• Let to Kwik-Fit Properties Ltd

• Lease until December 2027 – no breaks

• Highly prominent roadside location on busy road

• Freehold

• Offers in excess of £800,000, subject to contract

• Attractive Initial Yield of 5.63%

The property is located one mile north of Leicester City Centre and lies in a highly prominent position on the main A6 Trunk Road known as Abbey Lane.

The surrounding area is mainly residential whilst close by on this major arterial route are various auto occupiers including main dealerships for Peugeot, Renault, Nissan and Lexus as well as depots for We Buy Any Car and Formula One Auto Centre.

Other neighbouring national commercial/retail occupiers include B&Q, Asda, Aldi, HSS Hire and Nuffield Health’s prestigious Fitness & Wellbeing premises situated opposite Abbey Park – the City’s premier and most historic public park.

Less than 5 minutes’ walk from the premises is The National Space Centre, home to the UK’s largest designated space museum, which welcomes over 300,000 visitors each year.

The property comprises a single storey tyre depot of steel portal frame construction with 5 vehicle entrance doors to the front elevation. The walls are of facing brick with pressed aluminium sheet above. There is a pitched roof lined internally. The property benefits from forecourt area to the front of the building.

Internally the property has painted concrete floor and is subdivided to provide office/reception area, staff area/toilets and workshop.

Freehold.

The property is let to Kwik-Fit Properties Limited, with a guarantee from Kwik-Fit Holdings Limited, on a full repairing and insuring lease for a term of 30 years from 22nd December 1997 until 21st December 2027.

The current rent is £47,527 pa (£11.31/sq ft), with a rent review due 22nd December 2022.

The property has been elected for VAT.  It is anticipated that the transaction will be treated as a Transfer of a Going Concern (TOGC).

We are instructed to seeks offers in excess of £800,000 (Eight Hundred Thousand Pounds), exclusive of VAT, in respect of our clients Freehold Interest in the property, with the benefit of the existing lease. This reflects a Net Initial Yield of 5.63% after deduction of purchaser’s costs.

Please note that a purchaser will be charged a Transaction Fee of £5,000 plus VAT.

Access to the data room and for the ability to purchase online with speed and ease, please click the clicktopurchase® “C” icon or the clicktopurchase® side bar. Purchasers will be able to access the complete legal package, clear verification and submit legally-binding offers to acquire the property.

Purchasers benefit from the trust, security and transparency provided by the platform. All activities, including the online contract execution, will form part of the electronic audit trail which is anchored in the clicktopurchase® Blockchain.

clicktopurchase® provides the opportunity for any investor, whether located UK or abroad, to uniquely purchase online with ease and certainty. To learn more about clicktopurchase®, click here.

We have established relationships with a number of leading finance companies who are in a position to quote terms for suitable situations. To learn more, please visit our “Finance” section.