Commercial property for sale in Gallowtree Gate, Leicester LE1

£1,500,000 (£206.84/sq. ft)
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Commercial property for sale 7,252 sq. ft*

Property features

  • 2 retail units with offices above extending
  • Producing a combined income of £108,177.09 last year
  • Lapsed planning consent for the conversion of upper floors into 7 residential flats.
  • Purchase price of £1.5 million, that reflects a Net Initial Yield of 6.8% after costs.
  • Fully let
  • Positioned in a high footfall area

Property description

An imposing and attractive 5-storey corner building of traditional solid red brick construction beneath a pitched slate roof, which has been configured to provide two retail units at ground floor level with self-contained office accommodation over the upper floors.

Both retail units provide flexible sales accommodation, with one presently fitted out as a Coffee Shop benefiting from a return frontage and the other as a Travel Agents. Kitchen and WC facilities are provided in both demises, together with basement areas.

The upper floor office element is accessed via an entrance door off Halford Street and has been configured to provide basic cellular office accommodation over the first and second floor, with the third and fourth floors mainly being used as stores.

Property info

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

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Innes England, LE1 on +44 116 484 6470 * (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 Innes England, and do not constitute property particulars. Please contact Innes England 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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