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Retail Unit And Apartment , 1 The Square, Kenilworth, CV8 1EF

1,727 Sq Ft / Land

For Sale - £450,000.00

Under Offer - Last updated: 10 May 2019

1 The Square comprises an end of terraced mixed-use building. The building currently comprises a retail unit at ground floor and a two bedroom apartment at first floor with potential to develop further. The shop and flat are both accessed off doorways fronting Warwick Road.

The building is constructed of traditional brickwork with a pitched slate roof and has been extended to the rear.

The ground floor comprises a mainly open plan sales/office area to the front of the building with an additional four offices to the rear. In addition to this there is a kitchen/break out area, ladies and gents WC's, boiler room, storeroom and walk in safe from when the building was previously occupied as a bank.

The first floor comprises two good sized double bedrooms, sitting room, kitchen and bathroom. The apartment also benefits from access to the flat roof extension for fire escape purposes.
( Agency Pilot Software Ref: 364 )

Location

1 The Square is located in the heart of Kenilworth, at the top of Warwick Road in a prime retailing pitch. Kenilworth is an attractive market town with a population in excess of 22,400, with a good range of shopping and leisure facilities. Notable nearby occupiers include the Holiday Inn, The Almanac wine bar, Oxfam, Ego Mediterranean Restaurant and Bar, Coventry Building Society but to name a few.

The highly regarded town of Kenilworth is well situated being close to Birmingham, Coventry, Leamington Spa, Warwick and Stratford Upon Avon. The town has good road and rail links with access to the A46 approximately 4.6 miles away and Kenilworth station providing services to Birmingham, Coventry and Leamington Spa. The NEC and Birmingham International airport are within 12 miles of the town.

Accommodation

Ground Floor 1,125 sq.ft. (104.47 sq.m.)

Shop Front 73 sq.ft. (6.8 sq.m.)

First Floor 529 sq.ft. ( 49.13 sq.m.)

Terms

Planning Ground Floor - A1/A2 First Floor - C3 dwelling house

Services All mains services are connected to the building.

Tenure The subject property is to be sold freehold subject to an occupational lease on the ground floor to JDA Wealth held on an internal repairing basis, at a passing rent of £16,000 per annum, for a term expiring 15th September 2019. The tenant has exercised their break option and therefore this part of the building will become vacant from the expiry date. The flat is let subject to an Assured Shorthold Tenancy Agreement to a private individual at a current rent of £9,000 per annum. This is thought to expire late 2019.

Price We are inviting offers in the region of £425,000. We are advised that the property is not VAT elected.

EPC Ground Floor – TBC First Floor - TBC

Legal Costs Each party will meet their own legal costs associated with this transaction.

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £450,000.00 NA

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Jonathan Blood

EHB Reeves

01926 270581



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