£400,000

Property for sale

  1.  Img_1472.Jpeg
  2.  Img_1471.Jpeg
  3.  Img_1456.Jpeg
Freehold

£400,000

(£103.90/sq. ft)

Property for sale

Charles Street, Leicester LE1

3,850 sq. ft

Local area information

Property location

Nearby amenities

  • Leicester 0.3 miles
  • Moat Community College 0.4 miles
  • Al-Ihsaan Community College 0.5 miles
  • South Wigston 3.7 miles

These distances are calculated in a straight line. The actual route and distance may vary.

Read our area guide for Leicester to find out more about the local area.

Features and description

  • Freehold
Readings Property Group are pleased to bring to market the opportunity to purchase an investment with development potential. The property currently produces an income of £27,000 per annum. There is future residential development potential in the event the tenant occupying the upper floors vacates.

Location

The property is located on Charles Street with a frontage also to Rutland Street. Charles Street leads to the pedestrianised section of Humberstone Gate which is a prime retail area, accommodating occupiers such as Tesco, Primark, Marks & Spencers and Superdrug and provides access to the Haymarket Shopping Centre. The city’s main bus station is located on Charles Street.

Description

The property is a corner three storey building plus a basement which is split to provide two retail units on the ground floor with shopfronts and offices to the upper floors that are linked to one of the retail units (No.96). The basement is accessed from No.100. No.96 is arranged over ground, 1st & 2nd floor and No.100 is over ground floor and basement.

Accommodation

The Net Internal Area is as follows

96 Charles Street
Ground Floor Retail/Sales22.5 sqm (242 sf)
First Floor Offices 93.9 sqm (1010 sf)
Second Floor Offices 81.3 sqm (875 sf)

Total NIA 197.7 sqm (2,127 sf)

100 Charles Street
Ground Floor Retail/Sales50.9 sqm (547 sf)
Basement 49.8 sqm (536 sf)

Total NIA 100.7 sqm (1,083 sf)

The total gross internal area of the whole site is approx 3,850 sqft

Tenancy Schedule

The property is current let to two tenants on the following terms:

No.96
Let to Andersons Letting for 10 years, whcih was renewed from 20 July 2015 (original lease dated 20 July 2005). The current rental being paid is £16,000 per annum.

No.100
Let to Bricks & Home Group Ltd for a term of 5 years from 09 February 2023 at a rent of £11,000 per annum.

Terms & Opportunity

There is an opportunity to convert the upper floors and part of the ground floor in to residential appartments subject to planning.

The property is on the market for offers at £400,000.

Rating

Rateable value £4,600 - No.96
Rates payable 2024/25: £2,295.40

Rateable value £7,400 - No.100
Rates payable 2024/25: £3,692.60

Prospective purchasers are required to confirm rates payable with the local authority and make their own enquiries regarding small business rates relief.

Energy Performance

No.96: D Rating
No100: D Rating

Vat

We understand VAT is not applicable.

Services

Mains water, gas and electric are available, however gas in only connected to No.96.

Legal Costs

Each party to bear their own legal costs

Viewings

Strictly by appointment with sole agent, Readings Property Group, 48 Granby Street, Leicester LE1 1DH (Hassan Gaffar).

Agent Notes

Consumer protection legislation - These details have been written to conform to Consumer Protection Legislation. Whilst we endeavour to make our Details accurate and reliable, if there is any point of particular importance to you, please contact the office and we will check the information for you, particularly if contemplating travelling some distance to view. Measurements are given in good faith and whilst believed to be accurate these should be checked by the prospective tenant for verification. The measurements are carried out in accordance with the RICS Code of Measuring Practice (6th Edition) and isva code of measuring practice.

More information

Report this listing

Property descriptions and related information displayed on this page are marketing materials provided by - Readings Property Group Ltd. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Readings Property Group Ltd for full details and further information.

  1. Zoopla
  2. Commercial for sale
  3. Leicestershire
  4. Leicester
  5. Leicester City Centre
  6. Charles Street

Sold house prices provided by Land Registry/Registers of Scotland. © Crown copyright 2024. Our website is completely free for you to use but we may receive a commission from some of the companies we link to on the site.

Zoopla Limited is an appointed representative of Uswitch Limited which is authorised and regulated by the Financial Conduct Authority (FRN 312850) to provide the mortgage calculator tool and incorporated with company registration number 06074771 and registered office at The Cooperage, 5 Copper Row, London SE1 2LH. Uswitch Limited is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 312850.

Zoopla.co.uk is not a mortgage intermediary and makes introductions to Mojo Mortgages to provide mortgage solutions. Zoopla.co.uk and Mojo Mortgages are part of the same group of companies. Zoopla may receive an introduction fee from Mojo Mortgages on completion of successful mortgage applications. This fee is based on a percentage of your loan amount. Mojo is a trading style of Life's Great Limited which is registered in England and Wales (06246376) and is authorised and regulated by the Financial Conduct Authority and is on the Financial Services Register (478215). Mojo's registered office is The Cooperage, 5 Copper Row, London, SE1 2LH. To contact Mojo by phone, please call 0333 123 0012.