High Street investment opportunity with development potential (STP).
The property comprises three storeys and a basement fully occupied by a business tenant. The property also has a private rear garden leading to a detached double garage with vehicular access from the rear.
Location
The property occupies a highly convenient and well-connected position on Emscote Road, one of Warwick’s principal thoroughfares linking the historic town centre with neighbouring Royal Leamington Spa. Emscote Road is a vibrant mixed-use street comprising a characterful mix of residential houses, local shops, services and small businesses offering a community feel for the number of local amenities.
Accommodation
The accommodation is arranged as follows:
Ground floor 45m² (484ft²)
First floor 26.5m² (285ft²)
Second floor 18.8m² (202ft²)
Total 90.3m² (972ft²) IPMS 2
Terms
Investment - The whole premises is let on a business lease from February 2017 expiring February 2032. The lease is excluded from the security of tenure provisions of the 1954 Landlord & Tenant Act. The tenant has the benefit of a break clause in February 2027 having given at least six months’ written notice. The passing rent is £8,500 per annum.
Services - It is understood that electric, water and main drainage are connected to the property but interested parties should make their own enquiries.
Planning - For all planning enquiries, please contact Warwick District Council by emailing or by calling .
Tenure - The property is freehold and to be sold subject to the existing tenancy.
Price - £260,000
Energy Performance Certificate - EPC rating: 100 D valid until 15th December 2032.
Business Rates - Current rateable value £6,400.
Qualifying businesses with a rateable value of up to £12,000 currently receive 100% relief. This relief will decrease on a sliding scale for rateable values between £12,000 to £15,000. In addition, such businesses will have their bill calculated using the small business rates non-domestic rates multiplier. Enquire at for more details.
Legal Costs - Each party to be responsible for their own legal costs associated with the transaction.
Specification
- Investment and development opportunity (subject to planning).
- Current passing rent £8,500 per annum.
- Favoured residential area.
- Total area 90.3m² (972ft²).
- Residential conversion opportunity (subject to planning and vacant possession).