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Commercial property for sale

£400,000 (£103.9/sq. ft)

Charles Street, Leicester LE1

Commercial property for sale 358 sq. m*
Interested in this property? Call +44 116 448 4833 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property description

Readings Property Group are pleased to bring to market the opportunity to purchase an investment with development potential. The property currently produces an income of £27,000 per annum. There is future residential development potential in the event the tenant occupying the upper floors vacates.

Location

The property is located on Charles Street with a frontage also to Rutland Street. Charles Street leads to the pedestrianised section of Humberstone Gate which is a prime retail area, accommodating occupiers such as Tesco, Primark, Marks & Spencers and Superdrug and provides access to the Haymarket Shopping Centre. The city’s main bus station is located on Charles Street.

Description

The property is a corner three storey building plus a basement which is split to provide two retail units on the ground floor with shopfronts and offices to the upper floors that are linked to one of the retail units (No.96). The basement is accessed from No.100. No.96 is arranged over ground, 1st & 2nd floor and No.100 is over ground floor and basement.

Accommodation

The Net Internal Area is as follows

96 Charles Street
Ground Floor Retail/Sales22.5 sqm (242 sf)
First Floor Offices 93.9 sqm (1010 sf)
Second Floor Offices 81.3 sqm (875 sf)

Total NIA 197.7 sqm (2,127 sf)

100 Charles Street
Ground Floor Retail/Sales50.9 sqm (547 sf)
Basement 49.8 sqm (536 sf)

Total NIA 100.7 sqm (1,083 sf)

The total gross internal area of the whole site is approx 3,850 sqft

Tenancy Schedule

The property is current let to two tenants on the following terms:

No.96
Let to Andersons Letting for 10 years, whcih was renewed from 20 July 2015 (original lease dated 20 July 2005). The current rental being paid is £16,000 per annum.

No.100
Let to Bricks & Home Group Ltd for a term of 5 years from 09 February 2023 at a rent of £11,000 per annum.

Terms & Opportunity

There is an opportunity to convert the upper floors and part of the ground floor in to residential appartments subject to planning.

The property is on the market for offers at £400,000.

Rating

Rateable value £4,600 - No.96
Rates payable 2024/25: £2,295.40

Rateable value £7,400 - No.100
Rates payable 2024/25: £3,692.60

Prospective purchasers are required to confirm rates payable with the local authority and make their own enquiries regarding small business rates relief.

Energy Performance

No.96: D Rating
No100: D Rating

Vat

We understand VAT is not applicable.

Services

Mains water, gas and electric are available, however gas in only connected to No.96.

Legal Costs

Each party to bear their own legal costs

Viewings

Strictly by appointment with sole agent, Readings Property Group, 48 Granby Street, Leicester LE1 1DH (Hassan Gaffar).

Agent Notes

Consumer protection legislation - These details have been written to conform to Consumer Protection Legislation. Whilst we endeavour to make our Details accurate and reliable, if there is any point of particular importance to you, please contact the office and we will check the information for you, particularly if contemplating travelling some distance to view. Measurements are given in good faith and whilst believed to be accurate these should be checked by the prospective tenant for verification. The measurements are carried out in accordance with the RICS Code of Measuring Practice (6th Edition) and isva code of measuring practice.

Property info

* Sizes listed are approximations. Please contact the agent to verify actual sizes.

Arrange Viewing

For more information about this property, please contact
Readings Property Group Ltd, LE1 on +44 116 448 4833 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Readings Property Group Ltd, and do not constitute property particulars. Please contact Readings Property Group Ltd for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla 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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