60 Charles Street, Leicester, Leicestershire, LE1

Investment Consideration:
Rental Income: £314,213 p.a.
Total ERV: £515,000 p.a. GIY: 14.71%
VAT is applicable to this property
Comprises 13-storey office building with 2 retail shops at ground floor t/a offices
Refurbished in 2019, with some floors subdivided into individual office suites
Communications are excellent with the M1 and M69 motorways to the south-west, rail services to London St Pancras (1hr), and East Midlands Airport 15 miles to the north-west
Located in the popular St George's cultural quarter, with Tesco opposite and M&S, Primark, Ramada Encore Hotel and Matalan
Both Highcross and Haymarket shopping centres less than a five-minute walk.

Property Description:
The property comprises an office building providing accommodation from the ground floor through to the thirteenth floor. The ground floor provides 2 retail units (E) currently t/a Offices taking advantage of the prominent trading position. Services and plant are installed within the basement area, and on the two flat roof areas.
The accommodation was extensively refurbished in 2019, with the
exception of the 10th floor, and is arranged to provide a mix of open
plan and cellular office accommodation. All floors are served by two
high speed 9-person passenger lifts, as well as WC facilities. The
specification otherwise includes a commissionaire served entrance hall, air conditioning, gas fired central heating, carpeted floors, suspended grid ceilings with inset lighting, security CCTV, and covered parking for 9 vehicles accessed from Yeoman Lane.
Total NIA: 4,418.43 sq m (47,560 sq ft)

Development Potential:
Planning previously granted in November 2022 (now lapsed) for a change of use from offices to 72 residential apartments (C3), providing the following accommodation and dimensions:
First-Fourth Floor:
6 x 1-Bed & 3 x 2-Bed per each floor
Fifth-Thirteenth Floor:
3 x 1-Bed & 1 x 2-Bed per each floor
Total: 51 x 1-Bed and 21 x 2-Bed Apartments
Further development potential for roof extension of the east-wing, as well as potential to convert into student accommodation (architects suggest potential for over 80 units).
For more information, please visit
Leicester Planning Portal:
Planning Ref: 20211604
Appeal Ref: 20218078A

Location:
Leicester is the main commercial centre and administrative capital of Leicestershire. With a population of 368,000 (2021) Leicester is the largest city in the East Midlands and tenth largest city in the United Kingdom. The wider Leicester urban area has a population of 560,000 (2021) and is a fast growing youthful city driving a £23.5 billion economy with a particular focus on tech start-ups. The city benefits from excellent road communications being located immediately to the east of the M1 with access from junctions 21,21a and 22, providing north south links and access to London. In addition, the M69 provides access to the M6 and M42, and the wider Midlands region and Birmingham.Leicester railway station provides direct services to London St Pancras with five services every hour and journey times from 63 minutes. There are also frequent services to Derby (21 mins) Nottingham (21 mins) and Birmingham (48 mins).