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Residential Development for sale

Upper Temple Walk, Leicester

Sold by Us £1,250,000

Property Description

Full description

Tenure: Freehold

Leicester is the largest City in the East Midlands region with a population, according to the 2011 Census, of 330,000 people. The city and metropolitan area is culturally diverse and was announced as one of only four short listed cities for the second UK City of Culture award in 2013. It is a major city of learning with the University of Leicester and De Montfort University both being well regarded institutions located in and around the city. Leicester has the largest economy in the East Midlands with major companies that have their principal offices or significant sites in Leicester including Next, Dunelm Mill, Caterpillar and Boden.
Leicester is located on the intersection of the north/south Midland Mainline and East/West Birmingham/Leicester/Cambridge Cross Country Railway Lines and also has excellent proximity to the M1 and M69 motorways and the A46/A6 trunk routes.
Beaumont Leys was largely developed from the 1970s onwards and includes several large housing estates. The area immediately around the subject Property is principally former Local Authority, two and three storey terraced, 1970s and 1980s residential dwelling houses. Local amenities and facilities include the Beaumont Shopping Centre, which includes Boots, Iceland, Poundland, Superdrug, Tesco Extra, Wilkinson and Argos stores, by way of example.

The Property comprises a purpose built, detached, seven storey residential building. Construction appears to be of steel or concrete framed design with principally brick facing elevations and metal cladding to the upper floor. Windows are double glazed UPVC profile and the roof is metal clad. There is a surface tarmacadam covered car park accessed off Milton Crescent for approximately 12 cars and perimeter pedestrian access around the building. From Ordnance Survey ProMap we understand that the site as proposed to be sold extends to approximately 0.11 hectares (0.283 acres).

In total, there are 32 units, being a mix of 1 bed apartments and studio´s in a range of layouts. One bedroom apartments extend to approximately 45 sq metres (484 sq ft) and a 1 bed studio extends to approximately 30 sq metres (323 sq ft). A full schedule of sizes is available upon request.

Other facilities and amenities within 1 kilometre of the subject Property include places of worship, a public house, a doctor´s surgery, a Post Office, a general store, a supermarket, a gym, a restaurant and a fast-food takeaway outlet amongst others.
Demographics In relation to people in the housing market, the area is described by Euro Direct Database Marketing Limited as having households of predominantly young, older and retired singles and single parents. The number of properties owned outright is 8.7%, which is low against the national average of 30.1%. Those properties mortgaged in the area are 15%, again being low against the national average of 39.4%. Those properties privately rented in the area are 7.7% against the national average of 9.1%.

We are advised that all mains services are connected to the property. These services have not been inspected or tested by the agent.

The property is available freehold. The Freehold is the only land in an independent Company and it may be possible to purchase the company if this is tax efficient for the Purchaser.

Purchasers should make their own enquiries for individual rateable values for the apartments. Rateable Value for the management office within the tower is £1,175

We are advised that VAT may be charged on the purchase price.

Both Parties will be responsible for their own legal costs.

Private parking for approximately 12 vehicles.

From our enquiries with the local planning authority, Leicester City Council, we understand that the property has existing use as residential (Use class C3).

Individual EPC's are available upon request for each apartment.

Viewing is strictly by prior appointment via the sole agents Moores Commercial Tel: 01664 431330 or via email

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