106 Warwick Street comprises a 4-storey midterraced Regency building. With single- and two-storey rear extensions. The accommodation comprises a ground floor restaurant with kitchen and storage. The property also includes a spacious apartment over the upper two floors of the premises, accessed via a separate side entrance.
( Agency Pilot Software Ref: 403 )
Location
The subject property is located on Warwick Street, one of the best secondary shopping streets in the centre of Leamington Spa. It is located close to the junction of Park Street and the Royal Priors Shopping Centre. Neighbouring tenants include Subway, Pizza Hut, and Ladbrokes.
Accommodation
Restaurant Ground floor restaurant and storage: 1,264 Sq Ft (117.4 Sqm) overall.
Apartment First Floor: 589 Sq Ft (54.7 Sqm) Comprises three reception rooms, fully fitted kitchen, separate w/c, shower room.
Second Floor: 548 Sq Ft (50.9 Sqm) Comprises a family bathroom, separate shower room, and 4 bedrooms.
Terms
Services Separate mains electricity, water, gas, and drainage supplies are connected.
Planning A3, C3c
EPC Ground Floor Restaurant C 75 First and Second Floor Residential F 30
Tenure The property is to be sold freehold, The ground floor retail unit is leased to Libertine Burger Holdings Ltd, subject to a lease term expiring on the 13th December 2025. The annual rent passing is £22,500 p.a. (excl) subject to rent review on 14th December 2020. The first and second floor are vacant with a potential rental rental of £16,800 p.a. (excl).
Price £535,000 (VAT is not applicable) for the freehold interest subject to the ground floor restaurant lease and vacant apartment.
Rates Shop: Rateable Value is £19,250 for the current year. Apartment: Council Tax Band D
Legal Costs Each party will be responsible for their own legal costs incurred in this transaction.
Specification
- Investment Potential of £39,300 p.a (excl)
- Ground Floor Restaurant Investment
- 4 Bed and 3 Rec Residential on the First and Second Floors (Vacant)
- Busy Town Centre Location