This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Leycroft Rd
3,161 SF Industrial Unit Offered at £335,000 in Leicester LE4 1ET
Investment Highlights
- Modern mid-terrace industrial premises
- Purchase price subject to the occupation lease - £335,000 to show an initial yield of 5.27% and an estimated reversionary yield of 6.48%, after costs
- Let to a strong tenant covenant
Executive Summary
The subject property comprises a circa 1980s built, single-storey, mid- terrace, industrial unit with two-storey integral offices, of steel frame construction with brick elevations, surmounted with steel cladding. The roof structure is pitched and similarly clad, incorporating translucent roof lights. The elevations incorporate uPVC double glazed windows. Internally, the ground floor accommodation has been configured to provide a trade counter area, WC facilities, a partitioned office, together with the main warehouse. The main warehouse area generally provides clear and unencumbered production accommodation with a solid concrete floor throughout, brick elevations to a height of 2.50m and is lit via suspended LED lights. The eaves height to the underside of the haunch is circa 5.6m. Loading is facilitated by means of a roller shutter door in the front elevation. Heating to this element is provided by way of a warm air gas fired blower. An internal staircase at the front of the property provides access to the first floor where there is an office incorporating a kitchenette. The specification to the office space includes; suspended ceilings with inset CAT II lighting, painted plastered walls and carpet floor coverings. Heating is provided by wall mounted electric heaters. Externally, the property benefits from forecourt car parking for 4 cars
Property Facts
| Price | £335,000 | Building Class | B |
| Unit Size | 3,161 SF | Number of Floors | 1 |
| No. Units | 1 | Typical Floor Size | 19,575 SF |
| Total Building Size | 19,575 SF | Year Built | 1970 |
| Property Type | Industrial (Unit) | Lot Size | 8.23 AC |
| Property Subtype | Service | Parking Ratio | 1.92/1,000 SF |
| Sale Type | Investment |
| Price | £335,000 |
| Unit Size | 3,161 SF |
| No. Units | 1 |
| Total Building Size | 19,575 SF |
| Property Type | Industrial (Unit) |
| Property Subtype | Service |
| Sale Type | Investment |
| Building Class | B |
| Number of Floors | 1 |
| Typical Floor Size | 19,575 SF |
| Year Built | 1970 |
| Lot Size | 8.23 AC |
| Parking Ratio | 1.92/1,000 SF |
1 Unit Available
Unit 4
| Unit Size | 3,161 SF | Sale Type | Investment |
| Price | £335,000 | Tenure | Long Leasehold |
| Price Per SF | £105.98 | Net Initial Yield | 5.27% |
| Unit Use | Industrial | NOI | £17,654.50 |
| Unit Size | 3,161 SF |
| Price | £335,000 |
| Price Per SF | £105.98 |
| Unit Use | Industrial |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Net Initial Yield | 5.27% |
| NOI | £17,654.50 |
Description
The property is let by way of an occupational lease commencing 26th March 2021 to HGV Direct Limited for a term of 5 years. The tenant has a fully repairing liability, qualified by a Schedule of Condition. The current passing rental is £18,300 per annum. There is an outstanding rent review dated 26th March 2024. The lease is protected by virtue of the security of tenure provisions of sections 24- 28 of Landlord & Tenant Act 1954.
Sale Notes
This property is held by way of a long leasehold tenure granted for a term of 125 years from 27th October 1988, subject to a peppercorn ground rent demanded. As of the date of these marketing particulars, there is therefore approximately 89 years and 5 months unexpired on the lease. Tenancy
Amenities
- Security System
- Roller Shutters
- Storage Space
Utilities
- Lighting - Fluorescent
- Gas
Presented by
Leycroft Rd
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.