57 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 1,097 sq.ft. (101.95 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 specialty shopping. Notable nearby occupiers include Café Nero, Esquires, Greene King, Oliver Bonas, Oxfam, and Tesco.

Accommodation

The property extends to 1,097 sq.ft. (101.95 sq.m) over ground and upper floors.

Tenure

Freehold - Subject to existing tenancy.

Tenancy

The entire property is let to Oxfam for a term of 5 years from 25/12/2020, expiring 24/12/2025, The passing rent is a very conservative £15,000 per annum providing excellent potential for uplift upon reversion, to in excess of £20,000 per annum.

TENANT PROFILE -
Oxfam was set up in 1942 and is a development, relief and campaigning
organization and part of Oxfam International (www.oxfam.org.uk). In the UK, they currently operate from around 600 stores.

Price

Offers in the region of £295,000 are sought. A purchase at this level would equate to a net initial yield of 4.93% , and a reversionary yield of 6.57%, after usual purchaser’s costs.

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.