Commercial property for sale in Market Place, Mountsorrel, Loughborough LE12

This is an excellent opportunity to acquire a Freehold investment property in the heart of the attractive and popular village of Mountsorrel. It is offered with the benefit of vacant possession of the ground floor retail premises and with Tenants in situ in the two flats and the opportunity for further development to the rear. The shop has a total sales area of 93.9 sq. M. (1,011 sq. Ft.) and would be suitable for a variety of businesses.

Situation

The property is situated on the north-east side of Market Place in an area of mixed residential, community and commercial uses, in the centre of the village of Mountsorrel.

Location

Mountsorrel has a population of approximately 8,000 people and is situated alongside the A6 approximately seven miles north west of Leicester City Centre and five miles south east of Loughborough. Mountsorrel also lies within a 15- minute drive of Junction 23 of the M1 motorway.

The village has a range of amenities including public houses, restaurants, hot food takeaways, local shops and a number of churches and a library. The village is also home to the only Michelin-starred restaurant in Leicestershire.

Description

The property comprises a period, part three-storey, part two-storey and part single-storey, mid-terrace building occupied as a retail shop with two self-contained flats above.

The oldest part of the building is of solid brick construction with a pitched, slated roof with the rear, two-storey section having a flat, boarded and felted roof.

The ground floor comprises a generous sales area with an attractive double shop frontage and steps up to an office, rear stores and a small basement storage area.

There is a separate access leading to a one-bed and a two bed flat above.

There is an out-building of brick and tile construction with a further timber storage shed beyond.

An archway from Market Place gives access to the rear parts.

It should be noted that new windows have been installed at first and second floor levels to both front and rear.

Accommodation

Ground Floor Shop
Sales 93.9 sq. M. (1,011 sq. Ft.)
Rear store 26.7 sq. M. (287 sq. Ft.)
First floor office/store6.2 sq. M. (174 sq. Ft.)

Outside
Lean-to store 7.3 sq. M. (78 sq. Ft.)
Storage shed 22.5 sq. M. (242 sq. Ft.)

Flat 9A 83.5 sq. M. (899 sq. Ft.)
Flat 9B 73.0 sq. M. (786 sq. Ft.)

Tenure

Freehold

Tenancies

The commercial part of the property was recently vacated and is offered with vacant possession.

The market rent is regarded as being in the order of £16,000 - £18,000 per annum.

The flats are let under Assured Shorthold Tenancies at the following rents:
Flat 9A - £600 pcm
Flat 9B - £450 pcm

Price

£395,000

Services

The property is connected to main electricity, gas, water and drainage services. Each part of the property has independent utility supplies and is heated by central heating radiators from gas-fired boilers.

Planning

The ground floor has planning permission for any purpose with Use Class E.

Rateable Value

The commercial part of the property is described in the 2023 Rating List as Shop and Premises with a Rateable Value of £16,750.

Council Tax

Each flat is valued within Band A for Council Tax purposes.

Energy Performance Certificates

9 Market Place (Shop) C (74)
Flat 9A D (65)
Flat 9B E (54)

Costs

Each party will be responsible for their own legal costs in respect of the transaction.

Viewings

For further information or to arrange a viewing please contact Kevin Skipworth of Andrew Granger & Co, Leicester office on or via email at