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40 Granby Street & 2-4 Rutland Street, Leicester, LE1 6FB

£1,350,000

£327.99 per sq ft

Business rates & charges may apply

Andrew & Ashwell, Leicester
SIZE AVAILABLE

4,116 sq ft

382 sq m

SECTOR

High street retail property for sale

Key features

  • Single-occupant investment
  • Occupied by Tesco since 2008
  • Prominent corner position
  • City centre location
  • Rear service yard

Description

A 1775-built multi-storey premises occupying a corner position fronting Granby Street and Rutland Street, let to Tesco Stores Limited, trading as Tesco Express.

The ground floor offers open-plan retail accommodation of rectangular proportion currently fitted as a convenience store, with rear stores and goods lift providing access to further ancillary and staff facilities within the basement.

Loading access is provided by way of a shared yard to the rear of the building, accessed via a gated entrance on Rutland Street.

The upper floors comprise of 15 residential flats, the long-leaseholds of which have been sold off individually. Each flat generates a ground rent of £250 Per Annum (totalling £3,750 Per Annum).

The ground floor and basement are let to Tesco Stores Limited to March 2039 with Tenant-only break clause as at March 2034, providing an unexpired term of 9 years and total remaining term of 14 years.

The premises are let on internal repairing terms at a passing rent of £80,000 Per Annum exc. with upwards-only Rent Reviews as of March 2029 and March 2034.

The 15 flats to the upper floors are subject to a ground rent charge of £250 per annum each, equating to £3,750 Per Annum.

The total income therefore equates to £83,750 Per Annum exc.

Brochures

40 Granby Street & 2-4 Rutland Street, Leicester, LE1 6FB

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Leicester Station0.3 miles
  • South Wigston Station3.6 miles
  • Syston Station4.6 miles

About Andrew & Ashwell, Leicester

London Road, Leicester, LE2 0PD

Notes

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