10 Westcotes Drive, Leicester, LE3 0QR

Interested parties should contact Knight Frank Auctions for further information.

Description
On the Instructions of Joint Receivers.

A substantial former hotel premises arranged over three stories and basement, extending to approximately 3,767 sq ft (350 sq m). It occupies a prominent position within the popular Westcotes area of Leicester, approximately 1 mile west of the city centre.

The property, formerly known as the Scotia Hotel, is understood to have ceased trading several years ago and has subsequently been stripped out internally. The building is currently in shell condition and presents a significant redevelopment and asset management opportunity.

Planning permission was previously granted by Leicester City Council (ref:20162254) in 2017 for the change of use and conversion of the former hotel to provide 10 self-contained residential flats comprising 3 studio apartments, 6 one-bedroom apartments and 1 three-bedroom duplex apartment. The approved scheme retained provision for 4 off-street parking spaces and cycle storage. Works are understood to have been limited largely to internal strip out and purchasers should make their own enquiries regarding the condition of the building, implementation of the planning permission and any further consents that may be required.

The property is considered suitable for a variety of alternative uses, subject to all necessary consents, including completion of the previously approved residential conversion scheme. Interested parties should rely on their own enquiries.

Open House viewings:
Tuesday 1st September: 12:00pm - 12:30pm
Saturday 5th September: 12:00pm - 12:30pm
Thursday 10th September: 12:00pm - 12:30pm
Please arrive at the start time.

Note
Due to health and safety concerns, including reports of deteriorated and potentially unsafe upper floor structures, access has not been available to all parts of the property. Interested parties will not be provided with access to the upper floors and must rely on their own investigations.
The accommodation has been taken from the measured survey forming part of the previous planning permission.

This property is being marketed for sale on behalf of Joint LPA Receivers and therefore no warranties, representations or guarantees are given or will be given in respect of the information in this brochure or any matter relating to the property, including VAT. Any information provided is provided without liability for any reliance placed on it and the Receivers are acting without personal liability.

Location
Westcotes Drive occupies a prominent position within the established Westcotes district of Leicester, approximately one mile west of the city centre. The property is situated on the eastern side of Westcotes Drive close to its junction with Narborough Road (A5460), one of Leicester's principal arterial routes, providing excellent access to the city centre, the M1/M69 motorway network and Fosse Park Retail Centre.

The surrounding area comprises a mix of residential housing, apartments, community facilities and local commercial amenities. Narborough Road is renowned for its diverse retail, leisure and restaurant offering, whilst Leicester city centre provides an extensive range of employment, shopping, educational and transport facilities.

Leicester Railway Station lies within easy reach and provides regular services to London St Pancras and other major regional centres. The area is popular with owner occupiers, tenants and investors due to its proximity to Leicester Royal Infirmary, De Montfort University, the city centre and major employment hubs.

Occupancy
Vacant

Tenure
Freehold

The buyers fee is including VAT. This is only payable by the successful purchaser. There are no costs to bidding for the property.

Auction Details
The sale of this property will take place on the stated date by way of and is being sold as Unconditional.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to the Common Auction Conditions and Extra General Conditions.

Auctioneer Fees and Deposit
The following deposits and non-refundable auctioneer fees apply:

• 10% deposit, subject to a minimum of £5,000. The deposit contributes to the purchase price.
• Buyer’s Fee- the value of this fee will be listed against the property details, inclusive of VAT.

The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
There may be additional fees contained within the Special Conditions of Sale, which can be viewed within the Legal Pack. You are strongly advised to read the Legal Pack carefully before bidding.

Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the Knight Frank Auctions website.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.