Leicester is the second largest city in the East Midlands, located approximately 43 miles north east of Birmingham, 31 miles south of Nottingham and 100 miles north west of London.
Leicester benefits from excellent communications being adjacent to the M1 motorway (Junctions 21 & 22), which in turn provides access to the M69, M6 and M42 motorways. The A6 runs though the city centre providing access to Loughborough immediately to the north and Market Harborough to the south. Leicester's ring road, the A563, connects to towns and cities to the east, such as Peterborough, Grantham, Melton Mowbray and Uppingham via the A607 and A47.
The City's mainline railway station provides regular high speed train services to London St Pancras with a journey time of approximately 1 hour 10 minutes. There are also frequent rail services to Birmingham, Sheffield and Nottingham and the catchment population is supported by an extensive bus network and a park and ride service into Leicester city centre.
East Midlands Airport lies approximately 20 miles to the north west of the City and provides frequent domestic and international flights.
The retail parade consists of 5 retail units comprising sales accommodation at ground floor with ancillary storage on first and second floors (the only exception is WH Smith which uses first floor and basement for sales and Post Office).
The property is in part of late 19th century construction, with the rear of Unit 37 partially Grade II listed.
The upper floors of the entire property have shared access and there is a notable amount of upper floor space that is unused and which could, subject to planning and negotiation, be used for alternative purposes.
The asset comprises a multi-let retail block of five units which are leased to four tenants and one vacant unit as set out in the link below.
Information on the estimated rental value and covenant can be found in the link below.
The property has been elected for VAT and therefore it is intended that the sale will be treated as a Transfer of a Going Concern (TOGC).
Offers sought in excess of £4,850,000 (Four Million, Eight Hundred and Fifty Thousand Pounds) for the Freehold interest in the property subject to contract and exclusive of VAT. A purchase at this level will reflect the following yield profile, after purchaser's costs of 6.58%: