55 Warwick Street, Leamington Spa, Warwickshire, CV32 5JR

Description

The property comprises a Freehold two story grade II listed property affording ground floor retail accommodation with ancillary areas above. The property extends to 1,167 sq.ft. (108.45 sq.m).

Location

The property is situated on the popular retailing pitch of Warwick Street, right in the heart of Leamington Spa town centre and a short distance from The Parade (the town’s primary retailing pitch). Royal Leamington Spa is an attractive and affluent Spa town located in the heart of Warwickshire, approximately 2 miles east of Warwick, 8 miles South of Coventry and 18 miles southeast of Birmingham. The town provides an attractive retail environment, comprising Regency and Victorian architecture set along wide, boulevard style streets. The town boasts a wide range of major national retailers as well as high end boutique style retailers and strong independent provision for both fashion and speciality shopping. Notable nearby occupiers include Café Nero, Esquires, Green King, Oliver Bonas, Oxfam, and Tesco.

Accommodation

The property extends to 1,167 sq.ft. (108.45 sq.m).

Tenure

Freehold – Subject to the existing tenancy.

Tenancy

The entire property is let to CT Health Tourism LTD (trading as Turkish Barbers Club) for a term of 15 years from 24th November 2016, expiring 23rd November 2031, with no break clauses. The passing rent is £28,000 per annum and we are advised that there is a rent review at 24th November 2026.

Tenant Profile
Turkish Barbers Club is considered one of the best and most popular barber shops in Royal
Leamington Spa, United Kingdom. The barbershop is located on 55 Warwick Street, Leamington Spa and is rated 4.6 out of 5 stars by 245 unique and verified visitors.

Price

Offers in the region of £390,000 are sought. A purchase at this level would equate to a net initial yield of 6.9%, based per annum after purchasers costs of 4.11%.

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 at Bond Wolfe has a vested interest in this property.