£275,000
Property for saleBelvoir Street, Leicester LE1
Freehold
About this property
A prominent mixed use investment opportunity available freehold on Belvoir Street
Currently producing £19,500 pa gross rental income.
Full Description
Opportunity to purchase this mixed-use freehold investment.
The property occupies a prominent retail position on Belvoir Street. Currently let out to a dessert and coffee parlour on the ground floor and on an AST on the upper duplex apartment. Conveniently located in Leicester City Centre and close to Granby street which has major revamp plans to be pedestrianised. The area benefits from a number of local and high street brands and is a stone throw away from the former Fenwick’s store that is being developed into a Hotel.
The property comprises ground floor retail and first and second floors arranged as a duplex apartment. There is separate access to the apartment off Belvoir street.. The ground floor consists of front seating and serving area, rear kitchen/preparation areas and further storage and preparation space in the basement. The ground floor retail also benefits of a private rear yard which has WC facilities for the dessert parlour.
The duplex apartment is arranged over 2 floors consisting – first floor with a living room and separate kitchen and second floor with a double bedroom and separate bathroom.
Ground floor and Basement:
C. 56m sq. M – 602 sq. Ft
Tenure:
Freehold with existing lease and AST in place
Ground floor lease 3 years.
Current rental income:
Ground floor and basement - £10,200 pa
First and second floor duplex 1 bed flat - £9,300 pa
Total income £19,500 pa
Approx yield: 7%
Please note the leasehold business does not constitute in the freehold sale.
VAT is payable at the prevailing rate, if applicable
Location
The building is located off Granby Street, home to some excellent restaurants and bars and a stones throw away from the Cultural quarter. The building sits prominently between the Leicester Train Station, the Curve and the Highcross Shopping Centre.
Services
Services are connected but have not been tested by the agents.
Terms
Freehold basis subject to contract.
Viewing
Viewing via appointment only through sole agents Reign Real Estate Limited
Vat
VAT applicable
Legal Costs
Each party responsible for their own legal costs.
Planning
All parties to make their own enquiries in relation to planning.
Other
**if you are looking to sell or let your business premises or A going concern business transfer then please contact us at reign commercial.**
Important Information:
All statements contained in these particulars are provided in good faith and are believed to be correct but their accuracy is not guaranteed. These particulars do not constitute any part of any offer or contract. None of the statements contained herein are, or are intended to be statements or representations of fact or opinion by either the vendor or Reign Commercial ltd or its employees or agents.
Neither Reign Commercial ltd nor its employees or agents are authorised to make or give any representation, guarantees or warranties whatsoever in relation to the above premises. Interested parties must satisfy themselves by inspection or survey on any matter or statement contained in these particulars.
Health & Safety:
You are asked to exercise all care and diligence during your inspection of the property and the Agents are unable to warrant that the property is free of hazards or complies with Health and Safety legislation. The Agents accept no liability for injury or loss to persons or property when visiting. All interested parties must follow government guidelines relating to Covid-19 when visiting the property.
Currently producing £19,500 pa gross rental income.
Full Description
Opportunity to purchase this mixed-use freehold investment.
The property occupies a prominent retail position on Belvoir Street. Currently let out to a dessert and coffee parlour on the ground floor and on an AST on the upper duplex apartment. Conveniently located in Leicester City Centre and close to Granby street which has major revamp plans to be pedestrianised. The area benefits from a number of local and high street brands and is a stone throw away from the former Fenwick’s store that is being developed into a Hotel.
The property comprises ground floor retail and first and second floors arranged as a duplex apartment. There is separate access to the apartment off Belvoir street.. The ground floor consists of front seating and serving area, rear kitchen/preparation areas and further storage and preparation space in the basement. The ground floor retail also benefits of a private rear yard which has WC facilities for the dessert parlour.
The duplex apartment is arranged over 2 floors consisting – first floor with a living room and separate kitchen and second floor with a double bedroom and separate bathroom.
Ground floor and Basement:
C. 56m sq. M – 602 sq. Ft
Tenure:
Freehold with existing lease and AST in place
Ground floor lease 3 years.
Current rental income:
Ground floor and basement - £10,200 pa
First and second floor duplex 1 bed flat - £9,300 pa
Total income £19,500 pa
Approx yield: 7%
Please note the leasehold business does not constitute in the freehold sale.
VAT is payable at the prevailing rate, if applicable
Location
The building is located off Granby Street, home to some excellent restaurants and bars and a stones throw away from the Cultural quarter. The building sits prominently between the Leicester Train Station, the Curve and the Highcross Shopping Centre.
Services
Services are connected but have not been tested by the agents.
Terms
Freehold basis subject to contract.
Viewing
Viewing via appointment only through sole agents Reign Real Estate Limited
Vat
VAT applicable
Legal Costs
Each party responsible for their own legal costs.
Planning
All parties to make their own enquiries in relation to planning.
Other
**if you are looking to sell or let your business premises or A going concern business transfer then please contact us at reign commercial.**
Important Information:
All statements contained in these particulars are provided in good faith and are believed to be correct but their accuracy is not guaranteed. These particulars do not constitute any part of any offer or contract. None of the statements contained herein are, or are intended to be statements or representations of fact or opinion by either the vendor or Reign Commercial ltd or its employees or agents.
Neither Reign Commercial ltd nor its employees or agents are authorised to make or give any representation, guarantees or warranties whatsoever in relation to the above premises. Interested parties must satisfy themselves by inspection or survey on any matter or statement contained in these particulars.
Health & Safety:
You are asked to exercise all care and diligence during your inspection of the property and the Agents are unable to warrant that the property is free of hazards or complies with Health and Safety legislation. The Agents accept no liability for injury or loss to persons or property when visiting. All interested parties must follow government guidelines relating to Covid-19 when visiting the property.
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