117 and 119 Regent Street, Leamington Spa, CV32 4NU

Description



Town Centre Freehold Retail and Residential Investment



Location



Regent Street is located in the heart of Leamington Spa, bisecting the prime retailing location known as the Parade. The site is identified on the attached street map. This popular secondary retailing zone is serviced by on-street and multiple car parks, excellent public transport, and is a short walk from many local amenities including the famous parks and gardens of Leamington Spa.



Services



All mains services are connected to the properties and are independent to each unit.



Tenure



Subject to two freehold Titles.



Rent



Price
Freehold price: £1,340,000.

117 Regent Street
Tenant: The Danish Wardrobe Company Limited
Lease for a term to expire on the 7th January 2029
Rent: £35,000 per annum
Rent review: 8th January 2024
Break Clause: No break clause
Repairing Liability: The lease is drawn on internal repairing and insuring terms to include the shop front

119 Regent Street
Tenant: Parkinsons Limited
Lease for a term to expire on the 31st August 2025
Rent: £28,000 per annum
Rent review: No outstanding rent review
Break Clause - No break clause.
Repairing Liability: The lease is drawn on internal repairing and insuring terms to include the shop front

8 Satchwell Walk
AST to expire 20th July 2024
Rent: £1,295 per calendar month

9 Satchwell Walk
AST to expire October 2024
Rent: £895 per calendar month

10 Satchwell Walk
AST to expire August 2024
Rent: £1,195 per calendar month

We are advised that the properties are elected for VAT.
VAT is payable in respect of the commercial rents, however, not payable on the flat rents.



Rates



The rateable values for the current year are:
117 Regent Street: £25,500
119 Regent Street: £22,500

Council Tax Banding
8 Satchwell Walk: band B
9 Satchwell Walk: band A
10 Satchwell Walk: band A



Legal Costs



Each party will be responsible for their own legal costs.



EPC



8 Satchwell Walk: E-40
9 Satchwell Walk: C-70
10 Satchwell Walk: D-68

117 Regent Street: B-46
119 Regent Street: C-51



Current Rental Income £103,620 Per Annum



2 Well Let Retail Units and 3 Apartments



Excellent Vibrant Town Centre Location



Refurbished 15 Years Ago



Sought After Secondary Retailing Location



Fully Let and Income Producing



Close To Prime Retail and High Quality Hospitality Sectors
( Agency Pilot Software ref: 646 )