Key Information
- Located within the Cultural Quarter
- High specification student accommodation with two ground floor restaurants
- Current net rental income: £164,440 per annum
- Purchase price £2m to show a gross yield of 8.22%.
- This valuable mixed use commercial investment is available for £2m, which would show to the buyer an initial gross yield of 8.22%.
The property comprises an attractive four storey corner building of solid brick construction beneath a pitched tiled roof supported on timber queen post trusses. The Humberstone Gate elevation comprises two double glazed shop fronts at ground level whilst the upper floors comprise ornate double glazed windows throughout. On the Rutland Street frontage there is a three-storey extension with vehicular access through the ground floor and being of brick construction under a flat felted roof. Internally, the property is laid out to provide two retail units on the ground floor that are currently let. The upper floors have recently been converted to provide high end student residential accommodation to include 1 x 6 bed cluster and 2 x 8 bed cluster flats, all with en-suites. The vehicular access way from Rutland Street leads to two steel fire escape staircases and also provides loading facilities to the rear of the retail units.
Location
The property is situated in the eastern part of Leicester City Centre within the inner ring road and occupies a prominent corner position at the junction of Humberstone Gate (A47) and Rutland Street, within the St George's Cultural Quarter. It lies just to the east of Leicester's primary retail destinations around the Clock Tower and is within walking distance of both the Highcross Shopping Centre and Haymarket Shopping Centre.
VAT
All figures quoted are exclusive of VAT. Subject to HMRC approval, the sale will hopefully be treated as a Transfer of a Going Concern (TOGC).
Services
We understand all mains services are connected to the property.
EPC
An EPC will be made available on request
Legal Costs
Each party is to bear their own legal costs incurred.
Viewing
Viewings are by appointment with sole agents Innes England.