Investment Properties: 1-9D Castle Street and 8 Market Place, Hinckley, Leicestershire, LE10 1DA

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1-9D Castle Street and 8 Market Place, Hinckley, Leicestershire, LE10 1DA

OIEO £1,700,000 / 9.06% NIY and 9.95% NRY Subject to Contract

Located in the centre of Hinckley (the second largest town in Leicestershire).

Attractive and affluent town 12 miles south west of Leicester, easily accessed from London via M1.

100% Prime location within the town centre (situated opposite Santander and Dorothy Perkins).

Accommodation totals approx. 14,300 sq ft and has 6 car parking spaces.

Freehold.

Total current income of £163,579 pa from 15 tenants:

  • Attractive WAULT of 3.8 years to breaks / 6.4 years to expiries.
  • 46% of income is from 4 National tenants (all retail with WAULT of 3 years to breaks and 10 years to expiries).
  • 90% of income is from 7 retail tenants.

The income is reversionary by at least 10%.

Offers are invited in excess of £1,700,000 (One Million Seven Hundred Thousand Pounds) reflecting a Net Initial Yield of 9.06% and a Net Reversionary Yield of 9.95% (assumes purchaser’s costs at 6.18%) and a low capital value of approximately £119 per sq ft.