Hinck­ley £1.5m prop­erty in­vest­ment op­por­tu­nity

Leicester Mercury - - Hot House -

A huge prop­erty in the cen­tre of Hinck­ley is be­ing auc­tioned off for £1.5 mil­lion.

St George’s Court­yard, in Sta­tion Road, Hinck­ley, is go­ing un­der the ham­mer in SDL Auc­tions Gra­ham Penny’s Leices­ter sale on Thurs­day, Novem­ber 29. This unas­sum­ing build­ing, next to a den­tist, con­tains 14 apart­ments and all are fully re­fur­bished.

The auc­tion­eer says that as a rental in­vest­ment the prop­erty would give an es­ti­mated rental in­come of £100,000 per an­num.

Carl Finch, se­nior auc­tion val­uer at SDL Auc­tions Gra­ham Penny , said: “St Ge­orges Court­yard is an L-shaped build­ing orig­i­nally built in the 1960s that had grown tired and out­dated.

“The cur­rent own­ers have in­vested heav­ily in a to­tal ren­o­va­tion and mod­erni­sa­tion and this is now a fan­tas­tic in­vest­ment op­por­tu­nity for the bid­ders at our Novem­ber auc­tion.

“Each apart­ment has been fully re­fur­bished through­out to an ex­cel­lent stan­dard with mod­ern kitchens and bath­rooms, neu­tral dé­cor, floor­ing and un­der­floor heat­ing.

“All the apart­ments have park­ing and com­mu­nal grounds, and each apart­ment has its own en­trance and se­cure park­ing with elec­tric bar­rier.”

The prop­erty is of­fered with va­cant pos­ses­sion.

Carl added: “The de­vel­op­ment also of­fers the po­ten­tial for in­di­vid­ual re­sale of the apart­ments, and there­fore the new owner could re­tain the free­hold which would bring in an an­nual ground rent in­come of around £4,000 per an­num.”

St Ge­orges Court­yard is near the £60 mil­lion pound Cres­cent de­vel­op­ment where there are bars, restau­rants, shops, a mi­cro pub and a cin­ema.

Carl added: “The town is home to ma­jor busi­ness with a Tesco Dis­tri­bu­tion Cen­tre, Mira, Cen­trica and a DPD de­pot which create a huge num­ber of jobs and there­fore the rental de­mand in the town is ex­tremely high.

“This kind of in­vest­ment op­por­tu­nity that at­tracts not only in­ter­est from our reg­u­lar buy­ers in the Mid­lands, but also from the South East where this kind of value and po­ten­tial re­turn is hard to achieve at this price level.”

St Ge­orges Court­yard is in­cluded in the SDL Auc­tions Gra­ham Penny’s sale at the King Power Sta­dium.

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