Summary
Specification Includes:
Self-contained, ground floor, lock-up shop which currently trades as a café.
Shop width 4.62m x 11.51m with a floor to ceiling height of 2.95m.
Rear of property comprises, kitchenette & WC.
Rear pedestrian access.
The property has a single glazed shop front window set withing a timber frame.
Internally, the property benefits from wooden flooring, a mixture of pendent and spot lighting. Other F&F may be available by way of separate negotiation.
Key Points
Available to purchase Long LeaseholdReflective of net yield of 8.6%Prominent Town Centre LocationHigh footfallOn road Pay & Display Parking
Tenure
The property is subject to an occupational tenancy at a rent of £22,000 per annum for a term of 5 years with break and rent review in year 3.
Offers are invited at £250,000 exclusive which is reflective of an 8.6% net yield after purchaser’s costs of 2.3%.
Services
We understand that mains electricity, water and drainage are connected to the site however, interested parties are advised to satisfy themselves that this is the case and that they are in good working order. The agents have not tested any apparatus on site and therefore, cannot verify the conditions.
Business Rates
Rateable Value: £13,250 (2023 Rating List)
Subject to occupational status, it is envisaged occupiers may benefit from some Small Business Rates Relief.
EPC
B38 - A copy can be made available upon request.
Location
The property is located on Regent Street situated between the intersections of Park Street and Kenilworth Street.
The unit is situated right in the heart of the town centre, a short walk from the Parade, the town’s primary retail pitch and adjacent to the entrance to Regent Court, the town’s main restaurant quarter. Nearby tenants include Taverna Meraki, Giggling Squid, Café Nero, Jojo Mama, Bang & Olufsen and Farrow & Ball.
There is Pay & Display parking directly outside the property on Regent Street which extends to Regent Grove and Park Street, as well as the Royal Priors multi-storey car park (450 spaces).