10-12 & 3 Granby Place Granby Street Leicester LE1 1DE

10-12 & 3 Granby Place
Granby Street
Leicester
LE1 1DE

Freehold Retail Investment

Let to Coral Racing Limited until 2023 (subject to option)
Prominent City Centre Location
Important University City
Neighbouring occupiers include Natwest, BHS, Boots the Chemist, Marks & Spencer, W H Smith and Caffé Nero
Six Week Completion

Lot
19
Auction
17th October 2013
Rent
£30,000 per Annum Exclusive
Status
Sold
Price
£296,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
Mayfair
London W1K 2HP

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Freehold Retail Investment

Let to Coral Racing Limited until 2023 (subject to option)
Prominent City Centre Location
Important University City
Neighbouring occupiers include Natwest, BHS, Boots the Chemist, Marks & Spencer, W H Smith and Caffé Nero
Six Week Completion

Lot 19
Auction 17th October 2013
Rent £30,000 per Annum Exclusive
Status Sold
Price £296,000
Sector
Leisure
Auction Venue
The Millennium Hotel
44 Grosvenor Square
Mayfair
London W1K 2HP

Property Information

Location

Miles: 20 miles north-east of Coventry; 23 miles south of Nottingham; 35 miles north-east of Birmingham
Roads: M1, M69, A6, A50, A47
Rail: Leicester Railway Station (1 hour 8 mins to London St Pancras International)
Air: Nottingham East Midlands Airport

Situation

The property is situated in the heart of Leicester City Centre on the east side of the busy Granby Street close to its junction with the important pedestrianised Gallowtree Gate. Neighbouring occupiers include Natwest, BHS, Boots the Chemist, Marks & Spencer, W H Smith and Caffé Nero.

Tenure

Freehold. Majority Freehold. A small part of the rear of the property known as 3 Granby Place is held on a long lease from Leicester City Council for a term of 50 years from 26th July 2013 at a current rent reserved of £2,000 per annum, subject to 5 yearly rent reviews.

Location

Miles: 20 miles north-east of Coventry; 23 miles south of Nottingham; 35 miles north-east of Birmingham
Roads: M1, M69, A6, A50, A47
Rail: Leicester Railway Station (1 hour 8 mins to London St Pancras International)
Air: Nottingham East Midlands Airport

Situation

Tenure

Description

The property comprises ground floor retail accommodation with ancillary accommodation on the first floor and in the basement.

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 floor retail accommodation with ancillary accommodation on the first floor and in the basement.

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
Basement Ground First	Ancillary Retail Ancillary	85.20 sq m 157.50 sq m 78.10 sq m	(917 sq ft) (1,695 sq ft) (841 sq ft)	CORAL RACING LIMITED (1)	10 years from 26/07/2013 until 2023 on a full repairing and insuring lease (2) (4)	£30,000 (3)	26/07/2018
Totals		320.80 sq m	(3,453 sq ft)			£30,000 (3)

(1) For the year ending 29/09/2012, Coral Racing Limited reported a turnover of £603,447,000, pre-tax profits of £101,348,000 and a total net worth of £61,039,000. (Source: www.riskdisk.com 16/09/2013).
(2) The lease provides for a tenant option to determine the lease on the 26/07/2018.
(3) The rent stated above is the gross rent. The Net Rent is £28,000 per annum exclusive after deduction of £2,000 per annum head rent.
(4) The lease is subject to a schedule of condition.