Summary
INVESTMENT PROPERTY
Location
The property fronts onto Leopold Street, within a few hundred metres of the the Town Hall. The rear property fronts onto the pedestrianised Orchard Street. The main shopping district of Fargate is close by, there are frequent public transport services, including Supertram etc.
Both Universities are within walking distance.
Accommodation
Ground Floor:
Restaurant including kitchen and toilets – 108 sq m (1163 sq ft), recently fully fitted out.
Basement:
Office, and stores – 46 sq m (495 sq ft).
20 Orchard Street (Bookmakers Premises) - 59 sq m (635 sq ft), including retail area, counter, and public toilets.
Upper Floor: Each floor contains two well proportioned apartments. Each apartment contains living area, kitchen, two bedrooms, each with ensuite shower/WC, full underfloor heating. These apartments are exceptionally well fitted, the whole refurbishment was carried out to a high standard including air-source heat pumps.
Lease/Tenancy Details
9 Leopold Street (restaurant) - newly signed three year lease on an internal repairing basis at £23,500 per annum exclusive of rates.
Basement – the office is let on an informal tenancy at £2,500 per annum.
20 Orchard Street – let to William Hill Organisation Ltd for a term expiring in June 2021 at a rental of £21,000 per annum, exclusive of rates.
The residential accommodation has been let on assured shorthold tenancies, the majority oneleven month tenancies, and some ontwelvemonths (schedule as detailed below).
| Apartment No. | Monthly Rent | Tenancy Length | Annual Income |
| 1 | £1,200 | 11 | £13,200 |
| 2 | £1,200 | 11 | £13,200 |
| 3 | £1,300 | 12 | £15,600 |
| 4 | £1,200 | 11 | £13,200 |
| 5 | £1,300 | 11 | £14,300 |
| 6 | £1,100 | 11 | £12,100 |
| 7 | £1,300 | 12 | £15,600 |
| 8 | £1,200 | 12 | £14,400 |
| 9 | £1,300 | 11 | £14,300 |
| 10 | £1,200 | 12 | £14,400 |
Summary of Income
Restaurant: £23,500, basement: £2,500, 20 Orchard Street: £21,000, residential: £140,300.
Total - £187,300
Tenants include William Hill Organisation Ltd.
New three year lease on ground floor restaurant.
In the heart of the City Centre close to the Town Hall, the major shopping street of Fargate, Orchard Square etc.
10 exceptionally well appointed 2 bedroom apartments. NOTE: Quoted size excludes apartments.
Gross annual income for 2019/20 of £187,300 per annum.
Listed Features
- Restaurant
- Refurbished
- WC Facilities
- Office
- Kitchen
- Multiple floors
- General Retail
- Heating
- Basement
