Mixed use

Withdrawn Prior For Sale by Public Auction on23/07/2025

Location:
The property is located in the city centre, within a pedestrianised area between the entrance to Highcross Shopping Centre and the former Leicester Market which is undergoing major redevelopment. Neighbouring retailers include Five Guys, The Co-operative Bank, Tortilla and McDonalds.

Description:
A substantial mostly 3 storey property of approximately 4,673 sqft (434.6 sqm). The property comprises of 2 ground floor retail units and 4 self contained flats above each with 3 ensuite bedrooms with communal lounge/kitchen and access to shared laundry facilities.

Note
VAT is applicable on the commercial elements of the property.
Commercial elements can be purchased as a TOGC.
The landlord pays for the electric to the residential flats.

Tenure
Freehold, subject to 2 existing leases and 12 ASTs.
These will be included in the legal pack.

Solicitors
Saifee Solicitors, 37 Beaumont Street, Oadby, Leicester LE2 4DA
[use Contact Agent Button] ~ Ref. Z Patel

Accommodation TENANT ACCOMMODATION SQFT (SQM) EPC LEASE / TENANCY RENT £ PAX 9 CheapsideClays ButcherRetail sales area, preparation room, basement for storage and ancillary space1,129 (104.97)113, E5 year IRI lease from 25.03.2017 plus service charge36,000 11 Cheapside Subway Realty LtdRetail sales area, preparation room, WC897 (83.4)92, D10 year lRI Lease from 30.01.2018 plus service charge26,000Current Commercial Income, VAT applicable on the commercial units62,000Market Square House, 5 Cank Street First Floor Flat 1 (rooms 4-6)3 en-suite bedrooms, communal kitchen/lounge60, D (for Flat 1 & 2)Flat 2 (rooms 1-3)3 en-suite bedrooms, communal kitchen/lounge Second Floor Flat 3 (rooms 10-12)3 en-suite bedrooms, communal kitchen/loungePendingFlat 4 (rooms 7-9)3 en-suite bedrooms, communal kitchen/loungePendingCurrent Residential Income - Landlord pays for electrics90,000Total Gross Rental Income152,000