A prominent block in Leicester city centre has gone onto the market for £1.9 million.
Norwich House has almost 19,000 sq ft of floor space across five floors and stands on the corner of Market Street and Horsefair Street.
It has three shop units occupied by picture specialists Max Spielman, Optical Express and Hidden Hearing, while GHC Capital Markets has offices in the building. There is also basement parking.
It is being sold by property developer and investor Scarborough Group International (SGI).
Slightly more than 4,000 sq ft of the office space is empty and Innes England, which is marketing the property on behalf of SGI, said the building generates an annual rental income of £136,001, which will rise to £154,501 in April.
A spokesman for the agents said: “Norwich House occupies a prime location fronting Horsefair Street, Bowling Green Street and Market Street – one of the main routes into the city centre from the professional office district with nearby retailers including McDonald’s, Royal Bank of Scotland and Caffe Nero.”
Innes England director Joe Reilly 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.”
Scarborough Group International is one of the UK’s biggest privately-owned, mixed-use property developers.
In the UK alone, it has delivered more than 6.3 million sq ft of commercial space and more than 1,400 residential units, valued at more than £4.5 billion, with a further £4 billion of new space in the pipeline.
In 2015 it decided to concentrate its primary efforts on supporting the Government’s Northern Powerhouse initiative, with core developments located across the Leeds, Manchester and Sheffield.
