37 Regent Street, Rugby, Warwickshire, CV21

Freehold investment opportunity for three storey property with busy high street retail and commercial units (1,523 sq.ft total)

Description

The property comprises a three storey, mid terrace building with a ground floor retail unit and office accommodation over first and second floor levels with potential for residential conversion. In addition, there is a rear commercial unit (37B) which can be accessed via a passageway off Regent Street.

The Property provides the following approximate NIA:

Ground Floor SQ.M SQ.FT
Retail Area 29.74 320
Rear Office 12.63 136
Rear Kitchen 13.12 141
Total: 55.50 597

First Floor
Office 1 34.57 372
Office 2 10.41 112
Kitchen 7.10 76
Total: 52.09 561

Second Floor
Office 1 9.23 99
Office 2 12.51 135
Office 3 8.83 95
Store 3.36 36
Total: 33.93 365

TOTAL 141.52 1523

The Property fronts Regent Street in the popular independent quarter of Rugby Town Centre. Local amenities
including car parks, theatre and the Town Hall are in the immediate vicinity. Rugby is an expanding market town situated close to the East / West Midlands border and strategically located for a number of major routes including the M1 and the M6 motorways. Rugby Train Station is conveniently located less than a mile away with direct trains to London Euston in just 47 minutes.

Available for sale, on a freehold basis subject to the existing tenancies:
The ground retail unit is let on a 3-year term from 1st February 2024 at £13,000 per annum;
The rear retail unit (37B) is let on a 3-year term from 1st February 2024 at £5,460 per annum;
The first and second floor offices are let on a 1 year term from 1st March 2024 at £2,400 per annum.
Therefore, producing a total rent of £20,860 per annum exclusive

Price

Offers are sought with a guide price of £335,000

We understand that mains water, electricity & drainage are connected to the premises.
We would advise interested parties to undertake their own enquiries as to the adequacy and condition of these services, which have not been tested or verified by Howkins and Harrison LLP.

EPC

EPC's will be available on completion of the sale.

Planning

We understand that the premises have planning permission for Class E Use but would be suitable for other uses subject to planning. We recommend interested parties make their own enquiries to the Planning Department of Rugby Borough Council.


Viewings

Strictly by prior appointment with Sole agents Howkins & Harrison LLP.
Please contact the Commercial Department on .