Wood Street, Hinckley
- 14 apartments to be converted from a former factory premises and 12 in a new build block
- Planning approved in committee meeting - awaiting formal Decision Notice
- Site area of approximately 0.45 acres (0.18 hectares)
- Existing Buildings GIA - 14,918 sq ft (1,385.9 sq m)
Land
For Sale: £600,000 Offers over
0.45 Acres (0.18 Hectares)
Description
The subject property comprises former factory premises on Wood Street, in the heart of Hinckley town centre, which benefits from planning permission (approved in committee on 22 August 2023, formal decision notice awaited) for a part conversion and part new build development for 26 apartments.
The existing buildings comprise two elements, being a mid 20th century two-storey building of brick construction surmounted by a flat roofing system and early 20th century two-storey building of brick construction surmounted by a pitched tiled roof, which is adjoined to the mid 20th century building at first floor level.
Externally, there is a surfaced yard which is accessed from Wood Street through an archway between the adjoined section of the buildings. The total site area is in the order of approximately 0.45 acres (0.18 hectares).
Location
The subject property is situated on Wood Street, which is a one-way street lying on the eastern fringe of Hinckley town centre and which largely runs parallel to the upper elements of Castle Street, which itself is the principal retailing street of the town. Wood Street itself is a mixture of residential and commercial uses.
Hinckley is a market town with a population in the order of 55,000 (Local Authority 105,000) 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.
Accommodation
| Size | Description | |
|---|---|---|
| Ground | 1,808 Sq Ft (167.96 Sq M) x 1,808 Sq Ft (167.96 Sq M) | 23A |
| Ground | 1,894 Sq Ft (175.95 Sq M) x 1,894 Sq Ft (175.95 Sq M) | 23B |
| Ground | 1,647 Sq Ft (153.01 Sq M) x 1,647 Sq Ft (153.01 Sq M) | 23C |
| Ground | 1,916 Sq Ft (178 Sq M) x 1,916 Sq Ft (178 Sq M) | 23D |
| First | 7,653 Sq Ft (710.96 Sq M) x 7,653 Sq Ft (710.96 Sq M) | Floor |
Services
We understand mains electricity, water and drainage are connected to or available to the site.
Planning
We are advised that planning permission was approved by Hinckley & Bosworth Borough Council at the planning committee meeting on 22 August 2023 (Minutes available from the following link - https://moderngov.hinckley-bosworth.gov.uk/documents/g2260/Printed%20minutes%20Tuesday%2022-Aug-2023%2018.30%20Planning%20Committee.pdf?T=1) for a hybrid planning application comprising: outline application (access, appearance and scale to be considered) for the demolition of existing factory building and erection of a residential building comprising up to 12 residential units; a Full application comprising the change of use of the existing factory building to residential including the addition of an extra storey and comprising 14 residential units (Ref. No: 22/00695/HYB). Prospective purchasers should note that the Decision Notice is awaited.
Tenure
Offers over £600,000 are invited for the Freehold interest in the subject property, subject to either vacant possession or the current occupational agreements in place. The current occupational agreements comprise tenancies at will to four occupiers at a passing rental of £12,240 per annum.
Legal Costs
Each party to bear their own legal costs.
Energy Performance Certificate
EPC Rating - G(174)