The property comprises a two-storey mixed-use commercial and residential premises totalling approx. 4,866 sq. ft. on a site area of 0.25 acre.
The property is of traditional brick construction with part rendered elevations and uPVC double glazed windows, beneath a pitch tiled roof.
The ground floor provides two commercial units currently trading as an MOT/repair garage and car wash. Internally, the property provides workshop, offices, and ancillary accommodation.
Externally, there is a canopied tarmacadam forecourt to the front and concrete yard/carparking for approx. 10 vehicles to the rear.
There are 4 no. self-contained 2 bed flats to the first floor with resident access via Malmesbury Road and Beake Avenue.
Location
The property is located within the popular residential suburb of Keresley Heath approx. 2.5 miles north of Coventry City Centre. Coventry is one of the most populous cities within the UK and benefits from excellent connectivity by road, rail, and air.
The property is situated on Beake Avenue the main arterial road between Coventry City Centre and Junction 3 of the M6 to the north, less than 2 miles from the property.
The property occupies a prominent corner position at the junction of Beake Avenue and Malmesbury Road and forms part of the established Beake Avenue retail parade. There are several schools within walking distance including Parkgate Primary School, Holy Family Catholic Primary School, Whitmore Park Primary School and Cardinal Newman Catholic School. There is extensive retail, leisure, and food and beverage provision within the immediate area and a number of bus stops located immediately adjacent to the property, providing regular services into Coventry City Centre.
Accommodation
We understand the property provides the following gross internal areas:
Craftsmans Garage - 217 sq m (2,336 sq ft)
62 Malmesbury Road - 66 sq m (710 sq ft)
64 Malmesbury Road - 52 sq m (560 sq ft)
66 Malmesbury Road - 56 sq m (603 sq ft)
495 Beake Avenue - 61 sq m (657 sq ft)
Total - 452 sq m (4,866 sq ft)
Terms
Tenure - Freehold (Title no. WM54901).
Offers - Offers in the order of £650,000 for the freehold interest.
Tenancy - We understand the property is let on the folloowing basis:
MOT Garage - Rent pa - £21,000
Commercial Unit + Forecourt - Rent pa - £21,000
62 Malmesbury Road - Rent pa - 7,200
64 Malmesbury Road - Rent pa - £6,300
66 Malmesbury Road - Rent pa - £7,800
495 Beake Avenue - Rent pa - £6,300
Total - Rent pa - £69,600
Planning - We understand the property has consent for its existing use. Interested parties are to rely on their own enquiries.
Business Rates - The property is assessed as follows within the 23/24 Rating List:
Description: Vehicle repair workshop and premises
Local Council: Coventry
Rateable Value: £17,500
Rates Payable: £8,732.50
EPC - Copies of the EPC certificates are provided within the Marketing Pack.
Marketing Pack - A Marketing Pack containing additional property information is available upon request.
Services - We understand all mains services are connected but none have been tested. Interested parties should rely on their own enquiries.
VAT - Prices are quoted exclusive of VAT.
Costs - Each party to be responsible for their own professional costs incurred in the transaction.
Specification
- Prominent freehold mixed-use commercial and residential investment
- Located within popular residential suburb of Coventry on established retail parade
- Situated a short walk from various local amenities and schools
- Gross rental income of £69,600 p.a.x.
- Excellent asset management and rental uplift potential
- Offers in the order of £650,000