Commercial Investment Building, Shops Cafe and Offices - Leicester: Price: Offers In Region Of £1,200,000 For Sale

Commercial

  • Commercial Investment Building, Shops Cafe and Offices - Leicester
  • Commercial Investment Building, Shops Cafe and Offices - Leicester
  • Commercial Investment Building, Shops Cafe and Offices - Leicester
  • Commercial Investment Building, Shops Cafe and Offices - Leicester

Full Details:


A mixed investment for sale freehold including 4 separate spaces with, Yorkshire bank, Barclays bank, café Rio and a vacant first floor office. The ground floor area is approx. 3800 SQ FT and the first floor accommodation covers approx. 3600 sq ft. The current income from the occupied space is £111,250. Prominently situated in the centre of the market town of Hinckley surrounded by retail, offices and leisure/licensed premises. Currently representing a return after costs of purchasing at 8.75% based on the asking price of £1.2m.

LOCATION
The property occupies the corner of Market Place and fronts on to the Borough. The popular market operates adjacent to the property and is there on a Monday, Friday and Saturday. The town has a smaller shopping centre call the Britannia shopping centre close by which boasts the new Crescent scheme which is now open and trading. It is located within walking distance from the town centre and is anchored by a Sainsbury's superstore, Cineworld multiplex and Simply Gym. Other outlets are secured by Costa, Burger King, Prezzo and Loungers.

The property is located in the centre of the town of Hinckley, the second largest market town in Leicestershire, after Loughborough. The town is located approximately 15 miles North of Coventry which is easily accessed by the M69 and M1 and approximately 14 miles South West of Leicester.

DESCRIPTION
The accommodation is predominantly arranged on ground and first floors within an attractive building having brick and rendered elevations under a pitched and tiled roof. The units are occupied by Barclays Bank, Yorkshire Bank and a café. Barclays operate within a split freehold demise part of which is not included in the sale, a substantial portion of the branch - including the first floor - is within the subject property. The lease on the Yorkshire Bank expires on the 8th August 2019, although it is understood that they intend to vacate the property in July 2017.

ACCOMMODATION
Number 1: Clydesdale Bank (trading as Yorkshire) 3428 SQ FT ground and first floor - Rent £53,250 - expires 08/08/2019

Number 3: Harris/Shipway (Café Rio) 1064 SQ FT ground floor only - Rent £30,000 - expires 31/05/2021 no breaks

Number 5: Barclays Bank PLC - 1913 SQ FT - ground and first floor - Rent £28,000 - expires 21/06/2027 - break at 21/6/2022

Number 3A: Vacant office space - 1000 SQ FT inc entrance lobby - expected rent £6,000 to £8,000

AMENITIES
Located in the heart of Hinckley town centre close to all retail and leisure amenities within this market town.

SERVICES
We are advised that all mains services are connected to the property. These services have not been inspected or tested by the agent.

TERMS
Offered for sale as a freehold investment.

OUTGOINGS
Please contact the relevant local authority for rates information or the Valuation office agency at www.voa.gov.uk

VAT
VAT will be charged on the purchase price as the property is elected to tax

LEGAL COSTS
Each party is responsible for their own legal fees.

SERVICE CHARGE
Management information is available on request, service and management fees are paid on addition to the rent by all tenants

PARKING NOTES
No Parking is included with the property. Town centre short and long term parking is available

OTHER
Finance may be available through Independent Financial Brokers and Moores Commercial would be please to make an introduction for you. The Brokers are completely Independent of Moores Commercial and will offer confidential, unbiased advice regulated by the Financial Authorities. Please ask for further details

VIEWING
Viewing is strictly by prior appointment via the sole agents Moores Commercial Tel: 01664 431330 or via email office@moorescommercial.com