Leicester Mercury

Hinckley £1.5m property investment opportunit­y

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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Penny , said: “St Georges Courtyard is an L-shaped building originally built in the 1960s that had grown tired and outdated.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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