Union Wharf, Leicester Road, Market Harborough, Leicestershire, LE16

Guide Price: £1,100,000 - £1,200,000

The site comprises a mixed-use scheme situated around Union Wharf. It includes the original wharf building, now trading as a restaurant/bar and a self-contained office/studio let to a local gallery, together with a part-let office building, a block of fully-let terraced single storey commercial units/studios and a residential block that is subject to a long lease on a peppercorn rent. The entire site benefits from ample parking areas.

We understand the access road is included within the sale and as part of the disposal, the Vendor will have access rights for operational use following on from.

AREAS AND ACCOMMODATION
Refer to the tenancy schedule in the legal pack for individual floor areas and accommodation. Total NIA (exc. the residential block) is 739.55 sq m (7,955 sq ft).

Terminal Warehouse
Two-storey restaurant/bar and self-contained office/studio.
NIA is 336.21 sq m (3,619 sq ft).

Stable Block
Four single-storey terraced commercial units/studios.
NIA is 219.87 sq m (2,367 sq ft).

Knoll House
Two-storey office building arranged as two self-contained offices.
NIA is 183.47 sq m (1,969 sq ft).

Residential Block
Sold on a 999-year lease to Basin View Limited, on a peppercorn rent.

TENANCIES
A summary of the current tenancy position is below. Refer to the legal pack for a full copy of the tenancy schedule, any heads of terms and draft leases.
• Producing £119,620 per annum on completion
• Currently arranged as 8 Class E units
• 86% let by floor area
• Unit 1A Stables - New long lease is being finalised and is due to complete prior to the auction. Refer to the legal pack for further details
• Terminal Warehouse / Foxton Locks Inn Limited - New 15-year lease is being finalised and is due to complete prior to the auction. Refer to the legal pack for further details

SERVICE CHARGE
Refer to the legal park for the service charge budget/expenditure.

VAT
VAT is applicable

The property offers a number of exciting asset management opportunities, including re-gearing and letting vacant units to improve the income stream. The property may also offer development potential for a variety of uses (subject to the existing leases and obtaining the requisite consents).

Knight Frank have not measured the property or reviewed the tenancy agreements. This information has been provided by the vendor and interested parties are advised to review the legal pack, together with relying on their own enquiries.