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Castle Street, Hinckley

  • Located in the prime retail pitch of the pedestrianised Castle Street in Hinckley
  • Let to Coral Racing Ltd for 15 years from 3 February 2009 at a passing rent of £60,500 per annum
  • Four car parking spaces in the communal car park to the rear.
  • NIA - 2,944 sq ft (273.5 sq m)
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Investment

For Sale: £425,000

2,944 Sq Ft (273.5 Sq M)

The subject property comprises ground floor retail premises in the prime pedestrianised retail area of Castle Street in Hinckley.

The accommodation comprises a retail sales area with ancillary stores, WC facilities and safe room. There is car parking for four cars within the communal car park at the property. The property benefits from suspended ceilings with inset LED lighting and air conditioning.

The property is located in the prime retail pitch of the pedestrianised area of Castle Street in Hinckley town centre. Nearby occupiers include Subway, TUI, Boots Optician, Hays Travel, Clarks, Vodafone and Vision Express.

Hinckley is a market town with a population in the order of 55,000 (Local Authority 112,000) lying approximately 13 miles to the south west of Leicester. The town enjoys good motorway communications with Junction 1 of the M69 Motorway being located on the south eastern fringe of the conurbation approximately 2 miles from the town centre. Hinckley railway station is located approximately 600m from the property and provides regular commuter services to Birmingham New Street and Leicester.

Size Description
Ground 1,767 Sq Ft (164.15 Sq M) Retail
Ground 628 Sq Ft (58.34 Sq M) Ancillary
Ground 548 Sq Ft (50.91 Sq M) Safe Room

We understand that mains electricity, water and drainage are connected to the property.

We are advised that the property is held long leasehold for a term of years expiring in 3004 at a peppercorn ground rent.

The property is sub let to Coral Racing Limited for fifteen years beginning on and including 3 February 2009 at a passing rent of £60,500 per annum.

Offers in the region of £425,000 are invited for the long leasehold interest in the subject property, which reflects an attractive Net Initial Yield (NIY) of 13.68%, assuming purchaser costs of 4.03%.

EPC Rating - G(194)

For more information please get in touch with our property experts

Harry Ward
Director & Chartered Surveyor
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