For Sale OFFERS IN EXCESS OF £600,000 - Apartment, Commercial, Residential, Shop
FREEHOLD PROPERTY – NO UPWARD CHAIN – DEVELOPMENT POTENTIAL (STPP) – IDEAL INVESTMENT -WALKING DISTANCE TO LEICESTER UNIVARSITY, LEICESTER TRAIN STATION AND TOWN CENTRE – ALL THE COMMODITIES ARE AVAILABLE AT A WALKING DISTANCE – FURTER POTENTIAL FOR RENT INCREASE AND EXTENSION – EPC (TO BE CONFIRMED)
ORYX PROPERTIES are pleased to offer this wonderful property that possesses excellent opportunity for further development of Commercial as well as Residential dwellings in the back garden. The Local Architect advised the seller to extend the property further in the back garden, ground floor Commercial Building to add up to the existing two shops and on the first and second floors, residential flats to add up to the existing building. Property is located in the heart of Highfields and from one side it is only few hundred metres away from London Road and Victoria Park and the Leicester University and on the other side it is only few hundred metres away from East Park Road. The property is FREEHOLD and is NOT IN CHAIN.
This area has strong transport links to and from Evington Road to all the surrounding areas as well as Leicester Town Centre, Leicester Train Station, Leicester University as well as De Montfort University.
This area is Highly Sought After and Letting Wise is in High Demand and these Flats on top of these shop will never be out of Tenants who are willing to pay High Rent because of the High Demand Area where all the commodities of life and Cooked Food is available at a walking distance.
Local Mosques are nearby, Good and Well Reputed Schools are nearby. The property itself has a Big Cellar which is in no use and lying empty at the moment but that can be used for a variety of purposes and it is up to your choice how best you can make use of this excellent potential.
The property itself has Two shops on the front. A separate Lease was granted to Fruit, Veg and Fish Shop , for a period of 3 Years recently at the price of £1300 Per Calendar Month – known as 67A Evington Road, Leicester and on the First Floor there’s a Flat let and managed by the Lease Holder of 67A Evington Road, Leicester.
The other shop ‘BLUE POINT’ is a Takeaway and they were granted Lease at the monthly rent of £1650 Per Calendar Month for a period of 5 Years and they are Letting and managing rest of the Three Flats. Flat 2 is lying empty and is in immediate of Cosmetic Refurbishment and is producing No Rent, Flat 3 is producing monthly rent of £450 PCM and Flat 4 is a Bedsit and is producing rent of £400 PCM. Achieved Rent from both the properties accumulates to £2950 PCM now but after refurbishing the Flat 2, would increase the rent further £600 bringing it up to a total of £3550. All the tenants are residing there for a number of years and have strong ties with the existing landlord that’s why the Current Landlords are reluctant to increase the rent up to full market rent. Without any exaggeration from £4200 to £4500 monthly rent can easily be achieved.
Here are the sizes of the Shops, Cellar, Flats and the Garden where the existing building can be extended:
Cellar under 67A and 67 Evington Road respectively: 17’06 x 14’02 – 20’02 x 17’06
Garden width x Length: 36’00 x 36’00
Shop Fruit, Veg and Fish at 67A Evington Road: 39’06 x 17’10 – Meat Cutting Area: 11’10 x 08’08
First Floor: 2 Bed Flat above Fruit, Veg and Fish: Bedroom 1: 15’06 x 14’06 – Bedroom 2: 11’08 x 08’10 + Sitting Room: 13’00 x 13’00 + Bathroom – being managed by Fruit Veg and Fish Shop
Shop Blue Point: 36’09 x 15’08 x 13’09 – Pizza Machine and Processing Area: 14’10 x 13’08 + Back Store: 14’00 x 09’06 + Wash Hand Basin area + separate WC + Wash hand Basin
First Floor: 2 Bed Flat lying Empty and in need of Refurbishment producing No Rent: Front Room: 22’06 x 14’00 – 2nd Room: 22’06 x 14’00 + Bathroom – being managed by Blue Point
2nd Floor: 1 Bed Flat above Fruit, Veg and Fish: Sitting Area + Bedroom: 15’02 x 12’06 – Bathroom: 10’06 x 06’04 – Kitchen: 10’06 x 07’00 – being managed by the Blue Point
2nd Floor: Studio Flat: 18’06 x 15’06 = Bathroom: 11’08 x 06’00
Please call our ORYX PROPERTIES for a No Obligation ‘No Sale No Fee’ Market Appraisal today