SOLD STC
5 Church Street, Leamington Spa
Offers in Region of
£430,000
£579.51 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
742 sq ft
69 sq m
- SECTOR
High street retail property for sale
Key features
- Prominent Mixed Use Property With Return Frontage
- Class E Business & Commercial
- Newly Refurbished
- Spacious Residential Accommodation
- Gross Internal Area: 144.15m² (1,550ft²)
- Estimated Rental Value: £26,600p.a.
Description
A bright and light, freshly refurbished premises offered for sale as a mixed use freehold investment. It comprises a ground floor shop and separately accessed residential apartment.
Location - In the heart of Leamington's town centre. In close proximity to a mix of independent shops, cafes, and restaurants, offering everything from artisanal bread and pastries to vintage clothing and other local amenities. Within walking distance of Leamington Train Station allowing for superb access to Birmingham, London and other major destinations.
Accommodation - Commercial
Retail Sales - 54.92 m² (591ft²)
Kitchen - 1.29 m² (14ft²)
Basement - 37.49 m² (404ft²) - storage only
Total NIA - 93.7 m2 (1,009ft²)
Residential
Open Plan Kitchen - Living 23.22 m² (249ft²)
Kitchen - 5.54 m² (59ft²)
Bedroom - 9.02 m² (97ft²)
Bathroom - 4.84 m² (52ft²)
Storage - 1.68 m² (18ft²)
Loft Storage - 15.64 m² (168ft²)
Investment Summary - The Commercial demise is leased to ACDC Lettings Ltd on a 5-year term from 1st January 2024 with a tenant break clause at the anniversary of the second year. The Internal Repairing and Insuring lease has been granted outside of the Landlord and Tenant Act 1954 and achieves a passing rental of £14,000 per annum. A term of 999 years from 1st January 2018 (992 years remaining) remains on the Long Leasehold with a peppercorn ground rent.
It is estimated that the flat could achieve a passing rent of £12,600 per annum. A term of 189 years from 1st November 1990 (155 years remaining) remains on the Long Leasehold with a peppercorn Ground Rent.
ERV: £26,600
Services - It is understood that electric, water and foul water drainage connected to the property.
Business Rates - Rateable Value £5,500
The rates payable are calculated as a multiplier of the rateable value. If the rateable value is £12,000 or less, small businesses may be entitled to 100% rates relief providing the property is their only business premises. Any interested applicants should contact the local authority and verify the multiplier and check if any rates relief is available for their business.
Energy Performance Certificate - Commercial - Band E
Residential - TBC
Vat - The property is not elected for VAT.
Viewing - To discuss the property or to arrange a viewing please contact the commercial Team: option 3 or
Important Notes - We are required by HMRC to conduct anti-money laundering checks on all parties with an interest in the property and accordingly we will require forms of identification in due course. Particulars: These Particulars do not constitute an offer or contract and should not be relied upon as being factually accurate, the photographs show only part of the property and the areas, measurements and distances given are approximately only. A buyer or a lessee must make their own enquiries or inspections and should not solely rely on these Particulars or other statements by Sheldon Bosley Knight. VAT: The VAT position relating to the property may change without notice
Location - In the heart of Leamington's town centre. In close proximity to a mix of independent shops, cafes, and restaurants, offering everything from artisanal bread and pastries to vintage clothing and other local amenities. Within walking distance of Leamington Train Station allowing for superb access to Birmingham, London and other major destinations.
Accommodation - Commercial
Retail Sales - 54.92 m² (591ft²)
Kitchen - 1.29 m² (14ft²)
Basement - 37.49 m² (404ft²) - storage only
Total NIA - 93.7 m2 (1,009ft²)
Residential
Open Plan Kitchen - Living 23.22 m² (249ft²)
Kitchen - 5.54 m² (59ft²)
Bedroom - 9.02 m² (97ft²)
Bathroom - 4.84 m² (52ft²)
Storage - 1.68 m² (18ft²)
Loft Storage - 15.64 m² (168ft²)
Investment Summary - The Commercial demise is leased to ACDC Lettings Ltd on a 5-year term from 1st January 2024 with a tenant break clause at the anniversary of the second year. The Internal Repairing and Insuring lease has been granted outside of the Landlord and Tenant Act 1954 and achieves a passing rental of £14,000 per annum. A term of 999 years from 1st January 2018 (992 years remaining) remains on the Long Leasehold with a peppercorn ground rent.
It is estimated that the flat could achieve a passing rent of £12,600 per annum. A term of 189 years from 1st November 1990 (155 years remaining) remains on the Long Leasehold with a peppercorn Ground Rent.
ERV: £26,600
Services - It is understood that electric, water and foul water drainage connected to the property.
Business Rates - Rateable Value £5,500
The rates payable are calculated as a multiplier of the rateable value. If the rateable value is £12,000 or less, small businesses may be entitled to 100% rates relief providing the property is their only business premises. Any interested applicants should contact the local authority and verify the multiplier and check if any rates relief is available for their business.
Energy Performance Certificate - Commercial - Band E
Residential - TBC
Vat - The property is not elected for VAT.
Viewing - To discuss the property or to arrange a viewing please contact the commercial Team: option 3 or
Important Notes - We are required by HMRC to conduct anti-money laundering checks on all parties with an interest in the property and accordingly we will require forms of identification in due course. Particulars: These Particulars do not constitute an offer or contract and should not be relied upon as being factually accurate, the photographs show only part of the property and the areas, measurements and distances given are approximately only. A buyer or a lessee must make their own enquiries or inspections and should not solely rely on these Particulars or other statements by Sheldon Bosley Knight. VAT: The VAT position relating to the property may change without notice
Brochures
5 Church Street, Leamington Spa
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Leamington Spa Station0.2 miles
- Warwick Station2.1 miles
- Warwick Parkway Station3.4 miles
About Sheldon Bosley Knight, Warwickshire
35 -36 Rother Street Stratford Upon Avon Warwickshire CV37 6LPNotes
These notes are private, only you can see them.
Disclaimer - Property reference 33362533. 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 Sheldon Bosley Knight, Warwickshire. 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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