1-bedroom studio · LE1 1AF
For saleReduced £5k (−5.3%) on 6 FebListed 544 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
A superb ground floor studio apartment located in this iconic former chapel in the heart of Leicester's thriving cultural centre.
Location - The Cherub Building Building has been a landmark of Leicester for most of the last century. Recently converted into eleven apartments set right in the heart of the Cultural Quarter.
Within walking distance of the Curve Theatre and a host of stylish bars, restaurants and the new Highcross shopping centre.
The Cherub Building is located within easy walking distance of the city centre, professional quarters and mainline railway station with access into London St Pancras in just over an hour.
Accommodation - A communal entrance hall houses an intercom system.
The apartment itself is entered via a private entrance hall a solid wood front door with a feature light, an electric storage heater and wooden flooring.
The shower room has a glazed shower enclosure, a pedestal wash hand basin and an enclosed WC, halogen down spotlights, an electric shaver point, electric storage heater, part tiled walls and tiled floor.
The open plan living/bedroom/kitchen area has feature lighting and wooden flooring throughout, a window to the side elevation overlooking the greenery of St George’s churchyard, and three electric storage heaters.
The living/bedroom area has built-in cupboards and steps upto the contemporary kitchen area which boasts a good range of eye and base level units and drawers, ample granite preparation surfaces, an undermounted stainless steel sink with chrome mixer tap above, an integrated four-ring Neff hob with stainless steel oven beneath, integrated fridge-freezer, space and plumbing for an automatic washing machine.
Lease Information: - Whilst we make every effort to ensure these are correct, they are subject to change, are not to be relied upon & MUST be verified by potential Purchaser's Solicitor.
Tenure: Leasehold. Lease Term: 999 years from 2010. Ground Rent: None payable. All Leaseholders are members of the Colton Street Management Company Ltd and therefore jointly own the Freehold.
Service charge : £960 per annum Buildings Insurance £194 per annum Management : Butlins Tenure & Council Tax - Local Authority: Leicester City Council Tax Band: A.
Other Information - Listed Status: None. Conservation Area: St George’s. Services: Offered to the market with all mains services and electric heating. Broadband delivered to the property: Unknown.
Wayleaves, Rights of Way & Covenants: None out of the ordinary for an apartment block. Accessibility: There are steps to access the apartment. Planning issues: None our Clients are Aware of.
Cladding: The vendor informs us that there is no cladding in this building.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About The Cherub Building, Colton Street, Leicester
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