Charnwood House, Forest Road, Loughborough

A unique opportunity to purchase a Freehold investment property, centrally located within the market town of Loughborough. The property is currently let until 2029 and offers a fantastic opportunity to acquire a let building with significant redevelopment potential (STPP).

Description - Charnwood house is a substantial office building of converted bay fronted semi detached houses. Constructed of red brick beneath a pitch tiled roof. Internally the property benefits from a range of office spaces and breakout rooms. Internally, the property requires a programme of updating and refurbishment.

Externally the property benefits from direct frontage onto Forest Road. A large car park with approximatley 16 spaces is located to the rear of the property and is accessed from Royland Road.

Location - Charnwood House is located on Forest Road, Loughborough, adjacent to the Browns Lane junction. A central location with easy access to the wide range of amenities that Loughborough town centre has to offer. The property benefits from good road connections and is within 4 miles of Junction 23 of the M1 motorway.

Ground Floor Accomodation - Entrance Hall (rear) - 5.44m2
Store Room - 1.01m2
Store Room - 1.01m2
Reception - 13.7 m2
Interview Room - 5.00m2
Interview Room - 4.83m2
Meeting Room - 15.79m2
Resources Room - 10.80m2
Office 1 - 11.32m2
Entrance Hall Storage (Front) 3.78m2
Office 2 - 12.38m2
Entrance Hall Storage (Front) - 4.70m2
Office 3 - 14.98m2
Cellar - 9.07m2

First Floor Accomodation - Office 4 - 5.08m2
Office 5 - 12.60m2
Office 6 - 11.23m2
Office 7 - 12.44m2
Office 8 - 9.82m2
Office 9 - 10.18m2
Kitchen - 3.89m2

Second Floor Accomodation - Office 10 - 11.08m2
Office 11 - 15.40m2
Office 12 - 13.40m2

Total: Approximately 255m2 (2,739.81 SqFt)

Floor plans are not to scale and are for guidance only.

Services - It is understood that the property is connected to all mains services.

Epc - D Rating

Guide Price - £700,000 (Seven hundred thousand pounds)

Method Of Sale - Charnwood House is initially being offered for sale by Private Treaty. Offers on a subject to planning basis will be considered. The vendor reserves the right to conclude the sale by an alternative method if required.

Tenure - The property is held Freehold subject to and with the benefit of the occupational lease.

Land Registry Title: LT251248

Tenancies - The property is currently let to Latham and Co solicitors for a term of 6 years from 12th April 2023 on a contracted out lease.

The current passing rent is £20,000 per annum. The rent will increase to £25,000 per year from 2026 until the end of the contractual term. There is provision for a mutual break clause on the 3rd anniversary of the lease.

Further details regarding the tenancy are available upon request.

Planning And Development - The agents understand the property has authorised planning consent under class B1.

The property presents a significant opportunity for conversion into residential or other commercial uses subject to the granting of the necessary planning consents. A preapplication enquiry to the local authority indicated support for redevelopment to five flats. Subject to planning, further development of part of the car park may be possible.

Viewings - Strictly by appointment with the selling agents.

Legal Costs - Each party will be responsible for their own legal costs incurred on the transaction.

Further Information - For further information, please contact:

Edward Higgins BSc (Hons) MRICS
Andrew Granger & Company, 44-46 Forest Road, Loughborough, LE11 3NP
Tel:
Email: edward.