Castle Street, Hinckley

INVESTMENT PROPERTY FOR SALE - BUSINESS UNAFFECTED. The subject property comprises a prominent retail unit on the pedestrianised section of Castle Street in Hinckley, adjacent to Greggs.

The accommodation comprises a ground floor cafe area, with open kitchen, preparation area and WC. To the first floor, there are store areas. Externally, there is a car park to the rear of the property.

The property benefits from a sliding door frontage along with awning, laminate flooring and a suspended ceiling.

The property is located in the prime retail pitch of the pedestrianised area of Castle Street in Hinckley town centre. Nearby occupiers include Greggs, Subway, TUI, 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.

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

The property is available for sale on a long leasehold basis, based on a new lease of 999 years from completion, at an asking price of £225,000 subject to the occupational lease in effect.

The property is let to M. Behgozin for a period of 20 years from 7 July 2013 with no break options. The passing rent is £19,500 per annum which reflects an attractive net initial yield of 8.5%.

Each party to bear their own legal costs.

EPC Rating - B(40)