This is a rare opportunity to acquire a substantial student residential investment with further potential to increase the lettable area. The property is prominently located at the junction of London Road and Knighton Road in the highly-regarded Stoneygate area of Leicester. There is currently accommodation for 20 students with en suite facilities, wi-fi and off-street parking.
The property is situated on the south-west side of London Road at its junction with Knighton Road in the attractive and popular, established residential area of Stoneygate and lying approximately 1.5 miles south-east of Leicester City Centre.
London Road forms part of the A6 Leicester to Market Harborough road and it is a busy arterial route into the city centre. Both Leicester universities are within easy reach including the University of Leicester Oadby campus which is within walking distance. There are busy and regular bus services running by the property.
In the 2011 Census, the population of the Leicester City Council area was approximately 330,000, the highest in the East Midlands, with approximately 510,000 in the wider Leicester urban area. It is, therefore, the tenth largest city in the UK and England’s 11th largest urban area.
Leicester is situated adjacent to the M1 at its intersection with the M69 and, road communications are very good. The Midland Mainline Railway serves the city and the journey time to London St. Pancras is just over an hour. Furthermore, East Midlands Airport is approximately half an hour’s drive away.
Leicester is a cosmopolitan city with the largest ethnic population in the country with the majority of Asian origin.
There are two large universities, the University of Leicester and Leicester De Montfort with a combined population of approximately 40,000
Major employers include the two universities, Pepsico, Next Plc, Santander, Samworth Brothers, Crown Crest Group, Shoe Zone Group and Topps Tiles.
The property comprises a substantial detached former residential property which has been extended and converted to create student accommodation for 20 people. There is a car park to the front, gardens and a separate one-bedroomed bungalow at the rear which is currently vacant.
The premises are of brick construction with pitched and hipped tiled roofs with the accommodation mostly arranged over two floors. Complete refurbishment took place in 2017.
All rooms are of a generous size and have en suite facilities apart from the two-bed flat which has a shared luxury bathroom.
There is a 10-bedroom flat, a 6-bedroom unit, two studio flats and a two-bedroom flat together with communal laundry facilities.
The current rents total £2,440 per week with individual students paying between £115 and £145. Full details are available upon request.
There is potential for further income from the former administration offices and the rear bungalow.
The site extends to 0.16 hectares (0.41 acres).
The property is connected to main electricity, gas, water and drainage services and the accommodation is heated throughout.
Planning permission was granted for the current use on 2nd February 2018 under application reference 20162159.
All enquiries should be made to Leicester City Council on .
Flats 1 and 5 are valued within Band C for Council Tax purposes and Flats 2,3 and 4 are valued within Band A.
Energy Performance Certificates
C Rating (72)
Each party are to be responsible for their own costs in respect of the transaction.
Stamp Duty Land Tax
Potential purchasers are advised to seek advice in respect of liability for stamp duty land tax in respect of this transaction.
Value Added Tax
VAT is not payable in respect of the transaction.
Possession will be granted on completion of legal formalities.
Strictly by arrangement with Andrew Granger & Co on . Contact Kevin Skipworth at email address
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