No longer on the market
This property is no longer on the market
MapProperty
Sold STC
Property
3850
Features and 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).[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 Code of Measuring Practice (6th Edition) and ISVA code of measuring practice.
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).[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 Code of Measuring Practice (6th Edition) and ISVA code of measuring practice.
Property information from this agent
About this agent
Readings is a growing estate agency based in Leicester. With a heritage going back to 1935 we formed in January 2011 as the result of a merger of two companies, Readings Hope and Mann LLP and Peter James Estates. If you are looking for estate agents in Leicester, we offer exceptional customer service and attention to detail across all services we offer. This means that more and more satisfied customers choose to use and recommend us throughout Leicestershire and further afield. Letting Agents Leicester We have considerable experience in letting properties across Leicestershire and are one of the largest independent letting agents in Leicester. As members of ARLA, you can rest assured that you are dealing with a reputable lettings company. We offer letting agent services for both residential and commercial property and currently have a wide range of properties to let. Houses for Sale in Leicester Readings offer houses for sale in Leicester and Leicestershire. We have a large selection of properties to suit all budgets and needs with houses for sale ranging from investment opportunities to grand family homes, so whether property size, location or style is your priority, we’ll have the property to suit your requirements. Estate Agency Services As industry recognized estate agents, we offer several services besides simply selling and buying houses. These include Estate Agency sales, Lettings and Property Management, Surveys, Valuations, Auctions, Landlord advice and many other property services. We are members of The National Association of Estate Agents (NAEA), Royal Institution of Chartered Surveyors (RICS) and the Association of Residential Letting Agents (ARLA). You can rest assured that whichever of our estate agency services you are using, the staff are highly experienced and knowledgeable- you will receive the highest level of care and advice. Readings are also members of The Property Ombudsman (TPO) and we adhere to strict codes of conduct and practice for your peace of mind. If you are looking for an estate agent in Leicester who will deal with your enquiry efficiently and skillfully to ensure the best outcome for you, contact Readings today on the phone number displayed or press the Contact Agent button.