LONG INCOME FREEHOLD CAR PARK INVESTMENT NCP LEE CIRCLE CAR PARK LEICESTER LE1 3RE INVESTMENT SUMMARY
• Substantial freehold car park investment • Located within the inner ring road in Leicester City Centre • Arranged over 7 decked levels with 1,070 car parking spaces and ancillary retail accommodation at ground floor level • Total site area extending to 1.81 acres (0.73 ha) • Fully let on a overriding lease (including NCP all ancillary retail accommodation) to LEE CIRCLE National Car Parks Limited from 19th CAR PARK June 2002 until 28th May 2037 providing 18 years unexpired • Current passing rent £296,632 per annum reflecting a very low passing rent of £277 per space • The lease benefits from annual rental uplifts in line with RPI (subject to a collar and cap of 1.5% & 5% per annum) with the next uplift due in June 2020 • The large site area provides excellent long term redevelopment opportunities within an area which has seen an increasing residential massing • Offers sought in excess of £5,300,000 (Five Million and Three Hundred Thousand Pounds), subject to contract and exclusive of VAT. This reflects an attractive net initial yield of 5.25% after allowing for purchaser’s costs of 6.60% A60
LOCATION A6097 A610 A52 A1 Leicester is located in the East Midlands, approximately 26 miles (42 km) south A6514 of Nottingham, 32 miles (51 km) from Derby and 45 miles (73 km) to the north east of Birmingham. A46 A515 A38 NOTTINGHAM The city has an estimated population of over 400,000 residents. It is the largest city in the East DER Y Midlands and the 11th largest city in the UK. The city attracts over half a million workers on a daily A50 A453 M1 basis and there are over 1.2 million workers within commutable distance. A607 A50 A518 NCP LEE The 2018 Good Growth for Cities Index ranks Leicester as the 10th best city in the UK to live and CIRCLE work, ahead of regional neighbours Birmingham, Nottingham and Derby. The City was also named CAR PARK A606 as the best place in the country for tech start-ups in the Tech Nation Report and came second in STAFFORDSTAFFORD A42 the study completed by Start Up Britain as one of the best places to start a business. A46
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A5 A452 LEICESTER A47 Leicester boasts 3 large universities; There are two successful major sporting clubs; A461 University of Leicester, De Montfort University Leicester City Football Club and Leicester and Loughborough University which Tigers. The former having secured the A34 M A6 combined have a population of approximately premiership title in 2015/16 and the latter 10 M 66,000 students (approximately 50% of times English Rugby Union champions. Both whom live in the city centre). of these clubs have provided major marketing A3 A5 A427 boosts to the city over recent years. M1 A45 A38 A41 M COVENTRY M A426 IRMINGHAM A14 A435 A508 A43