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Agent's details

96-100 Charles Street, Leicester, LE1 1FB

For sale: £400,000.00|3,210 Sq Ft|Retail, Land, Office, Offices, Mixed Use, Commercial Land, Other Property Types & Opportunities

Property details

FOR SALE£400,000.00
SIZE3,210 Sq Ft
ADDRESS96-100 Charles Street, Leicester, LE1 1FB
TYPERetail, Land, Office, Offices, Mixed Use, Commercial Land, Other Property Types & Opportunities
TENUREFor Sale Freehold
POSTED ON29th May 2024

Description

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/Sales 22.5 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/Sales 50.9 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

Terms
he 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.

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). (0116) 2227575

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.

Location

marker
Location: 96-100 Charles Street, Leicester, LE1 1FB

Loughborough (0.4 miles)

Barrow Upon Soar (2.9 miles)

Sileby (5.0 miles)

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