22 Bridge Street, Stratford-upon-Avon, Warwickshire, CV37 6AG

For Sale by private treaty.

Offers in excess of £1,550,000 are sought for the Freehold interest. A purchase at this level would reflect a net initial yield of 7%, after purchasers' costs of 5.82%

Prime town centre retail investment opportunity

The property comprises an attractive and prominently positioned Grade II Listed, three-storey building, occupying a high-profile corner position with dual frontages to Bridge Street and Union Street.
The building is of traditional stone masonry construction, featuring an attractive and detailed period faade beneath a combination of pitched and flat roofs. A secondary entrance is provided from Union Street, enhancing access and circulation throughout the building.
Internally, the accommodation is arranged over basement, ground, first and second floors. The ground floor provides an impressive open-plan former banking hall, with passenger lifts and staircases serving the upper floors. The first floor comprises a series of meeting rooms, whilst the second floor provides predominantly open-plan office accommodation together with storage and staff welfare facilities.
The basement provides extensive ancillary accommodation, including a strongroom, plant room and a range of storage areas.
The upper floors benefit from separate access from Union Street, providing flexibility for future occupation or alternative use, subject to the necessary consents.

Location
Stratford-upon-Avon is an affluent and internationally renowned market town, strategically located on the banks of the River Avon and approximately 25 miles south of Birmingham.
The town benefits from excellent road and rail connectivity, with the A46 providing access to the M40 and wider motorway network.
Stratford-upon-Avon and Stratford-upon-Avon Parkway stations offer regular services to key regional centres, including Leamington Spa, Birmingham, and Worcester, with London
Marylebone accessible in approximately 2 hours 16 minutes.
Birmingham Airport is approximately 28 miles away, providing a comprehensive range of domestic and international flights.
The town has a growing population of over 30,000 and a wider district population of 146,000.
The town has over 800 years of history and is the birthplace of William Shakespeare which is one of the main factors in the 2.5 million tourists that visit annually. The world renowned Royal Shakespeare Theatre is located in the centre of the town on the banks of the River Avon.

Tenure
Freehold, subject to the existing tenancy.

Planning
Given the separate access to the upper floors and their generous floor-to-ceiling heights, we are of the opinion that the building offers potential for conversion to residential use, subject to working within the relevant constraints and gaining the necessary consents.

Tenancy
The property is let in its entirety to Lloyds Bank Plc on a full repairing an insuring reversionary lease for a term expiring 28/09/2029. The rebased passing rent is £115,000 per annum exclusive, equating to £85 ITZA.
Lloyds operates as a full service branch in Stratford Upon Avon, which as a town, continues to retain a strong representation of major banking institutions including Barclays, HSBC and Nationwide.

VAT
The property is not elected for VAT; therefore, no VAT will be payable.

EPC
The property has an EPC Rating of B. The EPC certificate is 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
Under HMRC and RICS regulations in addition to the Criminal Finances Act 2017, as property agents facilitating transactions, we are obliged to undertake anti money laundering due diligence for both the vendors (our client) and the purchasers involved in a transaction. As such, personal and or detailed financial and corporate information will be required before an offer can be accepted and a transaction can commence.