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A fully renovated student let investment property with a ground floor commercial unit.
The property consists of a four storey building, with a ground floor commercial unit with a current usage classification of :
A1 Shops – Shops, retail warehouses, hairdressers, undertakers, travel and ticket agencies, post offices, pet shops, sandwich bars, showrooms, domestic hire shops, dry cleaners, funeral directors and internet cafes.
B1 Business – Offices (other than those that fall within A2), research and development of products and processes, light industry appropriate in a residential area.
The building occupies a corner plot, with a double frontage looking onto London Road and De Montfort Street. The ground floor unit is currently an Insurance brokerage firm, and is also advertised for rental (£16, 000pa).
The building sits in close proximity to the University of Leicester, the train station, local businesses and the city centre. The upper floors have been recently renovated into 3 student focused apartments, which are pre let for the 2018/19 academic year.
Student Income of £68, 200 pa.
Commercial unit income – £16, 000 pa
Combined gross of – £84,000 pa
Gross Yield – 6.7%