Commercial Property for sale

Market Hill, Southam

Sold STC £177,500

Property Description

Full description

Tenure: Freehold

LOCATION
SOUTHAM is an attractive south Warwickshire market town with a population of around 6,500 in a designated Conservation Area. The town is a commercial centre and has a range of shops, cafes, pubs, amenities and a regular market.

Situated on the River Stour, Southam is centrally located between the towns of Leamington Spa, approximately seven miles, and Rugby, approximately ten miles, with good transport links to the regional motorway network.

DESCRIPTION
10 Market Hill is prominently situated in the town centre and comprises a two-storey freehold retail and residential investment. The ground floor lock-up shop is currently let and run as a dry cleaning business. There is a separate staircase and entrance to a self-contained first floor one bedroom flat. The property is sold subject to the commercial occupational tenancy on the ground floor, with vacant possession of the flat.

ACCOMMODATION
Ground Floor Lock-Up Shop
with prominent display window, self contained with its own WC
Total Net Internal Retail Area 394 sq.ft. (36.60 sq.m.) approx.

First Floor Flat
Living Room/Kitchen, 24'4" into bay x 10'6" (7.42m into bay x 3.20m)with bay window overlooking Market Hill, having a range of fitted kitchen units including electric oven, grill and hob, drawers and base cupboards.
Double Bedroom, 10'5" x 9'3" (3.18m x 2.82m)
Shower Room with shower cubicle, electric shower and wash hand basin

SERVICES
Mains electricity and drainage are connected to the property. There is no gas. The flat has independent electric panel radiators. Electricity is separately metered for the ground floor shop and the first floor flat.

TERMS
The ground floor shop is let to Southam Dry Cleaners Ltd on an effective Full Repairing and Insuring Lease, which expires in May 2017. The current rent payable is £8,040 per annum. Under the terms of the lease, the tenant is obligated to pay a proportion of the building insurance and also a fair proportion of repair and maintenance of the whole building.

The flat is offered with vacant possession. This has previously been let on an Assured Shorthold Tenancy at a rent of £450 per calendar month.

The property is sold freehold, subject to the occupational tenancy on the ground floor.

OUTGOINGS
The Rateable Value of the retail property is understood to be £7,600. The first floor flat is currently in Council Tax Band A (Stratford on Avon District Council).

VAT
All prices and rents are quoted exclusive of VAT, which may be payable in addition. As far as we are aware, the vendor has not elected to charge VAT in respect of the rents.

VIEWING
Strictly by appointment with the Selling Agents and by arrangement with the ground floor tenant.

Peter Clarke & Co LLP
Stratford upon Avon
01789 415444


More information from this agent

Energy Performance Certificates (EPCs)

Nearest station

  • Leamington Spa (6.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Peter Clarke & Co, Stratford-Upon-Avon - Commercial

53 Henley Street, Stratford-Upon-Avon, CV37 6PT

01789 611050 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest station

  • Leamington Spa (6.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Peter Clarke & Co, Stratford-Upon-Avon - Commercial

53 Henley Street, Stratford-Upon-Avon, CV37 6PT

01789 611050 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 100569016717. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Peter Clarke & Co, Stratford-Upon-Avon - Commercial. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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