26 Belvoir Street Leicester Leicestershire LE1 6QH
26 Belvoir Street Leicester Leicestershire LE1 6QH
Freehold Restaurant and Residential Ground Rent Investment
Ground floor and basement let to restaurant trading as Time To Delhi
New 10 year lease from July 2023 (subject to option)
Approximately 4,535 sq ft
Prominent City Centre corner location, close to Leicester Rail Station and De Montfort University
Nearby occupiers include Marks & Spencer, Tesco Express, San Carlo, Nando's, Bistrot Pierre, Caffè Nero, Pret A Manger, Revolution Bar, Walkabout, Boots the Chemist, Superdrug and several restaurants and bars, as well as The Curve Theatre
Freehold Restaurant and Residential Ground Rent Investment
Ground floor and basement let to restaurant trading as Time To Delhi
New 10 year lease from July 2023 (subject to option)
Approximately 4,535 sq ft
Prominent City Centre corner location, close to Leicester Rail Station and De Montfort University
Nearby occupiers include Marks & Spencer, Tesco Express, San Carlo, Nando's, Bistrot Pierre, Caffè Nero, Pret A Manger, Revolution Bar, Walkabout, Boots the Chemist, Superdrug and several restaurants and bars, as well as The Curve Theatre
Lot 24
Auction 9th July 2024
Rent £40,000 per Annum Exclusive
Status Sold
Price £320,000
Sector Restaurant
Auction Venue Live Streamed Auction
On Behalf of Receivers
Property Information
Location
Miles
21 miles south of Nottingham, 31 miles north-east of-Birmingham
Roads
A6, A47, A563, M1 (Junction 21)
Rail
Leicester Railway Station
Air
East Midlands Airport
Situation
The property is prominently situated in a corner position on the south side of Belvoir Street, at its junction with Stamford Street, in the heart of the City Centre. The property benefits from being approximately 500 metres from Leicester Railway Station and close to De Montfort University. Nearby occupiers include Marks & Spencer, Tesco Express, San Carlo, Nando's, Bistrot Pierre, Caffè Nero, Pret A Manger, Revolution Bar, Walkabout, Boots the Chemist, Superdrug and several restaurants and bars, as well as The Curve Theatre.
Tenure
Freehold.
Location
Miles
21 miles south of Nottingham, 31 miles north-east of-Birmingham
Roads
A6, A47, A563, M1 (Junction 21)
Rail
Leicester Railway Station
Air
East Midlands Airport
Situation
The property is prominently situated in a corner position on the south side of Belvoir Street, at its junction with Stamford Street, in the heart of the City Centre. The property benefits from being approximately 500 metres from Leicester Railway Station and close to De Montfort University. Nearby occupiers include Marks & Spencer, Tesco Express, San Carlo, Nando's, Bistrot Pierre, Caffè Nero, Pret A Manger, Revolution Bar, Walkabout, Boots the Chemist, Superdrug and several restaurants and bars, as well as The Curve Theatre.
Tenure
Freehold.
Description
The property comprises a substantial restaurant arranged on the ground floor and basement. The property also comprises residential accommodation arranged on part ground, part basement, first & second floors, let on a long lease.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Receivers and therefore no warranties, representations or guarantees are given or will be given by the Receivers or the Auctioneers in respect of the information in these particulars or any matter relating to the property, including VAT. Any information provided is provided without liability on the part of the Receivers and Auctioneers for any reliance placed on it. The Receivers are acting without personal liability and are not bound to accept the highest or any offer.
Completion Period
Six Week Completion
EPC
Band B
Description
The property comprises a substantial restaurant arranged on the ground floor and basement. The property also comprises residential accommodation arranged on part ground, part basement, first & second floors, let on a long lease.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Receivers and therefore no warranties, representations or guarantees are given or will be given by the Receivers or the Auctioneers in respect of the information in these particulars or any matter relating to the property, including VAT. Any information provided is provided without liability on the part of the Receivers and Auctioneers for any reliance placed on it. The Receivers are acting without personal liability and are not bound to accept the highest or any offer.
Completion Period
Six Week Completion
EPC
Band B
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas (Approx sq ft) (1)
Tenant
Term
Rent p.a.x.
Rent Review
Ground Basement
Restaurant Ancillary
287.40 133.90
(3,094) (1,441)
MY DELHI STREETERY LIMITED (t/a Time To Delhi) (2)
10 years from 24/07/2023 (3)
£40,000
24/07/2028
Part Basement Part Ground First Second
Residential
-
-
BELVOIR STUDIOS LLP
999 years from 25/12/2000
Peppercorn
-
Total Commercial Area
421.30
(4,535)
£40,000
(1) Areas provided by VOA (www.gov.uk/find-business-rates) (2) Time To Delhi are a vibrant and eclectic Indian street food restaurant that also trade from two other stores in Newcastle and Sunderland. They won the award for 'Best Street Food Restaurant' of the year at the National Curry Awards 2023 (www.mydelhistreetfood.com). (3) The lease is subject to a tenant option to determine on 24/07/2028. A rent deposit of £20,000 is held by the vendor.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
