FOR SALE BY AUCTION: Wednesday 26 May 2021 Commencing at 5:00pm

54 Gateway Street, Leicester, LE2 7DP

Sold under hammer for £760,000

Remote Bidding Auction

Auction to be streamed live on our website
Bidding via Internet | Telephone | Proxy
You will need to pre-register for remote bidding, the form can be downloaded from our website and found within our auction brochure. Please ensure you provide your identification and a complete remote bidding form no later than 24 hours prior to the auction. Please do not hesitate to contact us if you are unsure of the remote bidding process.


Freehold investment opportunity. Four storey student accommodation located within metres of De Montfort University. The property comprises of 16 rooms within a cluster format of four flats per floor.


The property is within walking distance of De Montfort University, University of Leicester, Leicester Royal Infirmary and Leicester City Centre. The location is perfect for students, hospital personnel or professionals due to it's very central location.


Communal entrance area
Ground Floor:
Four bedrooms, open living room and kitchen, communal bathroom and separate shower room.

First Floor
Four bedrooms, open living room and kitchen, communal bathroom and separate shower room.

Second Floor
Four bedrooms, open living room and kitchen, communal bathroom and separate shower room.

Third Floor
Four bedrooms, open living room and kitchen, communal bathroom and separate shower room.


Freehold with vacant possession upon completion. To include all fixtures and fittings.


The property has a current rental income from September 2020 to June 2021 at £360.00 per calendar month for each room.
Gross income: £5,760.00 per calendar month (£69,120.00 per annum exclusive).


The successful purchaser shall contribute £1,500.00 + VAT towards the sellers legal costs.
We have been informed that each floor has separate electric meters.
The completion date will be on or before eight weeks following exchange of contracts.


TML Solicitors

TEL: 0116 2470022


Definition of Guide Prices:
The guide price is an indication of the seller’s current minimum price expectation at auction and the guide price, or range of guide prices, is given to assist prospective purchasers. The guide price can be adjusted by the seller at any time up to the day of the auction in light of the interest shown during the marketing period and bidders will be notified of this change on our website and by the auctioneer prior to the lot being offered.

Definition of Reserve Price:
The reserve price is the seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. It is usual, but not always the case that a provisional reserve is agreed between the seller and the auctioneer at the start of marketing and the Final Reserve Price will be agreed between the auctioneer and the seller prior to the auction sale. Whilst the reserve price is confidential it will usually be set within the quoted guide range and in any event will not exceed the highest quoted guide price.

Buyer’s Fee / Additional Costs
For each Lot, a Buyers' Fee of £1,500.00 + VAT is payable on the fall of the hammer. Additional charges and fees might be charged by the seller and/or other third parties . You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees and to check the addendum which might also (but does not always) contain details of such amounts.

All measurements are approximate. Whilst we endeavour to make our sales particulars accurate and reliable, these approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before. Shonki Bros have not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances. Potential buyers are advised to recheck the measurements before committing to any expense. While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property. These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract. The matters referred to in these particulars should be independently verified by prospective buyers or tenants.