5 bedroom property for sale
Key information
Property description & features
- Tenure: Freehold
- 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."
Places of interest
See more properties like this:
*DISCLAIMER
Property reference NEST_RM_55094_3134990. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Nest Seekers International - London.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed: obtained from Ofcom on January 20, 2022
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength: obtained from Ofcom on January 20, 2022
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.