52 Parade, Leamington Spa, Warwickshire, CV32 4DD

A retail Investment property in Leamington Spa, Warks.

Guide price*

£475,000+

Plus fees

Sold prior to auction for an undisclosed amount.

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Lot 63 Commercial Investment
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Auction details:

Wednesday 14th December 2022 @ 09:00AM

Live-streamed auction, you must pre-register to bid via our website with remote bidding online, by telephone or proxy

A Freehold Retail Investment Premises Current Gross Income: £30,000 pa.

Property Description

The property comprises an attractive four storey, mid-terraced building of Regency architecture, with a site area of 1,945 sq.ft. The property is currently arranged to provide retail accommodation on the ground floor with ancillary office, storage, with staff accommodation located on the first and second floors. The third floor is currently partitioned off and has not been included within our measurements. Although the property is not a Listed building, it is however located within the Leamington Spa Conservation Area.

Location

Royal Leamington Spa is an attractive and affluent spa town located in the heart of Warwickshire, approximately 2 miles east of Warwick, 8 miles South of Coventry and 18 miles south east of Birmingham. Royal Leamingotn Spa is strategically located and benefits from excellent transport links having direct access to the M40 Motorway, via Junctions 13 &14.
The property occupies a prominent location on The Parade, Leamington Spa's primary retailing pitch, close to the junction of Warwick Street.
There is direct train services to London Marylebone, Birmingham Moor Street and New Street, as well as a direct train service to Birmingham International Airport, offering a wide range of domestic and international flight services.

Energy Performance Rating

E.

Tenure

Freehold – Subject to the existing tenancy.

Tenancy Details

The 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.

Value Added Tax

We are advised that VAT is payable, although it is anticipated that the transaction will be dealt with by way of a TOGC.

Auctioneer's Note

A Director of Bond Wolfe has a vested interest in this lot.

Please note offers may be considered prior to the Auction Sale.

Remote Bidding Auction

This property is being offered via a remote bidding auction with bidding by proxy, telephone or internet only. You will need to pre-register for remote bidding, provide your identification and debit card details no later than 24 hours prior to the auction, please visit our website for further details.

Viewings

External Viewings Only.

Accommodation

Sq.m. Sq.Ft.
Ground Floor 84.63 911
First Floor 78.60 846
Second Floor 15.79 170
Third Floor
Total 180.70 1,945
DISCLAIMER

Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and all potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.

LIVE-STREAMED AUCTION

Please note that the Auction will be livestreamed via our website.  You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction. Please click here for further details.

*DEFINITION OF GUIDE & RESERVE PRICE

All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.

COSTS AT AUCTION

When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding.  They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.

The sale of each lot is subject to an administration fee of £1,680 inc VAT (£1,400.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction.  Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.

Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the ‘lot information’.  Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.

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