The property is a part one part two storey freehold investment property comprising tenanted hand car wash with retail counter, tenanted first floor residential flat, and vacant garage/workshop.
The property is of traditional brick construction beneath a part flat membrane and part pitched corrugated asbestos roof.
The canopied hand car wash is located on the corner of the B4666 Coventry Road and Marchant Road and has a concrete surfaced yard. There is a ground floor retail counter with part glazed frontage servicing the hand car wash.
The first floor flat is located above the retail counter and accessed via an independent uPVC door and staircase off Marchant Road.
The garage/workshop is located to the rear of the property and is orientated at a right angle to the hand car wash and retail counter. There is a roller shutter door accessed off Marchant Road providing vehicular access and a separate pedestrian access immediately adjacent.
Location
The property is located less than 0.5 mile from Hinckley town centre. Hinckley is located approx. 13 miles north east of Coventry and 14 miles south west of Leicester.
The property occupies a prominent and highly visible position on the main B4666 Coventry Road, which links the A5 Watling Street to the south and B4668 Leicester Road to the north. Junctions 1 and 2 of the M69 are approx. 3 miles from the property.
The immediate area comprises a mix of residential, trade counter, light industrial, retail and leisure property. The Coventry Road Lidl superstore is immediately opposite the property.
The site of the former Hinckley Leisure Centre is located to the rear of the property which has been earmarked for residential development. Planning permission was granted in 2018 for the erection of 66 apartments within two apartment blocks, and 7 houses.
Accommodation
We understand the property provides the following gross internal areas:
Petku - Retail Counter - 39.11 sq m (421 sq ft)
Garage/Workshop - 119.3 sq m (1,284 sq ft)
Residential Flat - 71 sq m (764 sq ft)
Total - 229.41 sq m (2,469 sq ft)
Terms
Offers - Offers in the order of £375,000 for the freehold interest.
Tenancy - We understand the property is let on the following basis:
Petku - Retail Counter - Rent pa - £21,000
Garage/Workshop - Vacant
Residential Flat - Rent pa - £5,940
Further tenancy information is included within the Marketing Pack.
Title - Freehold (Title no. LT131084).
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 for business rates purposes as follows:
Car Wash: £19,500
Workshop and Premises: £7,800
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
- Freehold investment property comprising tenanted hand car wash with retail counter, tenanted first floor residential flat, and vacant garage/workshop.
- Prominent roadside location on B4666 Coventry Road less than 0.5 mile from Hinckley town centre.
- Gross rental income of £26,940 p.a.x.
- Excellent asset management and redevelopment potential S.T.P.
- Offers in the order of £375,000