king street, leicester
Offers Over
£350,000
£147.12 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
2,379 sq ft
221 sq m
- SECTOR
Commercial property for sale
Key features
- City Centre Investment Opportunity
- Current Rental Income: £26,250 per annum
- Potential to acheive approx. 9% return
- Prominent Building.
Description
Readings Property Group are pleased to bring to market an investment opportunity in the heart of Leicester City Centre. The property is located on King Street, close to the Mattioli Woods Offices, and within a short walk to Highcross Shopping Centre. The investement offers the opportunity to acheive a 9% gross yield after rent reviews. The current rental is £26,250 per annum.
Location - The building occupies a prominent position within Leicester city centre, situated on King Street within the established central business and commercial area.
The property benefits from a highly accessible city-centre location, with Leicester's principal retail, professional, leisure and hospitality amenities all within convenient walking distance. The surrounding area comprises a varied mix of commercial premises, offices, retail and food and beverage operators, creating an established and active urban environment.
Opportunity - The site consists of three retail units fully let and with a total rental of £26,250 per annum, a gross yield of 7.5%. and the potential to achieve a 9% yield after rental increases in March 2027. 15&17 King Street are occupied by a well-established cafe trading as 'Bread & Honey'. The owners have in recent years carried out a refurbishment programme and committed to a lease expiring in 2030. No.19 King Street is occupied by an Art Gallery with a lease expiring in 2028.
The current rentals are as follows:
15 King Street: £9,850 pa
17 King Street: £8,400 pa
19 King Street: £8,000 pa
Total Rental Income £26,250 per annum
Estimated Rental Income £32,000 per annum
Terms - The property is being offered at Offers over £350,000
Accommodation - All of the retail units are arranged over ground, first and second floors with the following measurements:
No.15 & 17: The property has been merged by the tenant to create one large cafe. It has been refurbished to a high standard and has a Gross Internal Area of Approx, 196 sqm (2,106 sqft)
No.19: The premises is occupied by an Art Gallery and has a Gross Internal Area of approx. 27.5 sqm (273 sf)
Rating - Rateable value:
No.15 & 17: £18,000
No.19 £3,500
Prospective buyers are required to confirm rates payable with the local authority
Energy Performance - All EPC's are valid. copies will be provided.
Planning - We believe the current planning use would fall under Class E.
We would advise all interested parties to make their own enquiries and not solely rely on information we have provided
Vat - We understand VAT is not applicable.
Services - Mains Gas, Electric & Water
Legal Costs - Each party to be responsible for their own costs.
Viewings - Strictly by appointment with sole agent, Readings Property Group, 48 Granby Street, Leicester LE1 1DH (Hassan Gaffar).
Agents Notes - CONSUMER PROTECTION LEGISLATION - These letting details have been written to conform to Consumer Protection Legislation. Whilst we endeavour to make our Details accurate and reliable, if there is any point of particular importance to you, please contact the office and we will check the information for you, particularly if contemplating travelling some distance to view. Measurements are given in good faith and whilst believed to be accurate these should be checked by the prospective buyer/tenant for verification. The measurements are carried out in accordance with the RICS and ISVA code of measuring practice
Location - The building occupies a prominent position within Leicester city centre, situated on King Street within the established central business and commercial area.
The property benefits from a highly accessible city-centre location, with Leicester's principal retail, professional, leisure and hospitality amenities all within convenient walking distance. The surrounding area comprises a varied mix of commercial premises, offices, retail and food and beverage operators, creating an established and active urban environment.
Opportunity - The site consists of three retail units fully let and with a total rental of £26,250 per annum, a gross yield of 7.5%. and the potential to achieve a 9% yield after rental increases in March 2027. 15&17 King Street are occupied by a well-established cafe trading as 'Bread & Honey'. The owners have in recent years carried out a refurbishment programme and committed to a lease expiring in 2030. No.19 King Street is occupied by an Art Gallery with a lease expiring in 2028.
The current rentals are as follows:
15 King Street: £9,850 pa
17 King Street: £8,400 pa
19 King Street: £8,000 pa
Total Rental Income £26,250 per annum
Estimated Rental Income £32,000 per annum
Terms - The property is being offered at Offers over £350,000
Accommodation - All of the retail units are arranged over ground, first and second floors with the following measurements:
No.15 & 17: The property has been merged by the tenant to create one large cafe. It has been refurbished to a high standard and has a Gross Internal Area of Approx, 196 sqm (2,106 sqft)
No.19: The premises is occupied by an Art Gallery and has a Gross Internal Area of approx. 27.5 sqm (273 sf)
Rating - Rateable value:
No.15 & 17: £18,000
No.19 £3,500
Prospective buyers are required to confirm rates payable with the local authority
Energy Performance - All EPC's are valid. copies will be provided.
Planning - We believe the current planning use would fall under Class E.
We would advise all interested parties to make their own enquiries and not solely rely on information we have provided
Vat - We understand VAT is not applicable.
Services - Mains Gas, Electric & Water
Legal Costs - Each party to be responsible for their own costs.
Viewings - Strictly by appointment with sole agent, Readings Property Group, 48 Granby Street, Leicester LE1 1DH (Hassan Gaffar).
Agents Notes - CONSUMER PROTECTION LEGISLATION - These letting details have been written to conform to Consumer Protection Legislation. Whilst we endeavour to make our Details accurate and reliable, if there is any point of particular importance to you, please contact the office and we will check the information for you, particularly if contemplating travelling some distance to view. Measurements are given in good faith and whilst believed to be accurate these should be checked by the prospective buyer/tenant for verification. The measurements are carried out in accordance with the RICS and ISVA code of measuring practice
Brochures
king street, leicester
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Leicester Station0.4 miles
- South Wigston Station3.4 miles
- Syston Station4.8 miles
Notes
These notes are private, only you can see them.
Disclaimer - Property reference 34973079. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Readings Property Group, Leicester. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.