

Investment News

FHP acting on behalf of Foster-Gregory Limited have completed the sale of a long leasehold interest to Nottingham City Council, the freeholder.

A premium of £900,000 was paid by Nottingham City Council to acquire the long leasehold interest and merge the 2 interests.

Foster-Gregory held the property on a long lease expiring in 2070.   The ground rent was £22,537 per annum which is reviewable every 35 years.

Foster-Gregory through FHP in turn had under-let the warehouse and office premises to A-Plant on a lease for 15 years, with a break clause in June 2021, at a rent of £130,000 per annum.

FHP represented Foster-Gregory Limited throughout, whilst Nottingham City Council represented themselves.