55 Warwick Street, Leamington Spa, Warwickshire, CV32 5JR
£334.19 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
1,167 sq ft
108 sq m
- SECTOR
High street retail property for sale
Key features
- Prominent retail investment opportunity.
- Royal Leamington Spa is an affluent spa town, with attractive Regency architecture.
- Located in prime trading position close to Caf Nero, Oxfam & Tesco.
- Let to CT Health Tourism LTD ( trading as Turkish Barbers Club) for a term of 15 years, expiring 23rd November 2031, with no break clauses.
- Current Gross Income - £28,000 per annum.
- Guide Price - £390,000, equating to a net initial yield of 6.9% , after purchasers cost of 4.11%.
Description
Offers in the region of £390,000 are sought. A purchase at this level would equate to a net initial yield of 6.9%, based per annum after purchasers costs of 4.11%.
Freehold Town Centre Retail Investment Opportunity
The property comprises a Freehold two story grade II listed property affording ground floor retail accommodation with ancillary areas above. The property extends to 1,167 sq.ft. (108.45 sq.m).
Accommodation
The property extends to 1,167 sq.ft. (108.45 sq.m).
Location
The property is situated on the popular retailing pitch of Warwick Street, right in the heart of Leamington Spa town centre and a short distance from The Parade (the town's primary retailing pitch). 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 southeast of Birmingham.
The town provides an attractive retail environment, comprising Regency and Victorian architecture set along wide, boulevard style streets. The town boasts a wide range of major national retailers as well as high end boutique style retailers and strong independent provision for both fashion and speciality shopping. Notable nearby occupiers include Caf Nero, Esquires, Green King, Oliver Bonas, Oxfam, and Tesco.
Tenure
Freehold Subject to the existing tenancy.
Tenancy
The entire property is let to CT Health Tourism LTD (trading as Turkish Barbers Club) for a term of 15 years from 24th November 2016, expiring 23rd November 2031, with no break clauses. The passing rent is £28,000 per annum and we are advised that there is a rent review at 24th November 2026.
Tenant Profile
Turkish Barbers Club is considered one of the best and most popular barber shops in Royal
Leamington Spa, United Kingdom. The barbershop is located on 55 Warwick Street, Leamington Spa and is rated 4.6 out of 5 stars by 245 unique and verified visitors.
VAT
We are advised that VAT is payable, although it is anticipated that the transaction will be dealt with by way of a TOGC.
EPC
Available upon request
Legal Costs
Each party is to be responsible for their own legal costs that may be incurred in this
transaction.
Anti Money Laundering
In accordance with anti-money laundering regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.
Disclaimer
A director at Bond Wolfe has a vested interest in this property.
Brochures
55 Warwick Street, Leamington Spa, Warwickshire, CV32 5JR
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Leamington Spa Station0.5 miles
- Warwick Station2.0 miles
- Warwick Parkway Station3.2 miles
About Bond Wolfe, Commercial Sales
1st Floor 75-77 Colmore Row Birmingham B3 2AP
Bond Wolfe is a multi-disciplined property business specialising in property Auctions and property Agency with our head office based in Birmingham. Many of our highly experienced and dedicated team have been with the business for over 30 years.
We are truly proud of our Midlands roots and honoured to have represented the region since 1983. We also act for many clients across the UK and overseas too. Bond Wolfe has a great track record of selling, letting and managing property up and dow
Notes
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