Old Constitutional Club 8/14 Station Road Hinckley Leicestershire LE10 1AW

  • Old Constitutional Club 8/14 Station Road<br>Hinckley<br>Leicestershire<br>LE10 1AW

Old Constitutional Club 8/14 Station Road
Hinckley
Leicestershire
LE10 1AW

Substantial Freehold Retail Parade Investment with Consent for Residential Conversion

  • Seven ground floor retail units with two self-contained office suites on first floor
  • Permitted Development prior approval granted for conversion of unit 8A to five residential flats
  • Close proximity to the pedestrianised prime retail pitch and The Crescent Shopping Centre
  • Nearby occupiers include HSBC, Thomas Cook, Boots Opticians and Clarks
  • Lot
    44
  • Auction
    24th May 2018
  • Rent
    £93,200 per Annum Exclusive
  • Status
    Sold
  • Price
    £900,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of a Major Fund Manager
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Substantial Freehold Retail Parade Investment with Consent for Residential Conversion

  • Seven ground floor retail units with two self-contained office suites on first floor
  • Permitted Development prior approval granted for conversion of unit 8A to five residential flats
  • Close proximity to the pedestrianised prime retail pitch and The Crescent Shopping Centre
  • Nearby occupiers include HSBC, Thomas Cook, Boots Opticians and Clarks
  • Lot 44
  • Auction 24th May 2018
  • Rent £93,200 per Annum Exclusive
  • Status Sold
  • Price £900,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of a Major Fund Manager

Property Information

Location
Miles
13 miles south-west of Leicester
4 miles north-east of Nuneaton
Roads
A47, M69, A50
Rail
Hinckley Rail
Air
Birmingham International Airport
Situation

The property is located on the busy thoroughfare of Station Road, occupying a prominent position between the traditional prime retailing pitch and the new Crescent Shopping Centre and Hinckley Station. Market Place, located just to the north, is home to Hinckley’s historic market occurring three times a week. The Crescent Shopping Centre to the south is home to occupiers including Cineworld, Sainsbury’s Superstore, Wildwood and TK Maxx. Other nearby occupiers include HSBC, Thomas Cook, Boots Opticians and Clarks.

Tenure

Freehold.

Location
Miles
13 miles south-west of Leicester
4 miles north-east of Nuneaton
Roads
A47, M69, A50
Rail
Hinckley Rail
Air
Birmingham International Airport
Situation

The property is located on the busy thoroughfare of Station Road, occupying a prominent position between the traditional prime retailing pitch and the new Crescent Shopping Centre and Hinckley Station. Market Place, located just to the north, is home to Hinckley’s historic market occurring three times a week. The Crescent Shopping Centre to the south is home to occupiers including Cineworld, Sainsbury’s Superstore, Wildwood and TK Maxx. Other nearby occupiers include HSBC, Thomas Cook, Boots Opticians and Clarks.

Tenure

Freehold.

Description

The property is a substantial corner property comprising seven ground floor retail units and two self-contained office suites on first floor accessed via dedicated entrances on Station Road.

VAT

VAT is applicable to this lot.

Planning

8A Station Road, Hinckley- 17/00651/COGDO - Prior notification for change of use of first floor from offices (B1a) to five apartments (C3) - Granted with Conditions on 24th August 2017. For further information please visit hinckley-bosworth.gov.uk.

Completion Period

Six week completion

EPC

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

Description

The property is a substantial corner property comprising seven ground floor retail units and two self-contained office suites on first floor accessed via dedicated entrances on Station Road.

VAT

VAT is applicable to this lot.

Planning

8A Station Road, Hinckley- 17/00651/COGDO - Prior notification for change of use of first floor from offices (B1a) to five apartments (C3) - Granted with Conditions on 24th August 2017. For further information please visit hinckley-bosworth.gov.uk.

Completion Period

Six week completion

EPC

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

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/
(Reversion)
1 Horsefair Ground Retail
52.58 sq m
(566 sq ft)
 HOLIDAY LOUNGE
LIMITED (1)		 4 years from
04/12/2015		 £8,000 (03/06/2019)
3 Horsefair Ground Retail
88.53 sq m
(953 sq ft)
 INDIVIDUAL
t/a Tai Chi Qigong &
Holistic Health		 5 years from
15/01/2018		 £5,500 (14/01/2023)
5 Horsefair Ground Office
109.43 sq m
(1,178 sq ft)
 VACANT
POSSESSION		      
8 Station
Road		 Ground Retail
59.08 sq m
(636 sq ft)
 HOLIDAY LOUNGE
LIMITED (1)		 15 years from
04/06/2004		 £18,000 (03/06/2019)
8a Station
Road		 First Office
251.40 sq m
(2,706 sq ft)
 VACANT
POSSESSION - see
planning section		      
8b Station
Road		 Ground Estate
Agency
83.89 sq m
(903 sq ft)
 REGAL ESTATE
AGENTS LIMITED
t/a RHD Direct		 15 years from
01/12/2006		 £16,200 01/12/2012 and
five yearly
(30/11/2021)
10 Station
Road		 Ground Retail
97.26 sq m
(1,047 sq ft)
 THE BRITISH RED
CROSS SOCIETY
(2)		 9 years from
16/09/2009 (3)		 £17,000 (15/09/2018)
12 Station
Road		 Ground Office
74.22 sq m
(799 sq ft)
 INDIVIDUAL
t/a American Nails		 15 years from
13/10/2017		 £12,000 12/10/2022 and
five yearly
(12/10/2032)
14 Station
Road		 Ground Retail
74.22 sq m
(799 sq ft)
 INDIVIDUAL
t/a Lifestyle Express		 20 years from
22/08/2012		 £16,500 22/08/2017 and
five yearly
(21/08/2032)
Total  
890.61 sq m
(9,587 sq ft)
     £93,200  

(1) Holiday Lounge is a privately owned independent travel agent and a member of the Co-op Consortium which is part of The Midcounties Co-operative Ltd (Source: www.holidaylounge.co.uk 24/04/2018).
(2) The British Red Cross is a registered charity and has around 340 shops across the country (Source: www.redcross.org.uk 24/04/2018).
(3) The landlord is currently in discussions with The British Red Cross Society with regards to a lease renewal.

Contacts

Seller's Solicitors
Hamlins LLP Roxburghe House273-287 Regents Street
London
W1B 2AD
Joseph Holder 0207 355 6112joseph.holder@hamlins.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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