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Ariel Works, Temple Road, Leicester, LE5 4JG
118,274 Sq Ft / Land
Withdrawn - Last updated: 29 March 2017
The Property comprises substantial factory premises divided to provide 43 business units with a rental income of £407,XXXa
The total site area is 4.23 acres with the surrounding area characterised by residential and commercial uses.
The premises therefore offer a rare opportunity to acquire a high yielding investment property with high occupation levels and with potential for redevelopment (subject to planning).
Offers sought for the freehold interest subject to the tenancies of £3.5 million.
Gross rental is £407,XXXa but the owners currently contribute towards repairs, sercuirty and insurance of approximately £44,000 providing a net income of £363,XXXa .
Based on net income of £363,XXXa, Stamp duty of £164,500 and additional purchase costs of £61,250 (1.75%), this equates to a Net Initial Yield of 9.74%
The premises are part subject to VAT but the sale to be treated as a Transfer of a Going Concern, avoid VAT payment with the sale.
( Agency Pilot Software Ref: 629 )
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