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.

The accommodation comprises a ground floor retail area, with partitioned bureau de change, stores, kitchen and WC facilities.

Externally, there is a shared car parking and loading area to the rear.

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 subject property. Heating and cooling is by way of air conditioning.

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 The Independent Travel Company Limited (a Midlands based travel agency with 14 branches) for a period of 10 years from 11 November 2013 with 5 yearly break options and rent reviews. The passing rent is £18,000 per annum which reflects an attractive net initial yield of 7.8%. The tenant has a Creditsafe score of 74A, representing a very low risk of business failure.

Each party to bear their own legal costs.

EPC Rating - C(70)