Castle Street, Hinckley
- 13 - let to Savers Health and Beauty Ltd expiring January 2036 at £25,000 pax
- 15 - let to Sportswift Ltd t/a Card Factory expiring September 2027 at £22,500 pax
- Total passing rent £47,500 pax reflecting an attractive NIY of 6.75%
- Longer term development potential to convert uppers to residential
- NIA - 5,651 sq ft (525 sq m)
Retail, Investment
For Sale: £675,000
5,651 Sq Ft (524.98 Sq M)
Description
RETAIL INVESTMENT OPPORTUNITY - TENANTS UNAFFECTED. The subject property comprises two prime retail units let to national retailers in the prime retailing pitch of Hinckley town centre.
13 Castle Street is let to Savers Health and Beauty Limited and 15 Castle Street is let to Sportswift Ltd t/a Card Factory. Both units comprise a highly prominent retail premises, arranged over three floors, which benefit from ancillary stores, kitchen and WC facilities to the rear and above.
Externally, there is a shared yard area to the rear of the properties, accessed from Church Walk.
There may be future development potential (STPP) to convert the upper parts to residential.
Location
The property is located in the prime retail pitch of the pedestrianised area of Castle Street in Hinckley town centre. Nearby occupiers include EE, Cancer Research, Vodafone, The Works and Cards Direct.
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.
Accommodation
| Size | Description | |
|---|---|---|
| 13 Castle Street | 2,780 Sq Ft (258.26 Sq M) | Let to Savers Health & Beauty Ltd |
| 15 Castle Street | 2,871 Sq Ft (266.72 Sq M) | Let to Sportswift Ltd t/a Card Factory |
Services
We understand mains electricity, water and drainage are connected to each property.
Tenure
The Freehold interest in the subject property is available, subject to the leases in effect, at an asking price of £675,000.
13 Castle Street is let to Savers Health and Beauty on an FRI (subject to a Schedule of Condition) lease expiring 31 January 2036 at a passing rent of £25,000 pax. Tenant break dates 31 January 2029 and 2031 (subject to 6 months prior written notice). Upwards only rent review 12 January 2031 to open market rental value.
15 Castle Street is let to Sportswift Ltd t/a Card Factory on an FRI (subject to a Schedule of Condition) lease expiring 28 September 2027 at a passing rent of £22,500 pax. The tenant did not operate their break option dated 28 September 2025.
The total passing rent is £47,500 pax which reflects an attractive Net Initial Yield of 6.75%, based on the asking price.
Legal Costs
Each party to bear their own legal costs.
Energy Performance Certificate
13 Castle Street - C(60)
15 Castle Street - C(74)