5 bedroom mixed use for saleAshby Road, Loughborough, Leicestershire, LE11
Under Offer £495,000
- Use class orders: A4 Drinking Establishments and C3 Dwelling Houses
The property occupies a prominent position at the junction of Ashby Road and Regent Street. Ashby Road forms the main link between Loughborough University to the west and the town centre to the east.
The area is a mixture of residential and commercial with the majority of residential properties having been let to students.
The property comprises a two storey property with the ground floor comprising a self contained public house which benefits from a rear beer garden and 2 trading areas. To the upper floors is a Large 5 bedroom flat which comprises a kitchen diner, 5 bedrooms, bathroom and a separate WC. In addition there is an external terrace area.
To the side of the property there is a shared car park, which could provide future redevelopment potential.
The ground floor has been let on a 10 year lease from October 2015 at a passing rental of £27,500 per annum, the lease provides for a fixed uplift at the end of year 3 to £30,000 per annum. In addition there is a tenant only break at the end of the 5th year.
The flat has been let to students for the 2016/17 academic year on the basis of a 52 week tenancy at an overall rental of £22,620 per annum (£87 per person per week). The tenancy is on
an inclusive of bills basis.
Offers in excess of £495,000 are sought for the freehold interest subject to the above tenancies. The current tenant would consider selling the business via separate negotiations.
Each party to be responsible for their own legal costs incurred in the transaction
Strictly by appointment with the sole agents.
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