Commercial Property for saleWarwick Street, Leamington Spa, Warwickshire, CV32
Removed 1,589 sq. ft. | £650,000
- 1,589 sq ft (147 sq m)
- Town Centre Retail/Residential Investment Opportunity
- Well located town centre retail/residential investment let to Meatcure.
- Current passing rent £40,000 per annum rising to £55,000 per annum.
- Offers in excess of £650,000.
- Net initial yield of 5.85% (after purchasers costs) rising to 8.04%.
The subject premises comprise a three storey block with limited basement area with restaurant on the ground floor and two residential apartments sold off on long leasehold interest on the upper floors. Also included within the sale is ground floor premises currently occupied as a gents hairdressers again sold off on a long leasehold basis.
The ground floor premises have been occupied as a restaurant for many years and have been recently taken over by Meatcure an award winning chain who are currently
on an aggressive expansion trail.
The entire freehold of the building is available to include ground floor of 50a Warwick Street (let as a gents hairdressers) and the two residential apartments on the upper floors although no ground rent is payable and they have been sold on 999 year long leasehold interest. A full service charge regime is in place to cover external
maintenance and repair of common areas.
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