No longer on the market
This property is no longer on the market
Floorplans (
Map5 bedroom property
Key information
Features and description
- Great Investment Opportunity
- Scope To Increase Rent
- Prime Location
- 12 ft high ceilings
- Redevelopment Potential
Discover this amazing opportunity to acquire well established and renowned four-storey freehold mixed residential and commercial building with five tenanted apartments located in the heart of Leicester's West End, 400 metres from De Montfort University, 800 metres from Leicester University, and only 100 metres from Halls of Residence. The building has been the subject of extensive improvement and refurbishment by the current owners during several years of ownership, notably including the addition of the letting accommodation and the installation of a whole new aesthetic in the commercial space.
Scope To Improve
- Refurbish the apartments to give them a more modern aesthetic. This could easily add tremendous value.
- Given the close proximity of the university, converting the apartments into co-habitable living spaces could readily raise the rent.
- Potential to split the commercial space into 3 units.
Apartments
All five apartments are rented out on an assured shorthold tenancy. All flats are accessed through a separate entrance next to the ground floor commercial unit. All apartments are on 125-year leases that were granted in July, with a total income of £40,500.00 per annum. Freehold ground rents from the five one-bedroom apartments and the commercial unit are £1,250.00 pa. The huge 10ft ceilings are one of the apartments' most striking features.
Commercial
A prime location commercial unit is currently rented to Dog House Group Limited t/a Crafty Dog Leicester for the past 5 years. The existing owners are happy to sign a new 15-year lease at £57,600.00 per year.
Location
The building occupies a prominent and highly visible and elevated landmark trading position, adjacent to one of the largest supermarkets in Leicester, close to the M1, Leicester city centre and Leicester train station. Set in the heart of Leicester's west end, the property also benefits from being on the doorstep of all prime student bars, restaurants and accommodations.
Braunstone is currently undergoing an amazing regeneration scheme intended to enhance its vibrant feel. By reducing several parking spots along the street, it will give more emphasis to cyclists and pedestrians by limiting car access, closing the road to unnecessary traffic during peak hours, and providing broader pavement areas for visitors to the area's shops, cafes, and bars. According to the designs, it will resemble a "mini-Holland."
About this agent
