499, Saffron Lane, LEICESTER, Leicestershire, LE2 6UQ

Description

A substantial freehold two-storey former Neighbourhood Area Housing Office extending to approximately 10,936 sq ft (1,016 sq m). The property benefits from planning permission for the conversion of the ground floor into three separate retail units (Class E use), whilst the first floor provides office/storage accommodation with kitchen and bathroom facilities. The property offers significant asset management, investment and development potential subject to any further consents required. Accommodation: Ground Floor: Former offices, reception, sales/storage areas, meeting rooms, kitchen facilities, WC accommodation and ancillary space. GIA: Approximately 508 sq m (5,468 sq ft) First Floor: Offices, storage rooms, kitchens, bathrooms and ancillary accommodation. GIA: Approximately 508 sq m (5,468 sq ft) Gross Internal Area: Approximately 1,016 sq m (10,936 sq ft) Outside: Forecourt, servicing areas and surrounding site land.

Location

The property is situated on Saffron Lane, Leicester, near its junctions with Gedge Way and Burgess Road. The property is located close to Saffron Health Practice and between Aylestone Leisure Centre and the Pork Pie Roundabout. Public transport links include Leicester Mainline Railway Station together with a network of local bus services serving the surrounding vicinity. Road links include the A426 Saffron Lane and A563 Leicester Ring Road. Shopping amenities can be found locally within Aylestone and Saffron Lane neighbourhood centre, with an extensive range of shops, bars and restaurants being found in Leicester City Centre. Recreational pursuits can be found locally at Aylestone Leisure Centre, Knighton Park and the wider open spaces surrounding the River Soar.

Investment Analysis

Investment Snapshot

Property & Refurbishment

Initial feasibility allowance: £15,000–£35,000. This is not a contractor quotation and should be confirmed following inspection and detailed scope.

Rental Analysis

No reliable auctioneer-published current rent was identified in the supplied scrape. Market rent should be independently verified before bidding.

GDV / Resale Analysis

No independent RICS/Land Registry comparable valuation has been inserted solely from the scraped auction data. End value should be confirmed against recent genuinely comparable transactions before bidding.

Properties Sold Within Approx. 5 Miles

No independently verified sold comparables are inserted from the auction scrape alone. Confirm recent Land Registry/RICS comparable evidence before relying on a GDV.

Investor Risks & Due Diligence

• Review the full legal pack and title before bidding

• Confirm all auction administration / contract charges

• Verify property condition and obtain appropriate surveys

• Confirm refurbishment costs with contractor quotations

Recommendation

Preferred strategy: Commercial Refurbishment / Re-Let. This recommendation is an initial appraisal based on the auctioneer's published property information and should be tested against the legal pack, inspection, finance and local market evidence.

Strategy Rating

Commercial Income: ★★★★☆

Development: ★★☆☆☆

Flip: ★★☆☆☆