Summary
The property comprises a two-storey accommodation block to the south containing 12 flats and 56 bedrooms, an administration block to the north, parking to the north and east and land to the west.
The property is located in Wigston, 3.8 miles (6.1 km) to the south of Leicester city centre. It is in a mixed-use area with mainly commercial uses to the north, east and south-east, the recently built HMP Fosse Way to the west, a railway line running along the southern boundary of the site and, beyond this, residential accommodation.
We understand from the Energy Performance Certificate that the buildings extend to 25,467 sq ft (2,366 sqm). The property is set in approximately c. 2.4 acres (1.0 ha).
Key Points
FreeholdApprox. 2.4 acres (1.0 ha)Income of £182,600Good transport links
Viewings
All parties wishing to inspect the property are required to make prior arrangements with Avison Young.
Avison Young request that interested parties do not attempt to gain access to the property outside of accompanied viewing inspections.
Tenancies
There are currently two leases, outside of the provisions of the 1954 Act, in place at the property as follows:
Accommodation block: Let to Serco for 10 years from August 2019, expiring August 2029, tenant break in July 2026, base rent of £145,600, annual rent reviews with CPIH-linked increases
Administration block: Let to D&H Community Support for 4 years from July 2025 at a base rent of £37,000, annual rent reviews with CPIH-linked increases
The property is to be sold freehold with currents leases in place and easements and statutory designations currently passing. Prospective purchasers must satisfy themselves in this regard.
Floor Areas
We understand from the Energy Performance Certificate that the buildings extend to 25,467 sq ft (2,366 sqm).
The property is set in approximately c. 2.4 acres (1.0 ha).
EPC
An Energy Performance Certificate dated 19th September 2015 shows a rating of D-89.
VAT
The property has not been elected for tax.
Tenure
The property currently comprises a freehold title (title ref.: LT424427) extending to a total of circa 2.37 acres (0.96 ha) gross.
Planning
The local planning authority is Oadby and Wigston Borough Council.
Planning policies for the area are contained within the Borough of Oadby and Wigston Local Plan (2011-2031) and the supplementary planning documents. We understand that an updated local plan is currently in consultation.
We understand the current planning use is Sui Generis, however all parties should make their own enquiries of the local planning authority.
Services and HIghways
We understand that all mains services are available to the property however, prospective purchasers must satisfy themselves in respect of the availability, capacity and sustainability of all services and utilities.
Business Rates
XXX
Council Tax
The 12 flats at the accommodation block each have a Council Tax band of A.
Location
The property is located in Tigers Close c. 3.8 miles (6.1 km) to the south of Leicester city centre. It is in the town of Wigston in the Oadby and Wigston District of Leicestershire.
Coventry is approximately 18 miles (29 km) to the south-west, Nottingham is 25 miles (40 km) to the north, Northampton is 25 miles (40 km) to the south-east and Birmingham is 32 miles (51 km) to the west.
South Wigston railway station is 0.25 miles (0.4 km) to the east of Kennedy House and has regular services to Leicester and Birmingham New Street.
There are bus stops along Tiger Road which provide services to Leicester city centre and South Leicestershire College.
Junction 21 of the M1 and M69 is located 2.5 miles (4 km) to the west of the property.Terms
Offers are to be submitted in writing together with any supporting information to the selling agents.
lucy.briggs@avisonyoung.com
joe.williams@avisonyoung.com
Interested parties are permitted to submit an offer on more than one basis. Our client reserves the right not to accept the highest or any offer received.