Narborough Road, Leicester

Readings Property Group are pleased to bring to market the opportunity to purchase a freehold Investment Opportunity on Narborough Road. The property offers a ground floor cafe/restaurant with complete kitchen fit out and currently vacant. The first floor consists of a three-bedroom flat currently occupied. The estimated rental income of the whole site is approx. £25,000 per annum.

Description & Location

The property is located on Narborough Road which is the main thoroughfare into Leicester City Centre. Narborough Road is a popular and well-established retail area which also has a mix of other commercial users. The subject property is situated along a parade of shops close to the 'West End' Bridge. Nearby occupiers include national retailers such as Wilkinsons, The Co-operative Supermarket, Aldi, Starbucks, Domino’s Pizza & Iceland.

The ground floor consists of a cafe which operated for over 40 years. It has approx., 30 covers and a large kitchen with an extraction system already fitted and ready to lease to a new tenant. The upper floors consist of a self-contained three-bedroom flat currently let for £750 pcm (£9,000 per annum)

Opportunity & Terms

An ideal investment opportunity offering a potential gross yield of approx. 8.5%.

The ground floor is vacant as the occupier has retired. It is currently offered at a rental of £15,000 per annum

The first floor residential three-bedroom flat is let at £750 pcm (£9,000 per annum). we believe this can be increased to £850 pcm (£10,200 per annum).

The total estimated rental income is £25,200 per annum.

Accommodation

Ground Floor Cafe/Restaurant

Main Shop Floor : 31.5 sqm (339 sqft)
Kitchen, Prep area & WC: 21.7 sqm (233 sqft)
WC Facilities available

Total Gross Internal Area: 53.2 sqm (572 sqft)

First & Second Floor Residential

Bedroom One: 3.2m x 3.0m
Bedroom Two: 2.8m x 2.3m
Bedroom Three: 3.6m x 3.6m
Bathroom: 2.5m x 1.1m
Kitchen: 4.2m x 2.4m
Living Room: 3.6m x 3.9m

Total Gross Internal Area: 55.6 sqm (598 sq.ft)

Rating

Rateable value: £12,250
Rates payable 2026/27: TBC

Prospective buyers are required to confirm rates payable with the local authority and make their own enquiries regarding small business rates relief.

Council Tax Band: A

Energy Performance

EPC Rating - B

Planning

Taking in to consideration the current ground floor user , we believe the current planning use would fall under Class E

We would advise all interested parties to make their own enquiries and not solely rely on information we have provided

VAT

VAT is not payable

Services

Mains Water, Electric & Gas are available

Legal Costs

Each party to pay their own legal costs.

Viewings

Strictly by appointment with sole agent, Readings Property Group, 48 Granby Street, Leicester LE1 1DH (Hassan Gaffar). (0116) 2227575

Agents Notes

CONSUMER PROTECTION LEGISLATION - These details have been written to conform to Consumer Protection Legislation. Whilst we endeavour to make our Details accurate and reliable, if there is any point of particular importance to you, please contact the office and we will check the information for you, particularly if contemplating travelling some distance to view. Measurements are given in good faith and whilst believed to be accurate these should be checked by the prospective tenant for verification. The measurements are carried out in accordance with the RICS and ISVA code of measuring practice.