Location & Description - Readings Property Group are pleased to bring to market a rare opportunity to purchase a centrally located property suitable for residential development (subject to planning permission). The property benefits from a privately enclosed and secure car park to the rear.
This property has been used as a photographic studio by the owner for his long-established business and is located adjacent to Regus Serviced Offices. Opposite the site is the Colton Square Office Building and the mixed use complex which accommodates Premier Inn, Leicester University, Pure Gym, and Hastings Direct and within close proximity to Leicester's ever popular Cultural Quarter. Leicester Railway Station, which is due to undergo a £17 million transformation, is within a two-minute walk, and the centre of Leicester is also within a short walking distance.

Terms - The property is on the market for offers over £500,000

Accommodation - The property is set over two floors with car parking to the rear of the premises.

Ground Floor:
Reception Office, Private Office, Photographic Studio, Archive Room and WC Facilities.
171.3 sqm (1,843 sf)

First Floor:
Open Plan Office, Private Office, Kitchen, WC Facilities
88.7 sqm (954 sf)

There is car parking to the rear of the premises.

Total Gross Internal Area
260.0 sqm (2,797 sf)

Development Opportunity - The owner has been in extensive discussions with Leicester City Council's Planning Department and this prominent building offers a number of possibilities for conversion and re-development (subject to planning permission) Whether it be as a restaurant and bar with flats or office space above. A Pre Application enquiry had been submitted with detailed plans for the proposal of a mix of 6 or 7 one and two bedroom apartments with a second floor extension. It is understood that these talks have been positive. Floor plans of the proposal are available upon request.

We are pleased to offer this property with vacant possession

Ratings - Ground Floor
Rateable value is: £12,250
Rates payable as of 1st April 2023: £TBC

First Floor
Rateable value is: £6,700
Rates payable as of 1st April 2023: £TBC

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

Energy Performance - Energy Rating - D (93)

Vat - We understand VAT is not applicable.

Services - Mains water, gas & electric are available.

Legal Costs - Each party to pay their own legal costs

Viewings - Strictly by appointment with sole agent, Readings Property Group, 48 Granby Street, Leicester LE1 1DH (Hassan Gaffar).[use Contact Agent Button]

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 and ISVA code of measuring practice.