Royal House, Horsefair Street, Leicester, LE1 5BS

For Sale

Horsefair Street
Leicester
LE1 5BS

• FOR SALE
• A Substantial, Four Storey Property With Superb Potential
• Located In Leicester City Centre, With Access From Horsefair Street & Market Place South 
• Total GIA: 7,535 sqft (700.7 sqm) Approx.
• Ground Floor Retail Unit & Former Offices Occupying The First, Second & Third Floors
• P/P Granted For The Change Of Use To Provide 8 Self Contained Flats On The First, Second & Third Floors With An Amenity Space On The Second Floor
• ERV: £134,450 PAX
• OFFERS OVER: £925,000

Summary

A substantial, four storey property conveniently situated within Leicester City Centre which has been brought back to shell condition.

The property briefly comprises a ground floor retail unit benefiting from a steel frame, glazed frontage on both street facing sides of the property, and former office spaces occupying the first, second and third floors which are in a shell condition.

We have been advised that the ground floor is to be split into 3 retail units, with terms agreed on shop 3.

Planning has been granted to provide 8 self-contained flats over the first, second and third floors with an amenity space on the second floor.

Directions

This property is located on Horsefair Street, opposite Town Hall Square and near to Market Street South in Leicester City Centre. The property benefits from being in close proximity to a range of many amenities and facilities including Highcross Shopping Centre, Leicester Railway Station, universities, restaurants and much more.

Accommodation

All measurements are approximate:

Existing:
Ground floor: 2,619 sqft (244 sqm)
First floor: 2,619 sqft (244 sqm)
Second floor: 1,157 sqft (107.5 sqm)
Third floor: 1,140 sqft (105.9 sqm)
Total GIA: 7,535 sqft (700.7 sqm)

Proposed accommodation: 

Planning
Planning has been granted for the change of use of first, second and third floors from commercial & business use (Use Class E) to 8 self-contained flats (2 x studio, 6 x 1 bed) (Class C3).
Planning application no. 20220419. Dated 24.02.22.

Estimated Rental Value
£134,450 pax.

Tenure
Freehold.
We have been advised that there is an ingoing tenant for shop 3 on the ground floor. The terms are as follows; a 10 year lease at £24,000 pax fixed for the first 3 years subject to 3 yearly rent reviews. We understand the proposed use is for a Greek restaurant.
We have been advised that the open space on the second floor is being occupied by a telecommunications provider, with a 10 year lease from 26 August 2016 at a rental of £3,950 pa and an electricity contribution of £500 pa.

Services
The services, fittings, and appliances (if any) have not been tested by the agents.

Local Authority
Leicester City Council.

Energy Performance Certificate

Rating 55, Band C.

Viewing

Kal Sangra, Shonki Brothers Ltd
85 Granby Street, Leicester LE1 6FB
Tel: 0116 254 3373
Email: info@shonkibrothers.com

Disclaimer

Important Information: - Shonki Brothers their clients and any joint agents give notice that:
These particulars are prepared as a general guide for the property and whilst they are believed to be correct their accuracy is not guaranteed. As such all photographs, measurements, floorplans and distances referred to are only provided as a guide and should not be relied upon for the purchase of flooring or any other fixtures or fittings.

Any and all fixtures and fittings listed in these particulars are deemed removable by the vendor. We have not tested any apparatus, equipment, fixtures or services and it is in the buyer’s interest to check the working condition of any applications.

Neither Shonki Brothers Ltd nor its employees or agents are authorised to make or give any representation, guarantees or warranties whatsoever in relation to the above premises. Interested parties must satisfy themselves by inspection or survey on any matter or statement contained in these particulars.

These particulars do not constitute part or all of an offer or contract.

Whilst we take care in preparing these particulars, it is the buyers responsibility to ensure they have carried out all their investigations of the various aspects of the property and that his/her legal representative confirms as soon as possible all matters relating to title, including the extent and boundaries of the property and other important matters, before exchange of contracts

Any ground rent, service charges and any other lease details (where applicable) and council tax are given as a guide only and should be checked and confirmed by your Solicitor prior to exchange of contracts.

The premises detailed in these particulars are offered subject to them not having been let, sold or withdrawn and Shonki Brothers Ltd will accept no liability for consequential loss arising from these particulars or any negotiations in relation thereto.

You are asked to exercise all care and diligence during your inspection of the property and the Agents are unable to warrant that the property is free of hazards or complies with Health and Safety legislation. The Agents accept no liability for injury or loss to persons or property when visiting the property.

In accordance with the Money Laundering Regulations 2017, the intending purchaser will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there is no delay in agreeing the sale.