A Grade II listed building situated in the centre of Nottingham has been sold for more than £1.5 million to a private investor.
The three-storey terrace property in Long Row is currently home to the British Heart Foundation charity shop, which inhabits the basement, ground and first floors.
It generates around £90,000 per year in rent for the owner.
Savills, an estate agent in Nottingham, said the property sold for £1.590 million and detailed how there is room for potential redevelopment on the second and third floors.
The upper floors, which make up the 1,791 square-metre building, are currently not used and could be redeveloped 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."
The building stands next to the Slug and Lettuce and the former Habitat store, which lies vacant.
Plans have been submitted for a new KFC restaurant in the former Habitat store, which is also Grade II listed.
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