Retail for sale

High Street investment opportunity with development potential (STP).
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.
Description - 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. 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
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 [email protected] or by calling 01926 456536.
Tenure - The property is freehold and to be sold subject to the existing tenancy.
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 www.warwickdistrictdc.gov.uk for more details.
Legal Costs - Each party to be responsible for their own legal costs associated with the transaction.
Viewing - Sheldon Bosley Knight have been instructed as the sole agent. To arrange a viewing please contact [email protected] or 01789 387882
Important Notes - We are required by HMRC to conduct anti-money laundering checks on all parties with an interest in property and accordingly we will require forms of identification in due course.
Particulars do not constitute an offer or contract and should not be relied upon as being factually accurate, the photographs show only part of the property and the areas, measurements and distances given are approximates only. A buyer or a lessee must make their own enquiries or inspections and should not solely rely on these particulars or other statements by Sheldon Bosley