Investment for sale Leicester LE1 6FB,4116sq ft

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Investment

Investment For Sale Leicester

PROPERTY ID: 139464

PROPERTY TYPE

Investment

STATUS

Available

SIZE

4,116 sq.ft

Key Features

Single-occupant investment

Occupied by Tesco since 2008

Prominent corner position

City centre location

Rear service yard

Property Details

A 1775-built Multi-storey Premises Occupying A Corner Position Fronting Granby Street And Rutland Street, Let To Tesco Stores Limited, Trading As Tesco Express.

The Ground Floor Offers Open-plan Retail Accommodation Of Rectangular Proportion Currently Fitted As A Convenience Store, With Rear Stores And Goods Lift Providing Access To Further Ancillary And Staff Facilities Within The Basement.

Loading Access Is Provided By Way Of A Shared Yard To The Rear Of The Building, Accessed Via A Gated Entrance On Rutland Street.

The Upper Floors Comprise Of 15 Residential Flats, The Long-leaseholds Of Which Have Been Sold Off Individually. Each Flat Generates A Ground Rent Of £250 Per Annum (totalling £3,750 Per Annum).

The Ground Floor And Basement Are Let To Tesco Stores Limited To March 2039 With Tenant-only Break Clause As At March 2034, Providing An Unexpired Term Of 9 Years And Total Remaining Term Of 14 Years.

The Premises Are Let On Internal Repairing Terms At A Passing Rent Of £80,000 Per Annum Exc. With Upwards-only Rent Reviews As Of March 2029 And March 2034.

The 15 Flats To The Upper Floors Are Subject To A Ground Rent Charge Of £250 Per Annum Each, Equating To £3,750 Per Annum.

The Total Income Therefore Equates To £83,750 Per Annum Exc.

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About the Agent

Andrew & Ashwell Ltd

See Agent's Other Properties

Investment Unit

£1,350,000 Freehold

40 Granby Street & 2-4 Rutland Street, Leicester, LE1 6FB

Investment - Available
4,116 sq ft
382 sqm

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