Location:
Property located near to the junction of Peacock Lane adjacent to the former
Leicester Grammar School.
Description:
A 5 storey building with all mains services and a small yard to the rear.
Accommodation & Tenancies:
| Floor | Accommodation sqft approx. | Lease | Rent (£) pa exc. |
| Basement | 3,200 | Let for a term of 6 years from 19.12.08 on a full repairing and insuring basis with 3 yearly rent reviews | £48,000.00 Note 1 |
| Ground | 2,800 |
| First | 2,550 | Vacant | Note 2 |
| Second | 2,550 | Vacant | |
| Third | 2,550 | Vacant | |
| Flat Roof only | | Let to T-Mobile & Hutchinson 3G UK Ltd for a term of 15 years from July 2006 with 3 yearly upward only rent reviews | £10,500.00 Note 3 & 4 |
| Current Rental Income | £58,500.00 |
| Rental Income as from 19.12.09 | £63,200.00 |
| Estimated Rental Income when fully occupied | £76,700.00 |
Planning:
There is potential for change of use of the upper floors or the whole building, and for the construction of additional floors subject to planning permission.
Note:
1. The rent for the following years is as follows: year 2 = £52,200 pa exc., year 3
= £58,200 pa exc.
2. The first, second and third floors were previously occupied by Snooker Club 147 for approximately 27 years at a rent of £26,000 pax for the last 5 years.
3. The rent review is due on 12.07.09 and the minimum rent review is the retail price index or market value, whichever is greater.
4. A Landlord and Tenant break clause is available after 28.03.13 by giving 12 months prior written notice.
Tenure:
Freehold, part investment and part vacant possession.
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