Property details
A rare opportunity to acquire a fully income-producing freehold mixed-use investment comprising a ground floor commercial premises and two self-contained duplex apartments, prominently positioned within Warwick town centre.The property comprises two adjoining period buildings arranged as a ground floor retail/commercial unit with separate residential accommodation above. The residential element consists of a one-bedroom duplex apartment and a two-bedroom duplex apartment, both independently accessed and currently occupied,. In total, the property generates a passing rent of £28,940 per annum, providing investors with an attractive and established income stream.
Retaining much of their original character, the buildings occupy a prominent position within a well-established mixed commercial and residential area.
Location
Smith Street is a well-established commercial thoroughfare situated within the heart of Warwick town centre, connecting directly with the town's principal retail and leisure areas. Warwick is one of Warwickshire's most sought-after market towns, renowned for its historic character, strong tourism sector and excellent transport links. Warwick Railway Station provides direct services to Birmingham and London Marylebone, whilst Junctions 13, 14 and 15 of the M40 motorway are all within easy reach. The property occupies a prominent position amongst a mixture of independent retailers, cafés, restaurants, professional offices and residential accommodation. Warwick Castle, Market Place and the town's extensive amenities are all within walking distance, supporting strong levels of footfall and occupier demand.
Description
A rare opportunity to acquire a fully income-producing freehold mixed-use investment comprising a ground floor commercial premises and two self-contained duplex apartments, prominently positioned within Warwick town centre.
The property comprises a period building arranged as a ground floor retail/commercial unit with separate residential accommodation above. The residential element consists of a one-bedroom duplex apartment and a two-bedroom duplex apartment, both independently accessed and currently occupied,. In total, the property generates a passing rent of £38,650 per annum, providing investors with an attractive and established income stream.
Retaining much of their original character, the buildings occupy a prominent position within a well-established mixed commercial and residential area.
Investment
The commercial premises are currently let and producing an annual rental income of £21,000 per annum.
The residential accommodation is currently generating a combined rental income of £17,650 per annum.
Tenure
The property is Freehold
Rates
Current Business Rates: £7,100 & £6,600
Council Tax Band: B & B
VAT
VAT will be payable on the purchase price.
Legal Costs
Each party will be responsible for their own costs in connection with a sale.
Important Info
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.
EPC
47: C - 75
49: D - 86
47 Flat: E - 39
49 - E - 51
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