Retail for sale

A bright and light, freshly refurbished premises offered for sale as a mixed use freehold investment. It comprises a ground floor shop and separately accessed residential apartment.
Location - In the heart of Leamington's town centre. In close proximity to a mix of independent shops, cafes, and restaurants, offering everything from artisanal bread and pastries to vintage clothing and other local amenities. Within walking distance of Leamington Train Station allowing for superb access to Birmingham, London and other major destinations.
Accommodation - Commercial
Retail Sales - 54.92 m² (591ft²)
Kitchen - 1.29 m² (14ft²)
Basement - 37.49 m² (404ft²) - storage only
Total NIA - 93.7 m2 (1,009ft²)
Residential
Open Plan Kitchen - Living 23.22 m² (249ft²)
Kitchen - 5.54 m² (59ft²)
Bedroom - 9.02 m² (97ft²)
Bathroom - 4.84 m² (52ft²)
Storage - 1.68 m² (18ft²)
Loft Storage - 15.64 m² (168ft²)
Investment Summary - The Commercial demise is leased to ACDC Lettings Ltd on a 5-year term from 1st January 2024 with a tenant break clause at the anniversary of the second year. The Internal Repairing and Insuring lease has been granted outside of the Landlord and Tenant Act 1954 and achieves a passing rental of £14,000 per annum. A term of 999 years from 1st January 2018 (992 years remaining) remains on the Long Leasehold with a peppercorn ground rent.
It is estimated that the flat could achieve a passing rent of £12,600 per annum. A term of 189 years from 1st November 1990 (155 years remaining) remains on the Long Leasehold with a peppercorn Ground Rent.
ERV: £26,600
Services - It is understood that electric, water and foul water drainage connected to the property.
Business Rates - Rateable Value £5,500
The rates payable are calculated as a multiplier of the rateable value. If the rateable value is £12,000 or less, small businesses may be entitled to 100% rates relief providing the property is their only business premises. Any interested applicants should contact the local authority and verify the multiplier and check if any rates relief is available for their business.
Energy Performance Certificate - Commercial - Band E
Residential - TBC
Vat - The property is not elected for VAT.
Viewing - To discuss the property or to arrange a viewing please contact the commercial Team: 01926 852620 option 3 or [email protected]
Important Notes - We are required by HMRC to conduct anti-money laundering checks on all parties with an interest in the property and accordingly we will require forms of identification in due course. Particulars: These 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 approximately 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 Knight. VAT: The VAT position relating to the property may change without notice