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Castle Street, Hinckley

  • Prominent location on the main pedestrianised retail thoroughfare of Castle Street in Hinckley
  • Fully let with ground floor retail tenant and first floor office tenant
  • Nearby occupiers include Holland & Barrett, CEX, Game and B&M Bargains
  • NIA - 2,458 sq ft (228.4 sq m)
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Investment

For Sale: £325,000

2,458 Sq Ft (228.35 Sq M)

The subject property comprises a ground and first floor retail/office premises surmounted by a flat roof. The ground floor provides a retail unit, currently leased to a local operator and trading as 'Hinckley Mobiles'. At first floor, there is an open plan office and meeting room which is let however we understand the tenant is no longer in occupation. Archive floor areas (subject to confirmation): Gross Frontage 7.30 m (23' 11") Net Frontage 6.70 m (21' 11") Shop Depth 16.70 m (54' 9") Built Depth 22.00 m (72' 2") Ground Floor 115.60 sq m (1,244 sq ft) First Floor 112.80 sq m (1,214 sq ft) There are 3 pay and display car parks in close proximity close to the property, one located directly to the rear.
The subject property comprises a ground and first floor retail/office premises surmounted by a flat roof. The ground floor provides a retail unit, currently leased to a local operator and trading as a Mobile Phone outlet. At first floor, there is an open plan office and meeting room which is let however we understand the tenant is no longer in occupation.

The subject property is located towards the top end of Castle Street in Hinckley, which is the main retail thoroughfare in the town. The Britannia Shopping Centre is circa 100m from the property, featuring occupiers including New Look, Greggs, Peacocks, Wilko and Boots. Other occupiers on Castle Street include CEX, Holland & Barrett, W H Smith, Specsavers, O2, EE, Vodafone, Subway and Costa Coffee. 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 provides regular commuter services to Birmingham New Street and Leicester.

We are advised that the ground floor is let to a local covenant t/a 'Hinckley Mobiles' at a rent of £16,000 per annum, with lease expiry on 24 April 2020. The lease is outside of the security of tenure provisions of the Landlord & Tenant Act 1954. Our client has advised that the tenant is interested in a lease renewal. We are advised that the first floor is let and the tenant is not in occupation. Lease terms to be confirmed.

EPC rating: D(85) A copy of the EPC and recommendation report can be obtained from our office on request.

For more information please get in touch with our property experts

Harry Ward
Chartered Surveyor and RICS Registered Valuer
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