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4 Coral Street, Leicester, LE4 5BD
£1,750,000 OIRO
Bathrooms
Ruut Homes presents a well-maintained, four-storey freehold commercial building offering versatile internal layouts suitable for office use, training centres, or other service-based businesses. The third floor (previously attic space) has recently received planning consent for commercial use, adding immediate value and further income potential.
The building includes:
Lift access to all floors
Fire exits on every level
15 toilets throughout the building
Flexible floorplates with scope for reconfiguration or redevelopment (STP)
Two separate entrances providing increased flexibility for multiple occupiers
Location:
Located on Bridge Road, Leicester LE5, the property lies within a well-established and busy commercial district. The area benefits from strong footfall, excellent transport links, and proximity to major road networks and local amenities, making it attractive to a wide variety of business occupiers.
Tenancy & Income Overview:
- The property is currently arranged over four floors with a mix of tenancies and strong income potential.
- The ground floor is let for 35,000 per annum, occupied by multiple departments and includes 5 WCs.
- The first floor is also let, with one year remaining on the lease, generating 20,000 per annum and featuring 4 WCs.
- The second floor is let at 15,000 per annum and includes 4 WCs.
- The third floor is currently vacant, but has recently been approved for commercial use and is estimated to achieve 10,000 to 12,000 per annum, with 2 WCs already in place.
Total Potential Income: 82,000 per annum
Development Potential (STP)
The property also offers scope for:
Reconfiguration or refurbishment to attract higher-value commercial tenants
Mixed-use development, subject to planning
Intensification of layout to accommodate serviced office or training suite use
Viewings & Further Information:
Strictly by appointment only through Ruut Homes Commercial Team.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
4 Coral Street, Leicester, LE4 5BD
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