Commercial property for redevelopment

An excellent investment vehicle in need of general renovation and alteration which has potential to provide excellent rental income being a former hot food takeaway with A5 usage together with first floor accommodation that subject to consent could form 2/3 bedsits/ flats. The adjoining ground floor retail unit is subject to a 99 year lease from 1990 on a peppercorn rent.

Tenure

Freehold sjubject to tenancy

Details

The takeaway has a shop frontage of approximately 16ft with average depth of 22ft together with associated kitchen. All fixtures and fittings are to remain however no warranty is given that they are fit for purpose. There are stairs which rise to the first floor, above both the takeaway and the adjoining shop.There is an enclosed yard area with useful stores and parking to the rear via shared vehicular access.

Hot Food Takeaway

Front reception area and counter with an approx. frontage of 17ft with a depth at the narrowest of 22ft and max 27ft.

Food Preparation Kitchen Area

Max width of 17ft, min12ft with an average depth 15ft with doors leading to outside stores and access to staircase to first floor.

Outside

With useful brick store, enclosed yard area with timber fencing, hard landscaped, potential for two car standing spaces to the rear subject to shared vehicular access.

Retail Unit T/A Wicklow Convenient Stores

Held on a 99 year lease first granted in 1995 with a peppercorn rent believed to be £75 per annum.

First Floor Accommodation

Landing, Lounge 30’ x 12’, Kitchen 28’ max 17’6” min x 10’, Bathroom, Bedroom One 14’6” x 11’0”, Bedroom Two 11’0” x 7’6”, Bedroom Three 12’0” x 7’6” , Shower Room

Directions

The property is best approached by leaving Leicester City centre along the Humberstone Road continuing on for some distance and at the Trocadero Garage bear right onto Uppingham Road. On approaching the junction with Ambassador Road and Wicklow Drive, the property can be identified on the other side of the road by the agent's auction for sale board.

Viewing

By appointment with the Auctioneers. Tel: 0116 222 7575

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Leicester City Council

Solicitors

Loynton & Co, Suite 13, Wing Yip Business Centre, Thimble Mill Lane, Birmingham B7 5HD, Ref: Jenny Loynton, Tel: 0121 3270118

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £1200.00 (£1000.00 plus VAT)

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.