Key Information
- Total GIA: 3,161 sq ft (293.63 sq m)
- Modern mid-terrace industrial premises
- Let to a strong tenant covenant
- Purchase price subject to the occupation lease - £335,000 to show an initial yield of 5.27% and an estimated reversionary yield of 6.48%, after costs
- £335,000 for the long leasehold interest, which reflects a net initial yield of 5.27%, and an estimated reversionary yield of 6.48% after the deduction of usual purchaser costs.
The subject property comprises a circa 1980s built, single-storey, mid-terrace, industrial unit with two-storey integral offices, of steel frame construction with brick elevations, surmounted with steel cladding. The roof structure is pitched and similarly clad, incorporating translucent roof lights. The elevations incorporate uPVC double glazed windows. Internally, the ground floor accommodation has been configured to provide a trade counter area, WC facilities, a partitioned office, together with the main warehouse. The main warehouse area generally provides clear and unencumbered production accommodation with a solid concrete floor throughout, brick elevations to a height of 2.50m and is lit via suspended LED lights. The eaves height to the underside of the haunch is circa 5.6m. Loading is facilitated by means of a roller shutter door in the front elevation. Heating to this element is provided by way of a warm air gas fired blower. An internal staircase at the front of the property provides access to the first floor where there is an office incorporating a kitchenette. The specification to the office space includes; suspended ceilings with inset CAT II lighting, painted plastered walls and carpet floor coverings. Heating is provided by wall mounted electric heaters. Externally, the property benefits from forecourt car parking for 4 cars.
Location
The Leycroft Road Industrial Estate is situated approximately 3 miles north of Leicester City Centre, close to the junction with Beaumont Leys Lane. Junction 21 of the M1 is less than 2 miles away via the A46 which links from the M1 to the A1 at Newark. The property forms part of an established commercial estate, that is home to occupiers such as Bradgate Bakeries, Fedex, Office Depot and Walkers Crisps.
VAT
VAT is not applicable to the purchase price.
Rates
The property is currently listed as Factory and Premises and has a rateable value of £20,500. Source: VOA
Services
Mains drainage, water, gas and electricity are connected to the property.
EPC
An EPC is available upon request.
Legal Costs
Each party is to bear their own legal costs incurred.
Accommodation
Measurements are quoted on a Gross Internal basis in accordance with the RICS Property Measurement Second Edition.
Planning
We understand the premises have authorised planning consent under Class E (light industrial) / B8 (Storage and Distribution) of the Town and Country Planning (Use Classes) (Amendments) (England) Regulations 2020.
Viewing
Viewings are by appointment with sole agents Innes England