Private investor snaps up Grade II listed building

A Grade II listed terrace building in Nottingham city centre has been sold to a private investor for £1.6m.

The ground and first floors of the three-storey, 19,280 sq ft building at 50-52 Long Row are currently occupied by British Heart Foundation, generating a rent of £90,000 per annum.

Savills, which completed the deal on behalf of private clients, says the building includes self-contained space on the second and third floors which has the potential for redevelopment subject to planning consent.

Victor Ktori, head of office for Savills Nottingham, said: “This prime city centre building provided the purchaser with an excellent opportunity to acquire a strong income producing asset with the possibility for future redevelopment. Due to the property’s great credentials we were able to achieve above the original guide price on behalf of our client.”