53-57 Parade, Leamington Spa, Warwickshire, CV32 4BA
Guide Price
£2,100,000
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Commercial property for sale
Key features
- The property is situated in the centre of Royal Leamington Spa's prime pitch, on Parade.
- Three attractive Regency buildings provide retail, ancillary and office accommodation.
- Approximately 10,228 sq. ft (950.2 sq. m) NIA, arranged over basement, ground and three upper floors.
- Potential for future conversion of upper floors to residential (subject to consent).
- Fully let to four tenants, with 58% of the total current rental income secured against Telefonica UK Limited t/a O2 and Toni & Guy (South) Limited t/a Toni & Guy (with Mascolo Limited as Guarantor).
- Total current rental income of £114,500 per annum exclusive.
- Strong Asset Management Potential.
- Freehold
- Guide Price - £2,100,000
Description
For Sale by private treaty.
Offers in the region of £2,100,000 are sought for the Freehold interest, subject to the existing tenancies.
Prime Retail And Office Investment Opportunity With Asset Management & Development Potential
The property comprises three, adjoining, Regency buildings, providing retail, ancillary and office accommodation, arranged over basement, ground and three upper floors. The attractive faade includes anthemion decoration, twelve Tuscan-style pilasters, large sash windows and a continuous balcony, projecting over Roman Doric-style porches. There is a service yard located to the rear of the property.
The property provides 10,228 sq. ft (950.2 sq. m) of accommodation (NIA). A precise floor area breakdown for the retail, ancillary and office accommodation can be found in the tenancy and accommodation schedule.
The property is Grade II listed and lies within the Leamington Spa Conservation Area.
The local planning authority is Warwick District Council.
Location
Royal Leamington Spa is an affluent spa town in the county of Warwickshire, originally renowned for the medicinal properties of its water. The town is located approximately 3 miles east of Warwick, 10 miles south of Coventry and 20 miles southeast of Birmingham.
Royal Leamington Spa benefits from excellent road communications with direct access to the M40 (Junctions 13, 14 and 15). The M6, to the north (Junction 3) and the M1, to the east (Junctions 16 and 17), are also within easy reach. The town's National Rail station provides direct services to Oxford (35 minutes), Birmingham (Moor Street, New Street, Snow Hill and International stations: 35 minutes, or less) and London (Marylebone and Euston: 1 hour and
20 minutes). Birmingham Airport is located approximately 16 miles northwest of the town, offering a wide variety of domestic and international flights.
Planning
The upper floors of the property, comprising office and ancillary retail accommodation, present a compelling conversion opportunity, subject to obtaining necessary consents.
Indicative floor plans for a proposed residential conversion scheme are available on request.
Tenancy
Please see tenancy schedule outlined in the detailed brochure.
VAT
We are advised that VAT is applicable to the purchase price, although the sale is likely to be treated as 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 £2,100,000 are sought for the Freehold interest, subject to the existing tenancies.
Prime Retail And Office Investment Opportunity With Asset Management & Development Potential
The property comprises three, adjoining, Regency buildings, providing retail, ancillary and office accommodation, arranged over basement, ground and three upper floors. The attractive faade includes anthemion decoration, twelve Tuscan-style pilasters, large sash windows and a continuous balcony, projecting over Roman Doric-style porches. There is a service yard located to the rear of the property.
The property provides 10,228 sq. ft (950.2 sq. m) of accommodation (NIA). A precise floor area breakdown for the retail, ancillary and office accommodation can be found in the tenancy and accommodation schedule.
The property is Grade II listed and lies within the Leamington Spa Conservation Area.
The local planning authority is Warwick District Council.
Location
Royal Leamington Spa is an affluent spa town in the county of Warwickshire, originally renowned for the medicinal properties of its water. The town is located approximately 3 miles east of Warwick, 10 miles south of Coventry and 20 miles southeast of Birmingham.
Royal Leamington Spa benefits from excellent road communications with direct access to the M40 (Junctions 13, 14 and 15). The M6, to the north (Junction 3) and the M1, to the east (Junctions 16 and 17), are also within easy reach. The town's National Rail station provides direct services to Oxford (35 minutes), Birmingham (Moor Street, New Street, Snow Hill and International stations: 35 minutes, or less) and London (Marylebone and Euston: 1 hour and
20 minutes). Birmingham Airport is located approximately 16 miles northwest of the town, offering a wide variety of domestic and international flights.
Planning
The upper floors of the property, comprising office and ancillary retail accommodation, present a compelling conversion opportunity, subject to obtaining necessary consents.
Indicative floor plans for a proposed residential conversion scheme are available on request.
Tenancy
Please see tenancy schedule outlined in the detailed brochure.
VAT
We are advised that VAT is applicable to the purchase price, although the sale is likely to be treated as 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.
Brochures
53-57 Parade, Leamington Spa, Warwickshire, CV32 4BA
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Leamington Spa Station0.4 miles
- Warwick Station2.0 miles
- Warwick Parkway Station3.3 miles
Notes
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Disclaimer - Property reference 294284. 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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