146 London Road Leicester Leicestershire LE2 1ED

146 London Road
Leicester
Leicestershire
LE2 1ED

Freehold Supermarket and Student Accommodation Investment

  • Retail unit let to Sainsbury’s on 15 year lease from May 2014 (subject to option) with fixed rental uplifts
  • Within 5 minutes walk of Leicester University
  • Busy parade within walking distance of City Centre
  • Nearby occupiers include Dominos, Lloyds Bank and Richer Sounds
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    27
  • Auction
    22nd October 2015
  • Rent
    £112,815 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Sector
    Supermarket
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
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* More information on the term "guide" can be found here

Freehold Supermarket and Student Accommodation Investment

  • Retail unit let to Sainsbury’s on 15 year lease from May 2014 (subject to option) with fixed rental uplifts
  • Within 5 minutes walk of Leicester University
  • Busy parade within walking distance of City Centre
  • Nearby occupiers include Dominos, Lloyds Bank and Richer Sounds
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 27
  • Auction 22nd October 2015
  • Rent
  • Status Sold Prior
  • Price  
  • Sector
    Supermarket
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
23 miles south of Nottingham, 45 miles east of Birmingham, 100 miles north of London
Roads
A6, A47, M1 (J21), M69 (J1)
Rail
Leicester (1 hour 7 minutes to London St Pancras International)
Air
East Midlands Airport, Birmingham International Airport
Situation

The accommodation is located within a busy parade on London Road, close to the Evington Road junction and St Albans Road. The property is within walking distance of Leicester Train Station,
Leicester City Centre and both Universities. Nearby occupiers include Dominos, Lloyds Bank and Richer Sounds.

Tenure

Freehold.

Location
Miles
23 miles south of Nottingham, 45 miles east of Birmingham, 100 miles north of London
Roads
A6, A47, M1 (J21), M69 (J1)
Rail
Leicester (1 hour 7 minutes to London St Pancras International)
Air
East Midlands Airport, Birmingham International Airport
Situation

The accommodation is located within a busy parade on London Road, close to the Evington Road junction and St Albans Road. The property is within walking distance of Leicester Train Station,
Leicester City Centre and both Universities. Nearby occupiers include Dominos, Lloyds Bank and Richer Sounds.

Tenure

Freehold.

Description

The property comprises a ground floor supermarket with basement ancillary accommodation, and 11 x en-suite student bedrooms on the upper two floors, with kitchen facilities on both floors. An
application has been submitted for the change of us of a store room to convert to an additional bedroom.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor supermarket with basement ancillary accommodation, and 11 x en-suite student bedrooms on the upper two floors, with kitchen facilities on both floors. An
application has been submitted for the change of us of a store room to convert to an additional bedroom.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reviews/(Reversions)
Ground
Basement
Supermarket/Ancillary
Ancillary
276.97 sq m
92.80 sq m
(2,981 sq ft)
(999 sq ft)
SAINSBURY’S SUPERMARKETS LTD (1) 15 years from 28/04/2014 until 27/04/2029 (2) £60,000 28/04/2019 and
28/04/2024 (3)
First Student
Accommodation
6 en-suite bedrooms & kitchen
INDIVIDUALS 1 year from 01/08/2015 £30,240 (4) (30/06/2016)
Second Student
Accommodation
5 en-suite bedrooms & kitchen
INDIVIDUALS 10 months from 01/09/2015 £22,575 (4) (30/06/2016)
Total Retail Floor Area
369.77 sq m
(3,980 sq ft)
    £112,815

(1) For the year ending 15th March 2014, Sainsbury’s Supermarkets Limited reported a turnover of £23,919,000,000, pre-tax profits of £810,000,000 and a total net worth of £4,706,000,000. (Source: www.riskdisk.com 03/08/2015)
(2) The lease provides an option to determine on 28th April 2024.
(3) The lease provides fixed uplifts to a minimum of 1% and maximum of 3.5% per annum compounded.
(4) The rental income for the student accommodation is £105 p.w. per room and includes all rates and utility bills. The rental figure stated has been annualised and adjusted to incorporate a 50% rental concession in July and August. Please refer to the legal pack for a breakdown of the rents.

Property Documents

  • Catalogue Page
    Updated Date
    30.09.15
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Associate Auctioneers
Heb Apex Business Park, Ruddington Lane
Nottingham
NG11 7DD
Jonathan Emmerson 01159 793 490jonathanemmerson@heb.co.uk
Seller's Solicitors
Freeths LLP Cardinal Square, 2nd Floor, West Point 10 Nottingham Road
Derby
DE1 3QT
Charlotte Bowerman 0845 050 3695charlotte.bowerman@freeths.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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