The property comprises a three storey Grade II Listed mid terrace period building which was converted to provide retail units on the ground floor. Separate access directly off the pavement leads to the office accommodation above where the subject suite is situated on the first floor.
The attached plan indicates the layout of the accommodation which is split either side of the communal landing with the larger section providing a reception lobby, two office areas, meeting room and private office and on the other side there is a large open plan office and private WC’s and kitchen for the exclusive use of the first floor occupier. The specification includes gas fired central heating, timber framed sash windows to the front and rear of the property and wall mounted voice and data ports throughout.
Location
The subject building is located in a section of Regent Street which runs in a one way direction from west to east between Bedford Street and Augusta Place on the south side of the road. Being situated in the heart of the town centre, all of the usual facilities are within a short walk including the surface level and multi storey car parks on Bedford Street and Russell Street respectively with pay and display time limited parking directly outside the subject building.
The premises are on the western side of Parade, the main retail location, which runs north to south and the immediate vicinity comprises period buildings which provide retail accommodation on the ground floor with offices, residential or storage on the upper parts. Leamington Spa Railway Station is within a 10 minute walk via Pump Room Gardens and the road network to the north and south of the town centre is within easy reach.
Accommodation
Ground Floor
An entrance directly off Regent Street leads to the offices on the upper floors with doorways either side of the landing into the offices which make up the subject suite.
First Floor
Reception lobby - 59 sq ft
Rear Office - 167 sq ft
Front Office / Meeting Room - 125 sq ft
Front Office - 404 sq ft
Rear Office / Meeting Room - 130 sq ft
Office - 262 sq ft
Kitchen - 39 sq ft
Gents WC
Ladies WC
TOTAL - 1186 sq ft
Terms
LEASE TERMS
The offices are held on a lease expiring 23rd June 2019 with rent review due in 2016 (no increase is expected). The offices are available by way of an assignment or on a sublease which will be outside the Security of Tenure provisions of the Landlord & Tenant Act 1954. The occupier is responsible for internal repairs, maintenance and decoration to the subject accommodation, and for contributing towards the service charge for the upkeep of the common parts and exterior of the building but no charges have been made in this respect in recent times. The combined cost of the contribution towards building insurance premium, water rates and electric for the communal areas was approximately £1120 for the last financial year with the occupier of the subject suite being responsible for their own gas and electricity charges in addition.
RENT
£10,000 per annum, exclusive of VAT, service charge, business rates and all other outgoings payable quarterly in advance.
VAT
VAT will not be payable on the rent but will be payable on the service charge.
BUSINESS RATES
Rateable Value £12,750
Rates Payable £ 6,146 (2014/15)
Specification
- Self-contained first floor suite
- Good mix of open plan offices plus meeting room and private office
- Good value at £8.43 psf (exclusive) and within 100m of prime retail area