Key Information
- Net Internal Area: 765 sq ft (71.1 sq m)
- Located in a popular pedestrianised position in the town centre
- Producing a current income of £16,800 per annum
- Price: £210,000 which reflects a gross yield of 8.00%
- Refurbished to a high standard throughout
- Fully let
- The freehold interest is available at a purchase price of £210,000, which reflects a gross yield of 8.00%.
The subject property comprises a three-storey semi-detached building of traditional rendered brick construction beneath a pitched tiled roof, which has been configured to provide a ground floor retail unit with a self-contained office premises over the upper floors. The ground floor retail element has been fitted with a metal framed shop front incorporating double doors, whilst the upper floors encompass uPVC double glazed windows. Internally, the ground floor retail element provides flexible sales accommodation to the front of the accommodation with a kitchenette and WC to the rear. The unit has been renovated to a very high standard to include; suspended ceilings with inset LED lighting, painted and plastered walls and wooden floor coverings. The upper floor office accommodation is accessed via a doorway to the rear of the building, approached by way of a gated alleyway adjacent to the property. This element has been configured to provide a number of offices together with a kitchen and WC / shower facilities. The accommodation is effectively arranged as a 1 bedroomed residential flat and benefits from prior approval being granted to convert the element to a residential use. Externally to the rear there is a shared garden.
Location
Wigston is a major satellite area of the Greater Leicester conurbation, situated some 4 miles south of Leicester City Centre. The location is convenient for Leicester's Ring Road (A563) which provides access to Junction 21 of the M1 / M69 motorways, some 3 miles to the west, as well as to the major arterial routes around the City. The premises occupies a frontage position on Bell Street close to the Sainsbury's supermarket and opposite the Specsavers opticians, within 40 meters of the junction of Bull Head Street. There are other major traders nearby such as Boots, Card Factory and Santander. Bell Street is pedestrianised in this particular section and enjoys strong pedestrian flow from the car parks accessed from Paddock Street, Frederick Street and Wakes Road.
VAT
All figures quoted are exclusive of VAT. The property is not registered for VAT.
Rates
The property is currently listed as Shop and Premises and has a rateable value of £4,650. Source: VOA
Services
We understand mains water, drainage and electricity are connected to the property and each demise is separately metered.
EPC
The premises have an EPC assessment of: C (69)
Legal Costs
Each party is to bear their own legal costs incurred.
Accommodation
Measurements are quoted on a Net Internal basis in accordance with the RICS Property Measurement Second Edition.
Planning
The ground floor retail accommodation and upper floor office accommodation both have an authorised use within Class E of the Town and Country Planning (Use Classes) (Amendments) (England) Regulations 2020. Prior approval under permitted development rights (Application No: 23/00474/P3JPA) has been granted to convert the first floor and second floor from an office into a residential flat.
Viewing
Viewings are by appointment with sole agents Innes England