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Character Property for sale

De Montfort Mews, Leicester, Leicester

Guide Price £1,300,000

Property Description

Key features

  • Possible conversion to residential
  • Total NIA 8,550 sq. ft. (794.31 Sq. M)
  • Close to East Midlands Rail Station
  • Present income 54,800 per annum exclusive

Full description

An office investment with residential potential comprising nine fully self-contained, two storey and independent office units, each with a kitchen and WC.

Development - The initial development comprises nine fully self-contained and independent office units, that are two-storey in design and constructed in brickwork under a pitched slate roof. Each floor provides relatively clear and unencumbered accommodation, being fully carpeted with plastered and painted walls. Present occupiers have installed varying degrees of internal demountable partitioning. There are WC and kitchen facilities within each unit.

Car parking is available in front of each unit and to the rear.

Location - The development is situated on De Montfort Mews that lies off De Montfort Street, close to its junction with London Road and within 1 mile of the city centre. The area forms part of the prime office core, but also an area that is developing rapidly as a residential area, with a number of new and refurbishment schemes, including the award winning Stonesby Development. Pedestrian access into the city centre is via London Road or New Walk. The site lies close to the East Midlands Rail Station with links to London St Pancras.

Planning - The development generally has planning approval for use as offices, in accordance with Class B1( a), with the exception of Unit 7 that has a Class D1 use.

Permitted Development Rights may allow the conversion of the development to a residential use and interested parties are advised to speak with the Local Planning Authority in this regard.

Tenure - Offers are invited for the freehold interest, subject to the terms of the occupational tenancies that are outlined opposite.

Potential - The site offers significant potential for refurbishment into residential accommodation, in view of the present vacant units and the relatively close lease expiry dates.

Services - Mains, electricity, water and drainage are connected to the property. There is no gas.

Rates - The current leases provide for tenants to be liable for rates. The vacant unit liability is as follows:

Units 4 & 7
Rateable Value (2016/17)£6,800.00
Rates Payable£3,291.20

Accommodation - 9 Individual Units, Each 88.25 Sq. M / 950 Sq. Ft
Total NIA 794.31 Sq. M / 8,550 Sq. Ft

(Measurements are quoted on a Net Internal basis, in accordance with the RICS Code of Measuring Practice.)

Epcs - Available on request.

Tenancy Schedules - Available on request.

Directional Note - Proceed into Leicester on the A6 London Road, before the train station take the left into de Montfort Street and first right onto De Montfort Mews where the units can be found by our Agents for sale board.

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More information from this agent

Listing History

Added on Rightmove:
27 June 2016

Map & Street View

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