LOT 14
GUIDE PRICE: £625,000 - £650,000
14 Long Street, Wigston LE18 2BP & 2 Central Avenue, Wigston, LE18 2AA
Solicitor Details
Oliver Charles, 534 Uppingham Road, Leicester LE5 2GG Tel: (0116) 243 1166 ~ Ref: O Charles
*Guide Price & Reserves
COMMERCIAL INVESTMENT
Property Description
A substantial part 2 storey corner commercial property comprising of 2 main buildings of approximately 15,529 sqft (1,443 sqm) with courtyard area and car parking. The property has been extended and split to provide two self-contained units with access from Long Street to the gymnasium and access from Central Avenue to the snooker club.
Location:
The property is located on the corner of Long Street and Central Avenue, near to the junction of Bushloe End and Moat Street.
Planning
- Existing use previously under Class D2, now Class E
- Planning had been submitted in 2018 for part conversion of the property to 18 residential flats and retention of the gymnasium
- Local Authority: Oadby & Wigston Borough (0116) 257 2636
Tenure
Freehold, subject to existing leases.
USE
ACCOMMODATION
SQFT (SQM)
EPC
LEASE
RENT £ PAX
Part Ground Floor & First Floor, 2 Central Avenue & First Floor, 14 Long Street
Snooker Club
G/F:
Bar, 3 games rooms, kitchen, WC
F/F:
Large snooker/games hall, private snooker rooms4,335 (405)
6,268 (582)68, C
Let on a FRI lease for a term of 25 years from 03.03.2020.
Rent increases:
03.03.2030 to £33,000 pax
03.03.2035 to £36,000 pax
03.03.2040 to £39,000 pax30,000
14 Long Street & Basement, Part Ground Floor, 2 Central Avenue
Gymnasium
Basement:
Partitioned studio space
G/F:
Gymnasium, changing rooms/WCs, partitioned ancillary space1,887 (175)
3,019 (280)67, C
5 year FRI lease dated 26.10.2020
16,000
Outside
Gated access to yard area, separate car parking land on Willow Place for approximately 8 cars
Current Rental Income
46,000
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.
