5 bedroom mixed use for sale

Ashby Road, Loughborough, Leicestershire, LE11

Under Offer £495,000

Property Description

Commercial information

  • Use class orders: A4 Drinking Establishments and C3 Dwelling Houses

Full description

Tenure: Freehold

Location

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.

Description

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.

Rental

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.

Price

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.

Legal Costs

Each party to be responsible for their own legal costs incurred in the transaction

Viewing

Strictly by appointment with the sole agents.

More information from this agent

Nearest stations

  • Loughborough (1.0 mi)
  • Barrow upon Soar (3.4 mi)
  • Sileby (5.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Oak Property Consultants, Nottingham

34 Shakespeare Street, Nottingham, NG1 4FQ

0115 798 0076 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Loughborough (1.0 mi)
  • Barrow upon Soar (3.4 mi)
  • Sileby (5.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Oak Property Consultants, Nottingham

34 Shakespeare Street, Nottingham, NG1 4FQ

0115 798 0076 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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