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Vacant Building with Planning for 42 Flats & 2 Commercial Units, Leicester


£ 1,300,000
10 St James Street and 64/66 Humberstone Gate, Leicester, LE1 3PJ

Basic Facts

Status: Type: Tenure: Freehold VAT applicable: Yes

Property Description

  • Freehold former nightclub and gym with planning to be redeveloped into a 42 flat development with 2 retail units
  • The approved scheme will comprise 42 studio, one and two bedroom apartments together with two ground floor retail units.
  • The building’s historic facade will be retained, and a six-storey building erected featuring red brickwork in Flemish bond, stone textured render details and Juliette balconies with frameless glass balustrades, to complement the local vernacular and honour the 1920’s heritage.
  • The property is currently arranged on ground and two upper floors to provide a bar and nightclub with a manager’s office on the first floor and a self-contained former gym on part ground, first and second floors, which is currently arranged as a modern conference and banqueting hall
  • The nightclub comprises 11,420 sq. ft. and the gym, comprises 13,807 sq. ft.
  • There is parking for ca. 10 cars on site

Location Description

  • Leicester is one of the East Midlands’ major commercial centres, located adjacent to the M1 and M69 Motorways.
  • The city has a population of some 318,000 and has regular rail services to London and the north.
  • The property is situated on a corner position with an extensive frontage on to Humberstone Gate which runs from the ring road to the heart of Leicester city centre.
  • Humberstone Gate forms part of the town’s principal shopping centre area, and the property is within walking distance of Leicester Town Hall and Highcross Shopping Centre.
  • Occupiers close by include Sainsbury’s (adjacent), Subway, Primark and New Look.
  • Lee Circle car park which can accommodate over 1,000 cars is located towards the rear of the property

Additional Notes

  • There is potential to amend the planning for this site into student accommodation
  • Offers are sought for this property on an unconditional basis

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