RBS, Leicester

 

5 Market Street, Leicester, East Midlands, Leicestershire, LE1 6DN

Offers in excess of
N/A
Acquired
Type - Commercial
Tenant type - Bank
  • Tenure: Freehold
  • Gross Rent: £123,000
  • Lease Term: 35 yrs from Aug '91
  • VAT applicable?: Y

Property Description

  • Freehold City Centre Bank Investment.
  • This attractive property is arranged on basement, ground and 3 upper floors to provide a ground floor banking hall, with ancillary staff and office accommodation and storage room.
  • The property comprising of a total of 954 sq m (10,263 sq ft).

Location Description

  • The city of Leicester is one of East Midland's major commercial centres, located adjacent to the M1 Motorway (junction 21) and its junction with M69 Motorway.
  • The City also benefits from regular rail services to London and the North.
  • The property is well located on the corner of the pedestrianised Market Street, at its junction with Millstone Lane.  De Montfort University, University of Leicester, Leicester Royal Infirmary and Leicester Rail Station are all nearby.
  • There are numerous student accommodation blocks nearby, as well as bars and pubs.  Retail occupiers close by include McDonald's (adjacent), Nisa, Tesco Express, Fat face, White stuff, Gregg's, Subway, Caffe Nero, Holland & Barrett, Yorkshire Building Society, State Bank of India, Santander and Max Speilmann, amongst many others.

Additional Notes

  • The entire property is let to The Royal Bank of Scotland Plc for a term of 35 years from 25th March 1991 and a term of 10 years from 25th March 2026 (no breaks) by way of reversionary lease.
  • Rent review every 5th year (Rent review for 2016 outstanding).
  • The rear service yard and/or the upper floors may have potential for future development/conversion to residential use, subject to obtaining necessary consents.

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