planning consent for 100 student studios...
TRANSCRIPT
T: 0121 654 1065 vailwilliams.com
32-38 MARKET PLACE, ODEON ARCADE, LEICESTER LE1 5HJ TOWN
PLANNING CONSENT FOR 100 STUDENT STUDIOS FOR SALE
KEY FEATURES
• Consent for 100 Studios • Income Producing Ground Floor Retail • City Centre Location • 6 minute walk to University
T: 0121 654 1065 vailwilliams.com
32-38 MARKET PLACE, ODEON ARCADE, LEICESTER LE1 5HJ TOWN LOCATION The property stands proud in a central position within Leicester city centre surrounded by a large number of well recognised retailers and restaurants. De Montfort University lies approximately 0.3 miles west, the walking equivalent of 6 minutes and University of Leicester lies 0.8 miles south east, the equivalent of 15 minutes walk. Leicester had an astounding £3 billion of recent investment, transforming the city centre into a hub of entertainment, shopping and culture. The £350 million Highcross shopping centre, located adjacent to the property, has become one of the premier destinations for shoppers in the Midlands, with a huge range of shops, a new restaurant quarter and Leicester's first city centre multiplex cinema.
DESCRIPTION The property comprises a retail arcade with former Odeon cinema above set over basement and 5 floors. The 10 retail units are income producing, however, provide an asset management opportunity to generate greater income.
PLANNING CONSENT Application No: 20141671 Planning Granted: 29 January 2015 • 100 Student Studios (100 1 x bed) • 2 x new retail units • 4th Floor extension • Extension to form 5th Floor
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32-38 MARKET PLACE, ODEON ARCADE, LEICESTER LE1 5HJ TOWN PROPOSED PLANS
*Full floor plans on request
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32-38 MARKET PLACE, ODEON ARCADE, LEICESTER LE1 5HJ TOWN SCHEDULE OF AREAS
Unit Tenant Floor Area
(NIA) Rent net Expiry
The Auditorium Market Place
Vacant 11,459 £-
Unit 1,2,3 Odeon Arcade, Market Place LE1 5HJ
Bhallatex Ltd t/a Material Magic 1,292 £12,000 24.10.19
Unit 4 LE1 5HJ
Bhallatex Ltd t/a Material Magic 429 £5,000 24.10.19
Unit 5
Mr A Raja 392 £6,500 28.02.18
Unit 6
Saruj Bhandari 377 £5,000 01.11.17
Unit 7
Jane Martin T/A Memories 394 £6,500 10.03.18
Unit 8 LE1 5HJ
Abigail Smith t/a Nottingham Lace 657 £9,000 23.02.18
Unit 9
Dean Glennie 2,504 £28,000 20.11.21
Unit 10
Miguel Rodriguez 207 £5,000 01.09.19
Kiosk 1
Vacant 64 £-
Kiosk 2
A D Taylor esq 78 £4,500 28.09.24
Total Passing
17,853 £81,500
ERV
£144,000
T: 0121 654 1065 vailwilliams.com
32-38 MARKET PLACE, ODEON ARCADE, LEICESTER LE1 5HJ TOWN STUDENT ACCOMMODATION MARKET IN LEICESTER Leicester is a strong higher education city boasting two Universities with a total of circa 37,475 students.
De Montfort University continues to rise through the tables, currently ranked at 54th, whilst University of Leicester
holds an impressive 18th position.
University No of Students University Bedrooms The Times Ranking 2015
Leicester 17,160 5000 18th
De Montfort 20,315 2680 54th
Total 37,475 7680
Source: (Times Good University Guide 2015/HESA/Vail Williams Research)
T: 0121 654 1065 vailwilliams.com
32-38 MARKET PLACE, ODEON ARCADE, LEICESTER LE1 5HJ TOWN
EPC
Unit 1-3 0590-9568-1930-3400-4003 : C:68
Unit 4 0340-0930-7559-5296-2006 : D:92
Unit 5 0321-0530-4009-5196-0006 : D:97
Unit 6 9269-3066-0804-0400-3291 : E:111
Unit 7 9681-3006-0607-0801-3195 : D:89
Unit 8 9733-3036-0704-0100-3395 : D:94
Unit 9 0960-4999-0300-3371-4030 : G:167
Unit 10 9433-3076-0900-0402-3991 : E:114
Bingo 0960-4914-0350-1360-2074 : E:119
PRICE
Upon application
SERVICES Vail Williams LLP has not checked and does not accept responsibility for any of the services within this property and would suggest that any in-going tenant or occupier satisfies themselves in this regard.
BUSINESS RATES Interested parties are advised to make their own enquiries to Leicester City Council on 0116 454 1005.
TENURE Freehold
LEGAL COSTS Each party to be responsible for their own legal costs incurred in this transaction.
VIEWING Strictly by prior appointment with Vail Williams LLP.
CONTACT DETAILS Steven Bott Vail Williams LLP Four Brindleyplace Birmingham B1 2JB
Tel: 0121 654 1064 Email: [email protected]
Misrepresentation Act 1967 – Vail Williams for themselves and for the vendors or lessors of this property, whose agents they are, give notice that: 1. The particulars are set out as a general outline only for the guidance of intended purchasers or lessees and do not constitute nor constitute part of an offer or contract. 2. All descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. 3. No person in the employment of Vail Williams has any authority to make any representation or warranty whatsoever in relation to this property. Finance Act 1989 – Unless otherwise stated, all prices and rents are quoted exclusive of Value Added Tax (V.A.T.). Any intending purchasers or lessees must satisfy themselves independently as to the incidence of V.A.T. in respect of any transaction.
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