146 London Road Leicester Leicestershire LE2 1ED

146 London Road
Leicester
Leicestershire
LE2 1ED

Freehold Supermarket and Student Accommodation Investment

Retail unit let to Sainsbury’s on 15 year lease from May 2014 (subject to option) with fixed rental uplifts
Within 5 minutes walk of Leicester University
Busy parade within walking distance of City Centre
Nearby occupiers include Dominos, Lloyds Bank and Richer Sounds
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
27
Auction
22nd October 2015
Rent
£112,815 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Supermarket and Student Accommodation Investment

Retail unit let to Sainsbury’s on 15 year lease from May 2014 (subject to option) with fixed rental uplifts
Within 5 minutes walk of Leicester University
Busy parade within walking distance of City Centre
Nearby occupiers include Dominos, Lloyds Bank and Richer Sounds
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 27
Auction 22nd October 2015
Rent £112,815 per Annum Exclusive
Status Sold Prior
Price
Sector
Supermarket/Convenience
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 23 miles south of Nottingham, 45 miles east of Birmingham, 100 miles north of London
Roads: A6, A47, M1 (J21), M69 (J1)
Rail: Leicester (1 hour 7 minutes to London St Pancras International)
Air: East Midlands Airport, Birmingham International Airport

Situation

The accommodation is located within a busy parade on London Road, close to the Evington Road junction and St Albans Road. The property is within walking distance of Leicester Train Station,
Leicester City Centre and both Universities. Nearby occupiers include Dominos, Lloyds Bank and Richer Sounds.

Tenure

Freehold.

Location

Miles: 23 miles south of Nottingham, 45 miles east of Birmingham, 100 miles north of London
Roads: A6, A47, M1 (J21), M69 (J1)
Rail: Leicester (1 hour 7 minutes to London St Pancras International)
Air: East Midlands Airport, Birmingham International Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor supermarket with basement ancillary accommodation, and 11 x en-suite student bedrooms on the upper two floors, with kitchen facilities on both floors. An
application has been submitted for the change of us of a store room to convert to an additional bedroom.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews/(Reversions)
Ground Basement	Supermarket/Ancillary Ancillary	276.97 sq m 92.80 sq m	(2,981 sq ft) (999 sq ft)	SAINSBURY’S SUPERMARKETS LTD (1)	15 years from 28/04/2014 until 27/04/2029 (2)	£60,000	28/04/2019 and 28/04/2024 (3)
First	Student Accommodation	6 en-suite bedrooms & kitchen		INDIVIDUALS	1 year from 01/08/2015	£30,240 (4)	(30/06/2016)
Second	Student Accommodation	5 en-suite bedrooms & kitchen		INDIVIDUALS	10 months from 01/09/2015	£22,575 (4)	(30/06/2016)
Total Retail Floor Area		369.77 sq m	(3,980 sq ft)			£112,815

(1) For the year ending 15th March 2014, Sainsbury’s Supermarkets Limited reported a turnover of £23,919,000,000, pre-tax profits of £810,000,000 and a total net worth of £4,706,000,000. (Source: www.riskdisk.com 03/08/2015)
(2) The lease provides an option to determine on 28th April 2024.
(3) The lease provides fixed uplifts to a minimum of 1% and maximum of 3.5% per annum compounded.
(4) The rental income for the student accommodation is £105 p.w. per room and includes all rates and utility bills. The rental figure stated has been annualised and adjusted to incorporate a 50% rental concession in July and August. Please refer to the legal pack for a breakdown of the rents.