SOLD STC
38 The Parade, Leamington Spa, Warwickshire, CV32 4DN
Guide Price
£940,000
Business rates & charges may apply
- SIZE
Ask agent
- 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 McDonalds, Caf Nero, & Tesco.
- Attractive four story Regency property extending to 3,497 sq. ft. (325 sq m).
- Let to Tiger UK (Midlands) Limited on a renewed lease for a term of 3 years from 1/6/2024.
- Passing rent - £75,000 per annum.
- Guide Price: Offers based on £940,000, equating to a net initial yield of 7.55%, after usual purchaser's costs.
Description
For Sale by private treaty.
Offers in the region of £940,000 are sought. A purchase at this level would equate to a net initial yield of 7.55%, after usual purchaser's costs.
Freehold Town Centre Retail Investment Opportunity
The property comprises a prominent mid parade retail property trading as flying tiger copenhagen under their usual corporate fit out. It extends to 3,497 sq ft of ground floor retail space with ancillary accommodation above. There is access to the rear for deliveries via the service yard including residential, subject to obtaining the necessary consents.
Accommodation
3,497 sq. ft. (325 sq m ). IT has an ITZA area of 848.36 sq. ft.
Location
Royal Leamington Spa is a prosperous town in south Warwickshire, very well located being approximately 18 miles southeast of Central Birmingham and 30 minutes from Birmingham International Airport.
The town is in close proximity to the M40 (Junctions 13-15), providing rapid access to the Midlands Motorway Network. Leamington Spa additionally benefits from a high speed Chiltern Mainline Rail Services to Birmingham and London Marylebone, Birmingham International Airport is situated 19 miles northwest of the town centre and provides national and international flights to over 150 destinations. The airport is accessible via the A452/A45 with a journey time of approximately 45 minutes or via a direct train service in 23 minutes.
The property occupies a prime position along The Parade in the centre of Leamington Spa Town Centre, and nearby occupiers include Tesco, McDonalds, and Caf Nero.
Tenancy
The property is let in its entirety to Tiger UK ( Midlands) Limited on a renewed lease for a term of 3 years from 1/6/2024, expiring on 24/8/2027. The passing rent is £75,000 per annum.
Flying Tiger Copenhagen (formerly Tiger) is a Danish variety store chain that sells a variety of items, mostly accessories and toys. Its first shop opened in Copenhagen in 1995 and as of 2023, the chain now has 931 shops across 42 countries.
Its largest markets are Denmark, the UK, Italy, and Spain. According to the company's annual report, it had more than 93 million customers in 2023.
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 of Bond Wolfe has a vested interest in this property.
Offers in the region of £940,000 are sought. A purchase at this level would equate to a net initial yield of 7.55%, after usual purchaser's costs.
Freehold Town Centre Retail Investment Opportunity
The property comprises a prominent mid parade retail property trading as flying tiger copenhagen under their usual corporate fit out. It extends to 3,497 sq ft of ground floor retail space with ancillary accommodation above. There is access to the rear for deliveries via the service yard including residential, subject to obtaining the necessary consents.
Accommodation
3,497 sq. ft. (325 sq m ). IT has an ITZA area of 848.36 sq. ft.
Location
Royal Leamington Spa is a prosperous town in south Warwickshire, very well located being approximately 18 miles southeast of Central Birmingham and 30 minutes from Birmingham International Airport.
The town is in close proximity to the M40 (Junctions 13-15), providing rapid access to the Midlands Motorway Network. Leamington Spa additionally benefits from a high speed Chiltern Mainline Rail Services to Birmingham and London Marylebone, Birmingham International Airport is situated 19 miles northwest of the town centre and provides national and international flights to over 150 destinations. The airport is accessible via the A452/A45 with a journey time of approximately 45 minutes or via a direct train service in 23 minutes.
The property occupies a prime position along The Parade in the centre of Leamington Spa Town Centre, and nearby occupiers include Tesco, McDonalds, and Caf Nero.
Tenancy
The property is let in its entirety to Tiger UK ( Midlands) Limited on a renewed lease for a term of 3 years from 1/6/2024, expiring on 24/8/2027. The passing rent is £75,000 per annum.
Flying Tiger Copenhagen (formerly Tiger) is a Danish variety store chain that sells a variety of items, mostly accessories and toys. Its first shop opened in Copenhagen in 1995 and as of 2023, the chain now has 931 shops across 42 countries.
Its largest markets are Denmark, the UK, Italy, and Spain. According to the company's annual report, it had more than 93 million customers in 2023.
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 of Bond Wolfe has a vested interest in this property.
Energy Performance Certificates
EPC 138 The Parade, Leamington Spa, Warwickshire, CV32 4DN
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
Notes
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Disclaimer - Property reference 280265. 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 Bond Wolfe, Commercial Sales. 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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