Shop for saleHigh Street, Barwell, Leicestershire, LE9
- 2 Let Retail Units
- 1 Vacant F/F Unit
- 1 Let F/F 2 Bed Flat
- 6,275 sqft (583 sqm) approx
- CRV: £24,900 pax
- PRICE: £365,000
We are pleased to offer this substantial mixed use commercial/residential investment property comprising occupied Indian restaurant and motorbike shop on the ground floor with 2 bedroom flat and vacant snooker club/bar on the first floor of approximately 6,275 sqft which is available for sale. The property is located on High Street in Barwell, approximately 12 miles South West of Leicester City Centre, within a mixed residential/commercial area. In addition, the property benefits from a large rear/side yard and loading area providing parking and benefits from planning permission for conversion of the upstairs and rear to form 7 residential apartments (3 x 1 bed, 4 x 2 bed). The property has a total current rental income of £24,900 pax, with an estimated total rental value of approximately £37,000 pax.
The property is located approximately 12 miles South West of Leicester City Centre, on High Street close to the main town centre, on the corner of Church Lane. High Street links with the main Hinckley Road/A47 and provides good/easy access to Earl Shilton, Leicester Forest East and Leicester City Centre. The area comprises a mixture of traditional and modern commercial/industrial/residential properties. The property can be easily identified by our V-Angle 'For Sale' boards on the property.
All measurements are approximate:
Current Rental Income:
Currently holding over - occupied for 11 years
£10,800 pax (£900 pcm)
Currently holding over - occupied for 5 years
£9,000 pax (£750 pcm)
2 Bedroom Flat
6 Month AST - holding over
£5,100 pax (£425 pcm)
£24,900 pax (£2,075 pcm)
Total GIA: 6,275 sqft (583 sqm)
We understand that the snooker club/bar was previously rented at £12,000 pax, providing an estimated total rental income in the region of approximately £37,000 pax.
We understand that the occupants of the ground floor units have both expressed an interest in taking on new 5 year leases with 3 year break clauses (subject to contract).
Side and rear yard areas. We understand that some of the units have an agreement in place for car parking but this is not owned by the freeholder.
Freehold, subject to existing leases/tenancies.
We understand that VAT is not applicable on the purchase price.
The property is currently used as light industrial which falls under B1(c) (Light Industrial) and D2 (Assembly & Leisure) use. B1(c) use includes a range of uses under the 'Light Industrial' classification such as light industry (workshops), and studios. D2 use includes a range of uses under the 'Assembly & Leisure' classification such as cinemas, concert hall, sports halls, swimming baths, skating rinks, gymnasiums, and bingo halls.
There is potential for alternative uses subject to obtaining the relevant planning permission.
The property benefits from planning permission for conversion of the upstairs and rear to form 7 residential apartments (3 x 1 bed, 4 x 2 bed) on a total site area of approximately 524 sqm (5,640 sqft).
Planning permission dated 11.02.16, reference number 15/01310/FUL is available for inspection.
All enquiries regarding planning should be made direct to Hinckley and Bosworth Borough Council Planning Department on (0116) 454 3000.
Mains services are connected to the premises. We understand that there is 1 water meter with the cost currently split between the tenants. We understand that each unit has their own independent electric and gas supply. The services, fittings and appliances (if any) have not been tested by the selling agents.
Charging Authority: Hinckley & Bosworth Borough Council
Description: Offices & Premises
Total Rateable Value: £22,200.00
Rates Payable: £10,944.60 approx
Please make your own enquiries in respect of the rating liability.
Each party to be responsible for their own legal costs.
Premium to be confirmed, we understand that this is split between the tenants.
The property falls under council tax band 'A' which is £1,037.81 for the year 2016/2017.
Energy Performance Certificate
The property has an energy performance rating of 90, Band D.
By appointment through the sole selling agents.
All statements contained in these particulars are provided in good faith and are believed to be correct but their accuracy is not guaranteed. These particulars do not constitute any part of any offer or contract. None of the statements contained herein are, or are intended to be statements or representations of fact or opinion by either the vendor or Shonki Brothers Ltd or its employees or agents.
Neither Shonki Brothers Ltd nor its employees or agents are authorised to make or give any representation, guarantees or warranties whatsoever in relation to the above premises. Interested parties must satisfy themselves by inspection or survey on any matter or statement contained in these particulars.
The premises detailed in these particulars are offered subject to them not having been let, sold or withdrawn and Shonki Brothers Ltd will accept no liability for consequential loss arising from these particulars or any negotiations in relation thereto.
Health & Safety:
You are asked to exercise all care and diligence during your inspection of the property and the Agents are unable to warrant that the property is free of hazards or complies with Health and Safety legislation. The Agents accept no liability for injury or loss to persons or property when visiting.
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