Block of flats for sale in Lee Circle, Leicester LE1

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Block of flats for sale 70,344 sq. ft*

Property features

  • Build to rent opportunity
  • Potential for student accommodation scheme STPP
  • Prominent location with university catchment

Property description

Location


The site is located within walking distance of the main transport hubs in Leicester: Haymarket Bus Station (350m), St Margaret’s Bus Station (475m) and Leicester Railway Station on London Road (1.1km).

The opportunity can be found on the edge of the Central Shopping Core in Leicester, with easy access to the rest of the facilities that the City Centre has to offer. This includes the shopping amenities, services and evening life, major employers such as the two universities and the Leicester Royal Infirmary, office areas in New Walk and around the railway station, and The Curve theatre in the Cultural Quarter.

Access to the site can be reached from Lee Street, which is situated just behind Haymarket Bus Station, between Crecy Court and Thrifty vehicle hire premises.


Accommodation


The 1,650 sq. M site comprises as existing a mixture of Class B1 (light industrial), B2 (general industrial) and B8 (storage and distribution) units arranged as 1 and 2 storey buildings. They share a common service yard with associated car parking that is accessed off Lee Circle and covers about 700 sq. M of the site. There is no landscaping and the entire site is impermeable.

The planning permission obtained from the Leicester City Council under and is for the construction of a 6 and 7 storey building comprising of 92 flats (1 x Studio, 59 x 1 bed, 32 x 2 bed); substation; communal amenity space and facilities. There is no S106 agreement.

Planning reference: 2021139.


Lease terms


The Units are all let by virtue of either annual license agreements or flexible, contracted leases with mutual rolling break clauses, so as to enable any prospective purchaser to obtain vacant possession quickly and develop.


Further information


The property is held freehold under title number LT152395.

The property is being offered for sale by way of conventional private treaty. To that effect, unconditional offers (save for subject to contract) are sought for the freehold interest.

Whilst the development opportunity is for a ‘knock down and re-build, ’ The property may be inspected by prior appointment through the vendor’s sole selling agents, Taylor Freeman Kataria. Prospective purchasers should be aware that inspections are made entirely at their own risk and no liability is accepted by the vendor or their agent. We are obliged to disclose under the eaa 1979 that one or more members of tfk has a personal interest in this property.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
Taylor Freeman Kataria, IG1 on +44 20 8115 0583 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Taylor Freeman Kataria, and do not constitute property particulars. Please contact Taylor Freeman Kataria for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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