Commercial Property for sale

High Street, Leicester

£2,650,000

Property Description

Full description

This is an excellent opportunity to acquire Freehold City Centre premises let to a well-known High Street retailer. It lies close to many recognised occupiers including McDonalds, KFC, Five Guys and Lloyds Bank and is adjacent to the popular Highcross Shopping Centre. The building is let to HMV on full repairing and insuring terms at a rent of £175,000 per annum under a lease expiring in January, 2020. HMV has recently regained its position as the UK's second biggest entertainment retailer.

Situation - The property is situated on High Street in the heart of Leicester City Centre. High Street is a busy, pedestrianised thoroughfare and is home to the likes of McDonalds,, KFC, Five Guys and Lloyds Bank and with the main entrance to the Highcross shopping centre being close by. Highcross is one of the largest and most popular retail centres in the country with over 100 stores anchored by John Lewis, Debenhams and House of Fraser.
In the 2011 Census, the population of the Leicester City Council area was approximately 330,000, the highest in the East Midlands, with approximately 510,000 in the wider Leicester urban area. It is, therefore, the tenth largest city in the UK and Englands 11th largest urban area.
Leicester is situated adjacent to the M1 at its intersection with the M69 and, road communications are very good. The Midland Mainline Railway serves the city and the journey time to London St. Pancras is just over an hour. Furthermore, East Midlands Airport is approximately half an hours drive away.
There are two large universities, the University of Leicester and Leicester De Montfort with a combined student population of approximately 30,000
Major employers include the two universities, Pepsico, Next Plc, Santander, Samworth Brothers, Crown Crest Group, Shoe Zone Group and Topps Tiles.
Leicester has a broad industrial and commercial base with nearly 25% of the population working in the manufacturing sector compared with a national average of 15%.

Description - The property comprises a modern, three-storey building with a large basement with retail trading on three floors and ancillary accommodation on the second floor. There is a long frontage to High Street and, internally, the trading floors are linked by escalators and a passenger lift.

Accommodation - The property has the following net internal floor areas when measured in accordance with the RICS Code of Measuring Practice.
Basement Sales 415.1 sq. m. (4,468 sq. ft.)
Ground Floor Sales 409.7 sq. m. (4,410 sq. ft.)
First Floor Sales 356.3 sq. m. (3,835 sq. ft.)
Second Floor Ancillary 100.4 sq. m. (1,081 sq. ft.)

Tenure - Freehold

Tenancy - The property is let to HMV Retail Limited under a lease on full repairing and insuring terms expiring on 31st January, 2020 at a rent of £175,000 per annum without review.

HMV has recently reclaimed its position as the UK's second largest entertainment retailer establishing a market share of 16.9% at May 2016. This was a 2% increase year on year compared with Amazon's fall from 22.6% to 22% for the same period.

Rent - £175,000 per annum.

Price - £2,650,000

Business Rates - The property is described in the 2010 Rating List as Shop and Premises with a Rateable Value of £109,000.

Planning - A1 Retail

Energy Performance Certificate - An EPC is being prepared and will be avaiable shortly.

Costs - Each party will be responsible for their own costs in respect of the transaction.

Viewing - Strictly by arrangement with Andrew Granger & Co.


More information from this agent

Nearest stations

  • Leicester (0.5 mi)
  • South Wigston (3.7 mi)
  • Syston (4.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Andrew Granger & Co, Leicester

Attenborough House, 10-12 Rutland Street, Leicester, LE1 1RD

0116 452 0070 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

  • Leicester (0.5 mi)
  • South Wigston (3.7 mi)
  • Syston (4.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Andrew Granger & Co, Leicester

Attenborough House, 10-12 Rutland Street, Leicester, LE1 1RD

0116 452 0070 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.

Disclaimer - Property reference 26523801. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Andrew Granger & Co, Leicester. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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