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Sandhills Ave 5,270 sq ft Office Unit Offered at £750,000 in Leicester LE5 1QN
INVESTMENT HIGHLIGHTS
- Virtual freehold day nursery investment
- 7.36% net initial yield assuming 4.82% purchaser costs
- Gross rental income of £57,857.14 per annum
EXECUTIVE SUMMARY
The property comprises a two-story premises which forms part of a substantial neighbourhood parade which has been arranged over four storeys and comprises six retail units and fifty-one apartments. The building is of steel frame construction with brick elevations beneath a pitched roof. The floor is constructed in solid concrete throughout.
PROPERTY FACTS
| Total Property Size | 71,499 sq ft | Floors | 2 |
| Property Type | Build-to-Rent (Unit) | Typical Floor Size | 3,534 sq ft |
| Property Subtype | Apartment | Year Built | 2008 |
| Costar Property Class | B |
| Total Property Size | 71,499 sq ft |
| Property Type | Build-to-Rent (Unit) |
| Property Subtype | Apartment |
| Costar Property Class | B |
| Floors | 2 |
| Typical Floor Size | 3,534 sq ft |
| Year Built | 2008 |
AMENITIES
- EPC - E
SITE AMENITIES
- Storage Space
1 UNIT AVAILABLE
Unit 208
| Unit Size | 5,270 sq ft | Sale Type | Investment |
| Price | £750,000 | Tenure | Freehold |
| Price Per sq ft | £142.31 | Net Initial Yield | 7.36% |
| Unit Use | Office | NOI | £55,200 |
| Unit Size | 5,270 sq ft |
| Price | £750,000 |
| Price Per sq ft | £142.31 |
| Unit Use | Office |
| Sale Type | Investment |
| Tenure | Freehold |
| Net Initial Yield | 7.36% |
| NOI | £55,200 |
DESCRIPTION
The premises has been laid out to provide a day nursery over two floors together with welfare facilities and ancillary storage. The premises has the benefit of an HVAC system providing heating and cooling, carpet floor covering and gas central heating. Externally, the premises has the benefit of car parking and an enclosed garden.
SALE NOTES
Long Leasehold for a term of 999 years (virtual freehold) with a term of 983 years unexpired. The property is let to Shining Stars Day Nursery Limited (11243477) on an effective fully repairing and insuring lease for a term of 15 years (unbroken) from 23rd July 2019. The passing rental is £57,857.14 per annum exclusive, though subject to an RPI index linked rent review capped at 4% on 23rd July 2029.
We are seeking offers in excess of £750,000 (Seven Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT.
A purchase at this level reflects a gross yield of 7.71% and a net
initial yield of 7.36% after the purchaser’s costs.
Interior photo
Interior photo
Interior photo
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Sandhills Ave
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