£1,350,000
Property for saleChurch Gate, Leicester LE1
Just added
Freehold
About this property
City Centre Investment Opportunity
Mixed Use (4 Shops & 8 Apartments)
Generating approx. £120,000 pa
Approx. 9% yield
Readings Property Group are pleased to bring to market an investment opportunity in the heart of Leicester City Centre offering approx. 9% gross yield. The property is located on Church Gate and provides an income of approx. £120,000 per annum from 4 retail units and 8 apartments.
Location
The property occupies a City Centre location, located approximately 100 yards from the Clock Tower. Access to the Highcross Shopping Centre is located less than 50 yards from the premises. Nearby occupiers include Santander, Waterstones, Metro Bank, Tim Hortons.
Opportunity
The property consists of 4 Retail Units and 8 Apartments.
The rent schedules are attached to the brochure or can be provided on request.
The ground floor consists of four retail units with a total rental income of £55,000 per annum
The upper floors consist of 8 apartments (4x1 bed and 4x2 bed) with a total rental income of £65,640 per annum
The total rental income of the whole building is £120,640 per annum which eqautes to a gross yield of approx. 9%
There is the oportunity to increase the income at review or reversion which then provides a gross yield of approx. 9.5%
Accommodation
The ground floor retail units measure as follows:
No.16: 55.5 sqm (597 sf)
No.18: 58.2 sqm (626 sf)
No.20: 50.4 sqm (543 sf)
No.22: 50.0 sqm (538 sft)
Apartments 1-8 vary in sizes. Floor plans can be proivded on request.
Rating
Ground Floor Retail
Rateable value:
No.16: £8,900
No.18 £8,900
No.20 & 22 - awaiting split.
Prospective buyers are required to confirm rates payable with the local authority.
Eight apartments on the Upper Floors are Assessed to be Council Tax Band A.
Energy Performance
All EPC's are valid. Copies will be provided.
Planning
We believe the current planning use of the ground floor units would fall under Class E and the upper floor as residential.
We would advise all interested parties to make their own enquiries and not solely rely on information we have provided
Vat
We understand VAT is not applicable.
Services
Commercial:
Mains Electric & Water
Residential
Mains Electric & Water.
Legal Costs
Each party to be responsible for their own costs.
Viewings
Strictly by appointment with sole agent, Readings Property Group, 48 Granby Street, Leicester LE1 1DH (Hassan Gaffar).
Agents Notes
Consumer protection legislation - These letting details have been written to conform to Consumer Protection Legislation. Whilst we endeavour to make our Details accurate and reliable, if there is any point of particular importance to you, please contact the office and we will check the information for you, particularly if contemplating travelling some distance to view. Measurements are given in good faith and whilst believed to be accurate these should be checked by the prospective tenant for verification. The measurements are carried out in accordance with the RICS and isva code of measuring practice.
Location
The property occupies a City Centre location, located approximately 100 yards from the Clock Tower. Access to the Highcross Shopping Centre is located less than 50 yards from the premises. Nearby occupiers include Santander, Waterstones, Metro Bank, Tim Hortons.
Opportunity
The property consists of 4 Retail Units and 8 Apartments.
The rent schedules are attached to the brochure or can be provided on request.
The ground floor consists of four retail units with a total rental income of £55,000 per annum
The upper floors consist of 8 apartments (4x1 bed and 4x2 bed) with a total rental income of £65,640 per annum
The total rental income of the whole building is £120,640 per annum which eqautes to a gross yield of approx. 9%
There is the oportunity to increase the income at review or reversion which then provides a gross yield of approx. 9.5%
Accommodation
The ground floor retail units measure as follows:
No.16: 55.5 sqm (597 sf)
No.18: 58.2 sqm (626 sf)
No.20: 50.4 sqm (543 sf)
No.22: 50.0 sqm (538 sft)
Apartments 1-8 vary in sizes. Floor plans can be proivded on request.
Rating
Ground Floor Retail
Rateable value:
No.16: £8,900
No.18 £8,900
No.20 & 22 - awaiting split.
Prospective buyers are required to confirm rates payable with the local authority.
Eight apartments on the Upper Floors are Assessed to be Council Tax Band A.
Energy Performance
All EPC's are valid. Copies will be provided.
Planning
We believe the current planning use of the ground floor units would fall under Class E and the upper floor as residential.
We would advise all interested parties to make their own enquiries and not solely rely on information we have provided
Vat
We understand VAT is not applicable.
Services
Commercial:
Mains Electric & Water
Residential
Mains Electric & Water.
Legal Costs
Each party to be responsible for their own costs.
Viewings
Strictly by appointment with sole agent, Readings Property Group, 48 Granby Street, Leicester LE1 1DH (Hassan Gaffar).
Agents Notes
Consumer protection legislation - These letting details have been written to conform to Consumer Protection Legislation. Whilst we endeavour to make our Details accurate and reliable, if there is any point of particular importance to you, please contact the office and we will check the information for you, particularly if contemplating travelling some distance to view. Measurements are given in good faith and whilst believed to be accurate these should be checked by the prospective tenant for verification. The measurements are carried out in accordance with the RICS and isva code of measuring practice.
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Monthly repayment
£6,753 per month
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