LOT 11

GUIDE PRICE: £700,000 - £725,000

118 Charles Street, Leicester, LE1 1LB

Solicitor Details

Salusbury Harding & Barlow, 1 Berridge Street, Leicester LE1 5JT Tel: (0116) 262 6052 ~ Ref: C Gooch

*Guide Price & Reserves

COMMERCIAL INVESTMENT

Property Description

A large 3 storey commercial property of approximately 8,785 sqft (816 sqm) with basement, garage and 2 car parking spaces on a site area of 226 sqm. The property has gas central heating, large floor to ceiling windows on all sides of the building and rear loading.

Location:

The property is located in St Georges conservation area within the city centre near to the junction of Rutland Street, Cultural Quarter and Curve Theatre.

Planning

  • Potential for change of use to residential of the first and second floors and a roof extension subject to planning permission
  • We have been advised by the Sellers that a positive response has been received following a pre-application submission for residential use and the addition of three further storeys
  • Supporting written advice and drawings are available for review
  • Local Authority: Leicester City (0116) 454 3000

Tenure:

  • Freehold, subject to existing leases
  • All leases are excluded from The Landlord & Tenant Act 1954
  • All leases are on an IRI basis
FLOOR USE ACCOMMODATION SQFT (SQM) EPC LEASE RENT £ PAX
Basement Storage, boiler and meter cupboard
Ground Fitness Studio Gymnasium 3,113 (291) 55, C 6 years from 25.07.2023 with tenant break option on 25.07.2027 35,000
First Podcast Studio Studio, kitchenette, WC 2,826 (262) 67, C 3 years from 14.04.2025 20,000
Second Community Use Hall, kitchenette, WC 2,826 (262) 74, C 3 years from 01.05.2025 with Landlord or Tenant break option with 3 months notice 9,600
Outside Shutter rear access to 2 car parking spaces, garage and access to basement
Current Rental Income 64,600

Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

LE1 1LB

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118 Charles Street, Leicester, LE1 1LB