Mapperley site for sale

An Asda Express forecourt in Mapperley, Nottingham, is going to auction on March 27.

It has a guide price of £2.9m.

The particulars from the auctioneer Acuitus say the property comprises a recently rebranded, modern convenience store and petrol filling station with eight pumps beneath a steel canopy. The single-storey convenience store is approximately 2,833sq ft on a total site area of 0.83 acres.

The forecourt is currently let to Arthur Foodstores Ltd with AGA (authorised guarantee agreement) from Co-operative Group Ltd.

It is sited on a busy main road location, two miles north east of Nottingham city centre.

The original lease was for a term of 25 years from August 2007, which has been recently extended for a further five years and now expires on August 12, 2037. The rent reviews are fixed at 2.5% per annum compounded.