SUMMARY

– Freehold commercial investment with phased development potential.
– Situated in Leicester city centre with many retailers, restaurants, offices, hotels and mixed residential schemes nearby.
– Part secure and part flexible income on a variety of leases offering a purchaser excellent asset management and refurbishment options.

LOCATION

The subject premises is located within the heart of Leicester city centre, with significant frontages onto both Market Street and Bowling Green Street.

Market Street has a host of retailers, leisure operators and service providers including established occupiers including but not limited to McDonalds, Millington Travel and 200Degrees Coffee.

The Gresham Hotel and associated Black Iron Social bar/restaurant are trading exceptionally well and the general improvement on the street has encouraged the upmarket Pragnall Jewellers to double their occupancy on the street.

The second frontage onto Bowling Green Street abuts various offices, the central library and the rear of the Town Hall which holds many civic receptions and other events.

DESCRIPTION

Fronting Market Street, the building comprises two retail units; 24A benefitting from tradeable ground and basement floor plates and 26 (unoccupied but let) comprising ground, first and second floor.

The Bowling Green Street frontage has comprises two retail units and a self-contained office entrance leading to four floors of offices above.

EPC

Each demise has it’s own EPC and EPCs are available on request.

INVESTMENT PRICE

Seeking offers in the region of £1,950,000 (Subject to contract and exclusive of VAT). Reflecting a NIY of 7.38% after deducting 6.26% for professional costs.

LEGAL COSTS

Parties are to be responsible for their own legal costs.

VAT

The property is not elected for VAT purposes and therefore there is no VAT applicable to the purchase.