Key Information
- Total GIA: 5,270 sq ft (489.56 sq m)
- Secure 15-year unbroken lease from July 2019
- Established day nursery use
- Offers in excess of £750,000
- Offers in excess of £750,000 A purchase at this level reflects a gross yield of 7.7% and a net initial yield of 7.36% after the purchaser's cost.
The property comprises a two-storey premises which forms part of a substantial neighbourhood parade which has been arranged over four storeys and comprises six retail units and fifty-one apartments. The building is of steel frame construction with brick elevations beneath a pitched roof. The floor is constructed in solid concrete throughout. Internally, the premises has been laid out to provide a day nursery over two floors, together with welfare facilities and ancillary storage. The premises has the benefit of an HVAC system providing heating and cooling, carpet floor covering and gas central heating. Externally, the premises has the benefit of car parking and an enclosed garden.
Location
Leicester has a diverse demographic profile, having a population of circa 324,000 according to the 2021 census. The city is positioned circa 100 miles north of London, 40 miles east of Birmingham and 25 south of Nottingham and is served by excellent communication links via J21 of the M1/M69. The property is well-positioned on the northside of Sandhills Avenue in North Hamilton, approximately 3.8 miles north east of the city centre. The property forms part of the main neighbourhood parade servicing the Hamilton District Centre, a prevalent and densely populated residential area which provides an array of local amenities which include a café, post office, supermarket and a pharmacy.
VAT
The premises has been elected for VAT which will be charged at the prevailing rate. The sale of the property may be treated as a Transfer of Going Concern (TOGC).
Rates
The property is currently listed as Day Nursery and Premises and has a rateable value of £47,750 (from 1st April 2026) Source: VOA
Services
We understand that mains water, electricity and drainage supplies are available and connected to the property. These have not been tested and are not warranted to be in working order. Interested parties are advised to make their own investigations to the relevant utility service providers.
EPC
The premises have an EPC assessment of: E-108.
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 that the property has authorised use from the Local Planning Authority under Class E Day Nursery Use of the Town and Country (Planning) (Use Class) (Amendments) (England) Regulations 2020. Interested parties are advised to make their own investigations to the Local Planning Authority.
Viewing
Viewings are by appointment with sole agents Innes England