58-64 Braunstone Gate
Leicester, England LE3 5LG
United Kingdom

EXCLUSIVE

Property

Ownership: Apartment
Type: Commericial
Rooms: 5
Bedrooms: 5 BR
Bathrooms: 5
Area: 587.0M² (6320 sq ft)
Tenure: Freehold
Price Qualifier: Guide Price
Council Tax Band: TBC

Financials

Price: £1,300,000
($1,664,000)
(€1,540,740.74)
Krishan Mistry
Real Estate Broker
Commerce Square, The Lace Market, Nottingham, NG1 1HS.

Description

Discover this amazing opportunity to acquire well established and renowned four-storey freehold mixed residential and commercial building with five tenanted apartments located in the heart of Leicester's West End, 400 metres from De Montfort University, 800 metres from Leicester University, and only 100 metres from Halls of Residence. The building has been the subject of extensive improvement and refurbishment by the current owners during several years of ownership, notably including the addition of the letting accommodation and the installation of a whole new aesthetic in the commercial space.

Scope To Improve

- Refurbish the apartments to give them a more modern aesthetic. This could easily add tremendous value.

- Given the close proximity of the university, converting the apartments into co-habitable living spaces could readily raise the rent.

- Potential to split the commercial space into 3 units.

Apartments

All five apartments are rented out on an assured shorthold tenancy. All flats are accessed through a separate entrance next to the ground floor commercial unit. All apartments are on 125-year leases that were granted in July, with a total income of £40,500.00 per annum. Freehold ground rents from the five one-bedroom apartments and the commercial unit are £1,250.00 pa. The huge 10ft ceilings are one of the apartments' most striking features.

Commercial

A prime location commercial unit is currently rented to Dog House Group Limited t/a Crafty Dog Leicester for the past 5 years. The existing owners are happy to sign a new 15-year lease at £57,600.00 per year.

Location

The building occupies a prominent and highly visible and elevated landmark trading position, adjacent to one of the largest supermarkets in Leicester, close to the M1, Leicester city centre and Leicester train station. Set in the heart of Leicester's west end, the property also benefits from being on the doorstep of all prime student bars, restaurants and accommodations.

Braunstone is currently undergoing an amazing regeneration scheme intended to enhance its vibrant feel. By reducing several parking spots along the street, it will give more emphasis to cyclists and pedestrians by limiting car access, closing the road to unnecessary traffic during peak hours, and providing broader pavement areas for visitors to the area's shops, cafes, and bars. According to the designs, it will resemble a "mini-Holland."

Amenities

  • 12 ft high ceilings
  • Great Investment Opportunity
  • Prime Location
  • Redevelopment Potential
  • Scope To Increase Rent

Neighborhood

More listings:

RARE FREEHOLD OPPORTUNITY - 5 apartments including a duplex and fully leased commercial space in a prime area!!


All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.