52 Parade, Leamington Spa, Warwickshire, CV32 4DD
FOR SALE BY AUCTION 14TH DECEMBER 2022 - EXTERNAL VIEWINGS ONLY - Prominent freehold retail investment opportunity
- Prominent freehold retail investment opportunity
- Located in Prime Trading Position close to Marks & Spencer and H&M
- Future potential for conversion of upper floors (subject to planning permission)
- Currently let to Haberdashery Fabrics Ltd on a lease expiring 24 February 2026
- Passing rent - £30,000 per annum.
- Guide price - £475,000+ - Net initial yield of 6.04%
LocationRoyal Leamington Spa is an affluent spa town in the county of Warwickshire. The town is located approximately 3 miles east of Warwick, 10 miles south of Coventry and 20 miles south east of Birmingham. Royal Leamington Spa benefits from excellent road communications with direct access to the M40 (Junctions 13, 14 and 15). The M6, to the north (Junction 3) and the M1, to the east (Junctions 16 and 17), are also within easy reach. The town’s National Rail station provides direct services to Oxford (35 minutes), Birmingham (Moor Street, New Street, Snow Hill and International stations: 35 minutes, or less) and London (Marylebone and Euston: 1 hour and 20 minutes). Birmingham Airport is located approximately 16 miles north west of the town, offering a wide variety of domestic and international flights.
The subject property comprises an attractive four storey, mid terraced building of Regency architecture, providing a total of approximately 1,945 Sq Ft.
The property is currently arranged to provide retail accommodation on the ground floor with ancillary office, storage and staff accommodation located on the First and
Second floor. The third floor is currently separated off and has not been included
within our measurements.
AccommodationGround floor - 911 sq ft/84.63 sq m
First floor - 846 sq ft/78.60 sq m
Second floor - 170 sq ft/15.79 sq m
Third floor - Not measured
Total - 1,945 sq ft/180.70 sq m
PriceGuide price - £475,000 plus.
TenancyThe property is to be sold subject to an occupational lease to Haberdashery & Fabrics Ltd on a full repairing and insuring lease until 24th February 2026, at a passing rental of £30,000 per annum.
VATWe are advised that VAT is payable, although it is anticipated that the transaction will be dealt with by way of a TOGC.
EPCAvailable upon request.
Legal CostsEach party is to be responsible for their own legal costs that may be incurred in this transaction.
Anti Money LaunderingIn accordance with anti-money laundering regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.
Additional InformationEXTERNAL VIEWINGS ONLY.
7, 8 & 9 Lunn Poly House, Leamington Spa, Warwickshire, CV32 5PP
Investment, Retail For Sale
Offers in the region of £545,000