Block of flats for sale in Lee Circle, Leicester LE1

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.