City centre mixed-use building up for sale for £1.9m

Property developer and investor Scarborough Group International (SGI) has placed a mixed-use building in Leicester city centre up for sale with a price tag of £1.9m.

Spread over five floors, Norwich House extends to 18,694 sq ft, and includes three retail units over ground and first floor levels with office suites above, together with a secure basement car park.

Currently let to a range of occupiers, including Max Spielman, Optical Express, Hidden Hearing and GHC Capital Markets, with 4,157 sq ft of vacant accommodation across three office suites, the asset generates an annual rental income of £136,001 per annum, rising to £154,501 per annum in April.

Joe Reilly, associate director of Innes England, who is marketing the property on behalf of SGI, said: “This is an extremely rare city centre investment opportunity that presents the potential buyer with a combination of high-quality rental income and the ability to further drive rents and value in the short-term by letting the vacant space. As a result, we expect interest to be extremely high.”