1 March 2023: Wednesday 01 March 2023 - 9:00am
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    Key features

    • Investment let at £374,106 p.a.
    • Investment let to the DMU University
    • Comprising of 90 bedrooms
    • Split across 15 x six bedroom houses
    • Asset management potential to improve the passing income by self managing the assets and refurbishing the rooms (subject to the existing tenancy in place)
    • Possible further development potential to convert back into houses or flats (subject to the requisite consents and existing lease)
    • Close to the DMU (app. 0.4 miles), Hospital (app. 0.5 miles), Leicester Uni (app. 1.4 miles) and Leicester Rugby (app.0.6 miles) and Football stadiums (app. 0.4 miles)

    Description

    The asset comprises of 15 x six bedroom houses amounting to 90 bedrooms arranged over first, second and third floor.

    The properties are mixture of mid and end terrace properties fronting Sage Road and Mint Road.

    Each house has one shared Kitchen and one common room with seating and dinning. There is communal gardens located at the rear of the properties.

    Additional information

    Tenure

    Freehold

    Accommodation

    The property has not been internally inspected but believed to comprise of the following.


    15 x 6 bedroom terraced houses - Each house is believed to comprise of the following

    • 6 single beds with desks, Wardrobes, drawers
    • 2 x Toilets and 2 showers
    • Kitchen
    • Common room with dinning table and seating area


    Tenancy

    Bede Island

    • Let to De Montfort University (DMU)
    • On a 25 year lease from 1999 (Reversion 2024)

    Rent

    £374,106 p.a.

    Notes

    Please note, the site areas provided are approximate. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. The property has not been internally inspected by Savills, prospective purchasers must rely upon their own enquiries in this regard.

    Please also note, that at the time of print/auction the income and tenancies are reported to be correct.


    The Seller uses Derwent Facilities Management, a subsidiary of the Places for People Group, to provide the facilities management services at Bede Island.  The terms of the agreement are internal and if the Buyer wishes to continue using these services then discussions can be held directly with Derwent Facilities Management to negotiate commercial terms. 

    Letting of the property is covered by a lease with De Montford University until 2024, a copy of this lease has been provided

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The properties are located on junctions of Mint Road and Sage Road and can be found in the Bede Island area. Bede Island is home to Bede Hall (student halls), Bede Park as well as shops, Cafes and restaurants located on Western Blvd.

      Leicester station is located and approx. 1.2 miles from the property.

      Transport

      Leicester station - National rail services

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums