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Commercial Property for sale - Churchgate, Leicester, LE1 4AJ

Guide price £160,000

For Sale

Property information

Status:
Available
Type:
Sale
Address:
Leicester, LE1 4AJ
Categories:
Commercial Properties
Features:
11/12/2019, A freehold city centre retail investment property together with ground rent received for the long leasehold upper floors Current Rental Income: £15,200 pa, Freehold Subject to a Lease for a term of 5 years with effect from 1st October 2019 expiring on the 30th September 2024, at a current rent of £15,000 per annum. There is a break option at...
Listed on:
29-11-2019

Commercial

S.O.A.


Description

For Sale By Public Auction on 11 December 2019 at Holte Suite, Aston Villa FC, Trinity Rd, Birmingham B6 6HE

A freehold city centre retail investment property together with ground rent received for the long leasehold upper floors
Current Rental Income: £15,200 pa

The property comprises a spacious and prominent ground floor retail unit with ancillary stores and staff facilities and basement.
The upper floors have previously been sold off on a long leasehold basis.

Tenure
Freehold Subject to a Lease for a term of 5 years with effect from 1st October 2019 expiring on the 30th September 2024, at a current rent of £15,000 per annum. There is a break option at year 3.
The upper floors have previously been sold off Long Leasehold for a term of 125 years with effect from June 2015.
The initial rent of £200 per annum for the first 25 years of the term then £400 per annum for the next 25 years of the term and then £800 per annum for the next 25 years of the term and then £1,600 per annum for the remainder of the term.
A copy of the Lease documentation will be available for inspection within the Legal Pack.

Location
The property is situated fronting Churchgate between the clock tower and St Peters Lane. Churchgate has a varied mix of independent retail uses and is within very close proximity to Highcross Shopping Centre and East Gates where many of the national retailers are represented.
There is a high footfall as Churchgate serves as a main link into the city centre.

Viewing Times
Strictly by appointment with the Auctioneers.



Disclaimer

Property reference: RP98915121_95098

The information exhibited about this property relates to a property listing advertisement. Commercial People Ltd makes no assurances as to the accurateness or completeness of the said advertisement or any connected or associated information. Commercial People Ltd has no control over the content of the advertisement. This property advertisement does not constitute property particulars. All information is provided and maintained by Bond Wolfe Auctions. In the event of any discrepancies, we ask that you please contact the selling agent or developer directly.

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Bond Wolfe Auctions
Birmingham,
B3 2AP,
GB

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Property reference: RP98915121_95098

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