Provincial House, 37 New Walk, Leicester, LE1 6TU

Provincial House enjoys the unusual combination of a tranquil yet prime city centre location providing professional office accommodation over the ground and 3 upper floors. The principal entrance to Provincial House is located directly off New Walk, supplemented by a secondary access from the rear car park.

Provincial House is a Grade II Listed Building within the New Walk Conservation Area in the heart of the city centre. The front elevation of Provincial House has been designed to reflect a property of the Regency period and as such be in-keeping with the New Walk Conservation Area status.

The rear elevations are typical of the 1960’s/early 1970’s .

The accommodation is laid out in a ‘T’ configuration around a central service core providing 3 wings of primarily open plan office accommodation.

Two x 630kg/8 person passenger lifts serve all floors.

The office accommodation is centrally heated and served by perimeter trunking although individual tenants have improved on this original specification.

There are 29 on site parking spaces.

The city of Leicester is the largest city in the East Midlands with a population of 368,600 reported in the 2021 Census. The greater Leicester urban area has a population of 559,017 which in 2021 made it the eleventh most populus in England.

The city lies on the River Soar approximately 90 miles north-west of London; 33 miles north-east of Birmingham; 21 miles north-east of Coventry, and south-east Nottingham & Derby.

Leicester has excellent road communications being adjacent to the M1 which can be conveniently accessed via Junctions 21, 21a or 22.

Rail communications to London are also good with a direct link to London St Pancras having the fastest journey time of 1 hour & 10 minutes. Leicester’s Mainline Railway Station is only a 5 minute walk from Provincial House. Provincial House is located in the heart of Leicester’s central business district in a prominent position on the pedestrianised New Walk. Vehicular access is provided from Princess Road West and Regent Road to the rear with a link to Waterloo Way, part of the city’s inner ring road system.

Freehold, subject to and with the benefit of the existing tenancies as set out in the schedule.

Leases are effectively full repairing and insuring administered via a building service charge, details of which are available on request.

The property has an EPC rating of 83 falling within Band 'D'.

The property is a Grade II Listed Building located in the New Walk Conservation Area.

There are numerous asset management opportunities open to any potential purchaser. This includes the letting of currently vacant space, lease renewals and re-gearing opportunities increasing the potential rental income to closer to £352,000 per annum.

The rent is subject to VAT at the prevailing rate, the sale can be treated as a TOGC for VAT purposes.

In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.

Offers are invited in excess of £2.25m (Two million two hundred and fifty thousand pounds) reflecting a net initial yield of 9.41% allowing 6.33% purchasers costs.