LOT 10
GUIDE PRICE: £1,425,000 - £1,450,000 + VAT ON COMMERCIAL PARTS
9-11 Cheapside, Leicester LE1 5EB & 1-5 Cank Street, Leicester, LE1 5GX
Solicitor Details
Saifee Solicitors, 37 Beaumont Street, Oadby, Leicester LE2 4DA Tel: (0116) 243 8852 ~ Ref. Z Patel
*Guide Price & Reserves
COMMERCIAL / RESIDENTIAL INVESTMENT
Property 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.
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
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
TENANT
ACCOMMODATION
SQFT (SQM)
EPC
LEASE / TENANCY
RENT £ PAX
9 Cheapside
Clays Butcher
Retail sales area, preparation room, basement for storage and ancillary space
1,129 (104.97)
113, E
5 year IRI lease from 25.03.2017 plus service charge
36,000
11 Cheapside
Subway Realty Ltd
Retail sales area, preparation room, WC
897 (83.4)
92, D
10 year lRI Lease from 30.01.2018 plus service charge
26,000
Current Commercial Income, VAT applicable on the commercial units
62,000
Market Square House, 5 Cank Street
First Floor
Flat 1 (rooms 4-6)
3 en-suite bedrooms, communal kitchen/lounge
60, 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/lounge
Pending
Flat 4 (rooms 7-9)
3 en-suite bedrooms, communal kitchen/lounge
Pending
Current Residential Income - Landlord pays for electrics
90,000
Total Gross Rental Income
152,000
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.
