High-yielding, mixed-use properties star at Leicester auction

A large shop and residential development with estimated rent of up to £45,000 is one of the star properties appearing at SDL Auctions Graham Penny’s auction in Leicester next week.

The mixed-use freehold property at 34 and 34a St Peters Road in the Highfields area is already bringing in £19,800 a year on a 20-year-lease from a 2,000 sq ft ground floor shop.

Additional estimated rent of £25,000 a year could come from a large, six-bedroomed flat on the first floor which could be converted into three studio and three one-bedroomed flats, subject to planning permission.

The property, with a guide price of £450,000+, is expected to raise high interest at the auction at King Power Stadium in Leicester on 10th August.

Carl Finch, senior valuer at SDL Auctions Graham Penny, said: “This property is in a highly desirable location less than one mile from the city centre, on a busy thoroughfare with plenty of passing trade and close to Leicester University.

“As well as the healthy existing shop rent, the potential residential development could make this an attractive investment, and initial plans for this can be found in the legal pack.

“This is just one of a number of attractive commercial and residential lots at the auction that are set to make 10 August a busy day.”

Another star mixed-use lot at the auction is a three-storey, part-let property at 102 High Street, in Rushden, Northamptonshire, with a guide price of £200,000+.

This has a large shop premises on the ground floor formerly occupied by Bargain Booze, with a two-to-three bedroomed duplex apartment arranged over the first and second floors.

The apartment is already let at £6,000 a year, and the estimated rental income for the shop – which still has an alcohol sales license – is another £14,000 a year.

Mr Finch said: “This property is a superb investment opportunity. It’s in good order throughout, with gas central heating and uPVC double glazing.

“It’s located in a busy town centre alongside local and national brands, with plenty of footfall and a large residential population.”