Regent Street

Leamington Spa

£375,000

A mixed use freehold investment. It comprises a ground floor retail unit producing £10,000 pa and a separately accessed two bedroom flat offered with vacant possession requiring modernisation.

DETAILS  

LOCATION
129 Regent Street is prominently located near to the junction with Park Street and in close proximity to Parade, the main retailing thoroughfare for the town. The property is close by a number of high quality independent boutique shops and national covenant retailers such as Fired Earth and Dominos Pizza.

DESCRIPTION
A freehold comprising a mixed use commercial and residential premises. The top two floors consist of a separately accessed two-bedroom apartment requiring modernisation which is available with vacant possession. Once refurbished the ERV is £1,000 pcm.

The ground floor retail unit is subject to a new business lease with ten years unexpired (to 2029) within the Security of Tenure provisions of the Landlord and Tenant Act. Initial rent is £10,000pa with a rent review due October 2020.

The shop has an A1 planning use and operates as a sandwich bar/deli and caterers.

Pedestrian access to the rear is available from Park Street

ACCOMMODATION
The accommodation comprises three storey mixed use retail and residential unit together with a basement. It has the following approximate dimensions:

Retail Part
Main sales area – 25.72m2 (277sq.ft.)
Stock storeroom – 5.21m2 (56sq.ft.)
Staff WC
Total net internal area - 30.93m2 (333 sq.ft.)

Pedestrian right of way and access from rear of property to Park Street.

Residential Part

Ground floor, access directly to Regent Street, vaulted ceiling and
dry basement – 21.72m2 (234sq.ft.).

First floor – 27.94m2 (301sq.ft.)
Landing and stairway to second floor – 28.24m2 (304sq.ft.)

Total Gross Internal Area – 77.9m2 (839sq.ft.)

AMENITIES
The Rustic Food Company are an independent retailer who have been established for over 9 years. The business has been subject to continuing investment in new equipment, fixtures and fittings.

SERVICES
Mains water, electricity and drainage are connected to the property.

TERMS
The freehold is available at £375,000

OUTGOINGS
Business rates rateable value is £8,500 pa
Residential property rated Council Tax Band C.

VIEWING
To discuss the property or arrange a viewing please contact the sole sales agent – Mark Treadwell on 01789 387 882
Email – mtreadwell@sheldonbosleyknight.co.uk