Summary - 99A, KNIGHTON FIELDS ROAD WEST LE2 6LH
1 bed 1 bath Light Industrial
Value-add property with parking and strong post-refurb rental potential.
Large workshop with 3.0–3.8m eaves and three-phase electrics
A substantial mixed-use property in Leicester combining a vacant former joiner’s workshop with three one-bedroom flats. The workshop offers generous open-plan space, 3.0–3.8m eaves, three-phase electrics and concrete floor — suitable for light industrial use or conversion subject to permissions. A block-paved forecourt provides off-street parking for up to three vehicles.
The three flats are independently serviced, currently vacant and in need of refurbishment; the vendor’s estimated residential ERV is £21,000 PA (overall) with an attributable workshop ERV of approximately £15,000 PA and a gross ERV of £36,000 PA (quoted 10.3% GIY at asking price). Refurbishing the flats is expected to achieve about £650 pcm per unit.
This is a clear value-add asset for an investor or owner-operator prepared to complete refurbishment and let-up or reconfigure the workshop. Key technical benefits include gas heating and three-phase power already installed in the workshop.
Material considerations: the building requires renovation throughout, sits in an area with higher crime and deprivation levels, and has a medium flood risk. Prospective buyers should factor refurbishment costs, potential change-of-use or planning constraints, and local area challenges into purchase plans.
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