Key Information
- GIA 6,889 sq ft (640 sq m)
- On site car parking
- Residential conversion opportunity (STP)
- Purchase price: £600,000
- £600,000 for the freehold interest
The subject property's composition can be best described in two distinct sections, the first being that which fronts St. Nicholas Circle (150a St. Nicholas Circle), which comprises a 1960s single-storey former factory, with solid brickwork walls beneath a part pitched asbestos cement sheet roof and a part flat roof. Internally, this element has been adapted to provide a self-contained retail unit (former cake shop) to the front of the building, together with a more traditional storage unit to the rear. The second section fronts Bath Lane (15 Bath Lane) and comprises a three-storey steel framed former factory building, with brickwork walls and concrete floors, together with uPVC double glazed windows beneath a flat roof. Internally, this building has been suitably converted to provide good quality office accommodation over the first and second floor, whilst the ground floor provides functional industrial / storage accommodation, benefiting from a level access roller shutter door and also incorporates a mezzanine. Externally, to the Bath Lane frontage, there are 4 car spaces. To the St. Nicholas Circle frontage, there is side driveway which provides car parking for a further 3 cars in a tandem arrangement.
Location
The property occupies a frontage position to the West Side of St. Nicholas Circle at its junction with Hinckley Road (A47), lying approximately half a mile from the city centre close to the inner ring road, as well as being within walking distance of the principal shopping area. The rear of the property has a frontage to Bath Lane, which runs parallel and adjacent to the River Soar/Grand Union Canal. The area generally is mixed use in nature, comprising a variety of uses that include residential flats, retail, office and industrial uses. Situated off St. Nicholas Circle is a Holiday Inn hotel and car parking facilities. Other major facilities within the vicinity include De Montfort University (0.5 miles), The Guildhall Museum and the Highcross Shopping Centre.
VAT
VAT is not applicable to the purchase price.
Rates
15 Bath Lane (Ground and Mezzanine Floors) The property is currently listed as Workshop and Premises and has a rateable value of £7,000. 15 Bath Lane (First and Second Floors) The property is currently listed as Factory and Premises and has a rateable value of £4,900. 150a St. Nicholas Circle (Café - Unit 2) The property is currently listed as Café and Premises and has a rateable value of £1,625. 150a St. Nicholas Circle (Unit 2) The property is currently listed as Warehouse and Premises and has a rateable value of £9,500. Source: VOA
Services
We understand that the premises have the benefit of mains, water, electricity, drainage and gas.
EPC
A copy of the EPC is available upon request form the agents.
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 believe that the premises has an authorised use within Class E of the Town and Country Planning (Use Classes) (Amendments) (England) Regulations 2020. Parties interested in alternative uses, such as residential, are recommended to discuss matters with the Local Planning Authority at Leicester City Council on 0116 454 1000.
Viewing
Viewings are by appointment with sole agents Innes England