Offers over
£850,000
(£114.28/sq. ft)
Retail premises for sale160-164, The Parade, Leamington Spa CV32
7,438 sq. ft
Freehold
About this property
Situated on the premier retailing street in Leamington
Let to 3 tenants, generating an income of £71,500 per annum
Well presented Georgian properties
Seeking offers in excess of £850,000
Description
The property comprises three terraced units, let to three individual commercial tenants producing a combined income of £70,500 p.a. Which we summarise below:
160 Parade - let to A Plan Insurance Group for a term of 10 years expiring 11/12/20027 at a rent of £23,500 p.a.
162 Parade - let to Hamesh Antique Furniture Ltd for a term of 3 years, expiring 10/01/26 at a rent of £25,000 p.a.
164 Parade - let to Reynolds Interiors Ltd for a term of 5 years, expiring 28/09/28 at a rent of £22,000 p.a.
In addition the upper parts have been converted to 10 flats and have been sold off on long leaseholds. The total ground rent is £1,000 per annum.
Location
The Parade is the premier retail and leisure street in Leamington Spa, a highly affluent and picturesque spa town in Warwickshire. The town is served by a mainline train station providing serves into London and Birmingham. By road, it is situated a short distance to the east of the A46 which connect in tourn to the M40, M69 and M6 motorways.
Terms
Freehold
The property comprises three terraced units, let to three individual commercial tenants producing a combined income of £70,500 p.a. Which we summarise below:
160 Parade - let to A Plan Insurance Group for a term of 10 years expiring 11/12/20027 at a rent of £23,500 p.a.
162 Parade - let to Hamesh Antique Furniture Ltd for a term of 3 years, expiring 10/01/26 at a rent of £25,000 p.a.
164 Parade - let to Reynolds Interiors Ltd for a term of 5 years, expiring 28/09/28 at a rent of £22,000 p.a.
In addition the upper parts have been converted to 10 flats and have been sold off on long leaseholds. The total ground rent is £1,000 per annum.
Location
The Parade is the premier retail and leisure street in Leamington Spa, a highly affluent and picturesque spa town in Warwickshire. The town is served by a mainline train station providing serves into London and Birmingham. By road, it is situated a short distance to the east of the A46 which connect in tourn to the M40, M69 and M6 motorways.
Terms
Freehold
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