43 - 47 High Street Leicester Leicestershire LE1 4FP

  • 43 - 47 High Street<br>Leicester<br>Leicestershire<br>LE1 4FP

43 - 47 High Street
Leicester
Leicestershire
LE1 4FP

Freehold Retail Investment

  • Let on a new 10 year lease (subject to option)
  • Prominent and busy pedestrianised location in Major Regional University City
  • Attractive building with triple shop frontage immediately adjacent to the major 120 unit Highcross Shopping Centre
  • Nearby occupiers include House of Fraser, Boots the Chemist and Lloyds Bank
  • Producing £44,000 per annum exclusive Rising to £48,000 in September 2017(2)
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    1
  • Auction
    10th December 2015
  • Rent
    £44,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £670,000
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Joint LPA Receivers
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Freehold Retail Investment

  • Let on a new 10 year lease (subject to option)
  • Prominent and busy pedestrianised location in Major Regional University City
  • Attractive building with triple shop frontage immediately adjacent to the major 120 unit Highcross Shopping Centre
  • Nearby occupiers include House of Fraser, Boots the Chemist and Lloyds Bank
  • Producing £44,000 per annum exclusive Rising to £48,000 in September 2017(2)
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 1
  • Auction 10th December 2015
  • Rent £44,000 per Annum Exclusive
  • Status Sold
  • Price £670,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Joint LPA Receivers

Property Information

Location
Miles
45 miles north-east of Birmingham
30 miles south of Nottingham
20 miles north-east of Coventry
Roads
A6, A47, A563, M1
Rail
Leicester Railway Station
Air
East Midlands Airport
Situation

The property is situated in the heart of Leicester City Centre in a prominent position on the north side of the busy and pedestrianized High Street and immediately adjacent to the major 120 unit Highcross Shopping Centre, whose anchor tenants include John Lewis, Debenhams and House of Fraser, and close to the Haymarket Shopping Centre.

Tenure

Freehold.

Location
Miles
45 miles north-east of Birmingham
30 miles south of Nottingham
20 miles north-east of Coventry
Roads
A6, A47, A563, M1
Rail
Leicester Railway Station
Air
East Midlands Airport
Situation

The property is situated in the heart of Leicester City Centre in a prominent position on the north side of the busy and pedestrianized High Street and immediately adjacent to the major 120 unit Highcross Shopping Centre, whose anchor tenants include John Lewis, Debenhams and House of Fraser, and close to the Haymarket Shopping Centre.

Tenure

Freehold.

Description

The property comprises ground and first floor retail accommodation with ancillary accommodation on the basement, second and third floors. The property benefits from a service yard to the rear accessed from High Street.

Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
The adjacent property (trading as KFC) at No. 33-41 High Street is being offered as lot 13.

Six Week Completion

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

The property comprises ground and first floor retail accommodation with ancillary accommodation on the basement, second and third floors. The property benefits from a service yard to the rear accessed from High Street.

Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
The adjacent property (trading as KFC) at No. 33-41 High Street is being offered as lot 13.

Six Week Completion

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.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
Basement
Ground
First
Second
Third
Ancillary
Retail
Retail
Ancillary
Ancillary
145.40 sq m
168.73 sq m
122.26 sq m
143.47 sq m
121.31 sq m
(1,565 sq ft)
(1,816 sq ft)
(1,316 sq ft)
(1,544 sq ft)
(1,306 sq ft)
SIMPSON
MCLEARNON &
FERGUSON
LIMITED (t/a
Toytown) (1)
10 years from
21/09/2015 (4)
£44,000 (3).
Rising to
£48,000 on
21/09/2017
21/09/2020 (2)
(20/09/2025)
Totals  
701.17 sq m
(7,547 sq ft)
    £44,000 (3)

(1) Toytown was founded in 1980 and is now one of the largest independent toy retailers in the UK and Ireland, operating from 22 stores (Source: www.toytown.uk.com 15/09/2015).
(2)The lease provides for a fixed increase in rent to £48,000 p.a.x. on 21/09/2017.
(3)The lease provides for a 6 month rent free period until 1st march 2016. On completion of the sale the seller will pay the buyer the rent that would have been due from completion of the sale to 1st March 2016. Therefore the property will produce £44,000 per annum exclusive from completion of the sale.
(4)The lease provides for a tenant option to determine at the end of 5th year of the term on giving 6 months written notice.

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Walker Morris LLP Kings Court, 12 King Street
Leeds
LS1 2HL
Austin Judson 0113 283 2500austin.judson@walkermorris.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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