£1,600,000
Retail premises for saleGlaston Road, Morcott, Oakham, Rutland LE15
Just added
About this property
Asset management and investment opportunity
2 commercial units & 10 residential apartments
Passing rent of £156,180 per annum
Asking Price of £1,600,000
Gross yield of 9.98% and a Net yield of 7.40%
The property comprsies of a retail shop, cafe and 10 apartments. The property is currently fully let out producing a gross rent of £159,180 per annum, inclusive of service charges and is available at an Asking Price of £1,600,000. The asking price reflects a gross yield of 9.95%.
Location
Rutland Point benefits from excellent roadside prominence on Glaston Road (A47) one of the region’s key arterial routes, linking Leicester to Peterborough, and providing easy access to the wider East Midlands and East Anglia.
The surrounding area is characterised by attractive countryside and affluent villages, making it a popular destination for leisure and tourism. Nearby towns include Uppingham (approx. 3 miles) and Oakham (approx. 8 miles), both offering strong local amenities and a vibrant business community.
Description
This attractive detached stone-built property comprises of two commercial premises on the ground floor with a 10 residential apartments to the rear and above. The property is a fully-let investment and asset management opportunity.
The property has been sypmathetically designed having undergone a significant extension in 2016 and is constructed from stone with and brick walls underneath a series of pitched roof sections.
There is a small parcel of land adjacent to the property comprising of 0.72 acres of vacant grassland.
Accommodation
The cafe and retail areas have been measured to a Net Internal Area. The cafe comprises of 1,751 sq. Ft. (162.67 sq. M.) and the retail unit comprises of 780 sq. Ft. (72.46 sq. M.).
The residential accommodation is made up of 2 bedsits, 5, one bedroom apartments and 3, two bedroom apartments. The residential areas have been measured to a Gross Internal Area of 5,223 sq. Ft. (485.23 sq. M.).
The property comprises a total area of 7,754 sq. Ft. (720.36 sq. M.).
Terms
The freehold is available to buy with an asking price of £1,600,000. This reflects a Gross yield of 9.95% and a Net yield of 7.40%
Service Charges
A service charge of £14,040 is collected across the estate.
Tenancies
The cafe is let on a 6 year iri lease from January 2026 at £27,000 per annum. The retail unit is let on a 6 year iri lease from January 2025 at £12,000 per annum.
The residential accommodation is let on AST and commercial agreements, producing a gross rent of £103,140 per annum.
The total passing rent is £156,180 per annum, including service charges.
VAT
VAT is not applicable to the quoting figures.
Business Rates
Suites 2/3 Rutland Point has a rateable value of £4,950.
The restaurant has a rateable value of £41,000.
Suite 6 Rutland Point as a rateable value of £1,700.
There are 6 council tax assessments relating to the apartments, all assessments are within Band 'A'.
Interested parties should check with the local authority regarding the amount payable.
Services
We understand that all main services are connected to the property, but these have not been tested by the agent.
Legal Costs
Each party are to bear their own legal costs incurred during the transaction.
EPC
The property has an up-to-date EPC which is available upon request.
Id Checks
In accordance with Anti-Money Laundering regulations, proof of identification for all purchasers will be required. The vendor’s agent uses Thirdfort to verify the identity and residence of purchasers.
Location
Rutland Point benefits from excellent roadside prominence on Glaston Road (A47) one of the region’s key arterial routes, linking Leicester to Peterborough, and providing easy access to the wider East Midlands and East Anglia.
The surrounding area is characterised by attractive countryside and affluent villages, making it a popular destination for leisure and tourism. Nearby towns include Uppingham (approx. 3 miles) and Oakham (approx. 8 miles), both offering strong local amenities and a vibrant business community.
Description
This attractive detached stone-built property comprises of two commercial premises on the ground floor with a 10 residential apartments to the rear and above. The property is a fully-let investment and asset management opportunity.
The property has been sypmathetically designed having undergone a significant extension in 2016 and is constructed from stone with and brick walls underneath a series of pitched roof sections.
There is a small parcel of land adjacent to the property comprising of 0.72 acres of vacant grassland.
Accommodation
The cafe and retail areas have been measured to a Net Internal Area. The cafe comprises of 1,751 sq. Ft. (162.67 sq. M.) and the retail unit comprises of 780 sq. Ft. (72.46 sq. M.).
The residential accommodation is made up of 2 bedsits, 5, one bedroom apartments and 3, two bedroom apartments. The residential areas have been measured to a Gross Internal Area of 5,223 sq. Ft. (485.23 sq. M.).
The property comprises a total area of 7,754 sq. Ft. (720.36 sq. M.).
Terms
The freehold is available to buy with an asking price of £1,600,000. This reflects a Gross yield of 9.95% and a Net yield of 7.40%
Service Charges
A service charge of £14,040 is collected across the estate.
Tenancies
The cafe is let on a 6 year iri lease from January 2026 at £27,000 per annum. The retail unit is let on a 6 year iri lease from January 2025 at £12,000 per annum.
The residential accommodation is let on AST and commercial agreements, producing a gross rent of £103,140 per annum.
The total passing rent is £156,180 per annum, including service charges.
VAT
VAT is not applicable to the quoting figures.
Business Rates
Suites 2/3 Rutland Point has a rateable value of £4,950.
The restaurant has a rateable value of £41,000.
Suite 6 Rutland Point as a rateable value of £1,700.
There are 6 council tax assessments relating to the apartments, all assessments are within Band 'A'.
Interested parties should check with the local authority regarding the amount payable.
Services
We understand that all main services are connected to the property, but these have not been tested by the agent.
Legal Costs
Each party are to bear their own legal costs incurred during the transaction.
EPC
The property has an up-to-date EPC which is available upon request.
Id Checks
In accordance with Anti-Money Laundering regulations, proof of identification for all purchasers will be required. The vendor’s agent uses Thirdfort to verify the identity and residence of purchasers.
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£8,003 per month
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