58-64 Braunstone Gate
- BEDROOMS
5
- BATHROOMS
5
- SIZE
Ask agent
- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- Prime Location
- 12 ft high ceilings
- Great Investment Opportunity
- Scope To Increase Rent
- Redevelopment Potential
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."
Energy performance certificate - ask agent
Council TaxA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council tax in our glossary page.
Band: TBC
58-64 Braunstone Gate
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Leicester Station0.9 miles
- South Wigston Station3.4 miles
- Narborough Station4.8 miles
About the agent
Nest Seekers International, London
1 Cornhill, London EC3V 3ND W1J 9EH
Nest Seekers International is a game-changing firm in the rapidly expanding global real estate marketplace. The firm’s hybrid tech-enabled service model has inspired a new way of thinking in the industry, and its approach to daring and unconventional marketing has elevated and revolutionized the way people think of real estate.
Industry affiliations
Notes
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