DEVELOPMENT PROPERTY IN A PRIME TRADING LOCATION
Price:
Freehold - £475,000
Location:
Leicestershire , Hinckley
Business Type:
Commercial Property
DEVELOPMENT PROPERTY IN A PRIME TRADING LOCATION - LEICESTERSHIRE
Located in the Market Square in the busy and thriving town of Hinckley
The property has 2 tenants providing a gross income of £17,750 PA
Self contained top floor flat with 3 bedrooms
Early viewing recommended to appreciate
Scope for numerous usage
FREEHOLD
Business History
Meridian Business Sales are delighted to offer for sale this development property in the centre of the busy and thriving town of Hinckley in Leicestershire.
The property has been in the careful hands of our client since 2002 and in this time has kept the trading areas in good repair and is only now being put to market due to their strong desire to retire. The property currently has two tenants using the premises 1 for a newsagents on the ground floor and the second utilises it as a hairdressing salon on the first floor.
The owners also use part of the ground floor as an outlet for his knitwear business, which has potential rental income of £20,000pa and on the 2nd floor there is an empty 2 bed flat which again has potential income of £4,500-5,000pa. The two tenants provide the landlord with an annual rent of £17,750. The location of this property is its main asset, the premises stand in the centre of the main shopping area and the once weekly market brings large numbers of visitors to the town.
The property is surrounded by other complimentary retailers and a good range of nightlife including public houses, clubs, restaurants and takeaway businesses. The property would lend itself to a large number of uses i.e. fast food outlet, restaurant, retail, hotel or residential apartments due to the size and layout of the building and the ground at the rear.
The properties close by have been changed to a multitude of different use therefore planning for the redevelopment should not be a problem to the new owners. Meridian Business Sales recommend early viewing on this property to appreciate the quality of location and the scope for future profitable redevelopment.
The development property is located in a prime position in the centre of the Market Square in the busy and thriving town of Hinckley in Leicestershire. The centre of Hinckley has all of the major amenities plus a good selection of public houses, restaurants and takeaway businesses providing large numbers of footfall for the retailers plus visitors from the outlining area.
Hinckley is located on the M69 motorway that links the cities of Leicester and Coventry and the smaller town of Nuneaton. The city of Coventry is renowned for its cathedral and was completely rebuilt after the Second World War.
Leicester has the largest undercover market in Europe and has just finished a 350 million pound redevelopment of the Shires Shopping Complex bringing big names such as John Lewis and the House of Fraser to the city. The area of Hinckley also boasts good schooling and recreational facilities.
GROUND FLOOR
Main doors leading to an open plan trading area approximately 500 sqft currently being used as an outlet for our client's knitwear business. The walls are decorated to neutral colours with a modern suspended ceiling and carpeted floor.
FIRST FLOOR
A staircase at the side of the property leads to the first floor which is currently let as a hairdressing salon this floor has also been refurbished to a good standard.
SECOND FLOOR
This floor has a self contained flat comprising of three bedrooms a large lounge, bathroom and kitchen. The bedrooms are all double in size with picture windows to the front of the building.
ADDITIONAL FLOOR
The building also has a large roof area to the back of the flat and hairdressing salon that is ideal to build upon and increase the floor area of the property.
EXTERNAL
To the rear of the property is a further piece of land of approximately 300 metres.
North Yorkshire
£ 750,000
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