Offers over
£350,000
(£147.12/sq. ft)
Property for saleKing Street, Leicester LE1
2,379 sq. ft
Just added
Freehold
About this property
City Centre Investment Opportunity
Current Rental Income: £26,250 per annum
Potential to acheive approx. 9% return
Prominent Building.
Readings Property Group are pleased to bring to market an investment opportunity in the heart of Leicester City Centre. The property is located on King Street, close to the Mattioli Woods Offices, and within a short walk to Highcross Shopping Centre. The investement offers the opportunity to acheive a 9% gross yield after rent reviews. The current rental is £26,250 per annum.
Location
The building occupies a prominent position within Leicester city centre, situated on King Street within the established central business and commercial area.
The property benefits from a highly accessible city-centre location, with Leicester's principal retail, professional, leisure and hospitality amenities all within convenient walking distance. The surrounding area comprises a varied mix of commercial premises, offices, retail and food and beverage operators, creating an established and active urban environment.
Opportunity
The site consists of three retail units fully let and with a total rental of £26,250 per annum, a gross yield of 7.5%. And the potential to achieve a 9% yield after rental increases in March 2027. 15&17 King Street are occupied by a well-established cafe trading as 'Bread & Honey'. The owners have in recent years carried out a refurbishment programme and committed to a lease expiring in 2030. No.19 King Street is occupied by an Art Gallery with a lease expiring in 2028.
The current rentals are as follows:
15 King Street: £9,850 pa
17 King Street: £8,400 pa
19 King Street: £8,000 pa
Total Rental Income £26,250 per annum
Estimated Rental Income £32,000 per annum
Terms
The property is being offered at Offers over £350,000
Accommodation
All of the retail units are arranged over ground, first and second floors with the following measurements:
No.15 & 17: The property has been merged by the tenant to create one large cafe. It has been refurbished to a high standard and has a Gross Internal Area of Approx, 196 sqm (2,106 sqft)
No.19: The premises is occupied by an Art Gallery and has a Gross Internal Area of approx. 27.5 sqm (273 sf)
Rating
Rateable value:
No.15 & 17: £18,000
No.19 £3,500
Prospective buyers are required to confirm rates payable with the local authority
Energy Performance
All EPC's are valid. Copies will be provided.
Planning
We believe the current planning use would fall under Class E.
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
Mains Gas, 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 buyer/tenant for verification. The measurements are carried out in accordance with the RICS and isva code of measuring practice
Location
The building occupies a prominent position within Leicester city centre, situated on King Street within the established central business and commercial area.
The property benefits from a highly accessible city-centre location, with Leicester's principal retail, professional, leisure and hospitality amenities all within convenient walking distance. The surrounding area comprises a varied mix of commercial premises, offices, retail and food and beverage operators, creating an established and active urban environment.
Opportunity
The site consists of three retail units fully let and with a total rental of £26,250 per annum, a gross yield of 7.5%. And the potential to achieve a 9% yield after rental increases in March 2027. 15&17 King Street are occupied by a well-established cafe trading as 'Bread & Honey'. The owners have in recent years carried out a refurbishment programme and committed to a lease expiring in 2030. No.19 King Street is occupied by an Art Gallery with a lease expiring in 2028.
The current rentals are as follows:
15 King Street: £9,850 pa
17 King Street: £8,400 pa
19 King Street: £8,000 pa
Total Rental Income £26,250 per annum
Estimated Rental Income £32,000 per annum
Terms
The property is being offered at Offers over £350,000
Accommodation
All of the retail units are arranged over ground, first and second floors with the following measurements:
No.15 & 17: The property has been merged by the tenant to create one large cafe. It has been refurbished to a high standard and has a Gross Internal Area of Approx, 196 sqm (2,106 sqft)
No.19: The premises is occupied by an Art Gallery and has a Gross Internal Area of approx. 27.5 sqm (273 sf)
Rating
Rateable value:
No.15 & 17: £18,000
No.19 £3,500
Prospective buyers are required to confirm rates payable with the local authority
Energy Performance
All EPC's are valid. Copies will be provided.
Planning
We believe the current planning use would fall under Class E.
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
Mains Gas, 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 buyer/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
£1,750 per month
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