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Retail Investments, Ground Rents for Sale
Rutland Street, Leicester, LE1
4,116 sf
Retail Investments, Ground Rents for Sale
Rutland Street, Leicester, LE1
The ground floor offers open-plan retail accommodation of rectangular proportion currently fitted as a convenience store, with rear stores and goods lift providing access to further ancillary and staff facilities within the basement.
Loading access is provided by way of a shared yard to the rear of the building, accessed via a gated entrance on Rutland Street.
The upper floors comprise of 15 residential flats, the long-leaseholds of which have been sold off individually. Each flat generates a ground rent of £250 Per Annum (totalling £3,750 Per Annum).
The ground floor and basement are let to Tesco Stores Limited to March 2039 with Tenant-only break clause as at March 2034, providing an unexpired term of 9 years and total remaining term of 14 years.
The premises are let on internal repairing terms at a passing rent of £80,000 Per Annum exc. with upwards-only Rent Reviews as of March 2029 and March 2034.
The 15 flats to the upper floors are subject to a ground rent charge of £250 per annum each, equating to £3,750 Per Annum.
The total income therefore equates to £83,750 Per Annum exc.
Location
The property occupies a prominent corner position fronting Granby Street and Rutland Street at their junction with Belvoir Street in Leicester City Centre.Granby Street is one of Leicester's primary retailing locations and benefits from significant footfall due to it's close proximity and centralised position to both Leicester Railway Station and Highcross Shopping Centre.
Nearby occupiers include a mixture of retail and food & beverage operators including Nandos, Subway, Natwest Bank, Sainsbury's, Caffe Nero, and Flannels.
Related links
Investment property for SaleInvestment property for Sale in LeicesterAndrew + Ashwell
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