Commercial property for sale in 117 & 119 Regent Street, Leamington Spa, Warwickshire CV32
* Calls to this number will be recorded for quality, compliance and training purposes.
Property features
- Current Rental Income £103,620 Per Annum
- 2 Well Let Retail Units and 3 Apartments
- Excellent Vibrant Town Centre Location
- Refurbished 15 Years Ago
- Sought After Secondary Retailing Location
- Fully Let and Income Producing
- Close To Prime Retail and High Quality Hospitality Sectors
Property description
Description
Town Centre Freehold Retail and Residential Investment
Location
Regent Street is located in the heart of Leamington Spa, bisecting the prime retailing location known as the Parade. The site is identified on the attached street map. This popular secondary retailing zone is serviced by on-street and multiple car parks, excellent public transport, and is a short walk from many local amenities including the famous parks and gardens of Leamington Spa.
Services
All mains services are connected to the properties and are independent to each unit.
Tenure
Subject to two freehold Titles.
Rent
Price
Freehold price: £1,340,000.
117 Regent Street
Tenant: The Danish Wardrobe Company Limited
Lease for a term to expire on the 7th January 2029
Rent: £35,000 per annum
Rent review: 8th January 2024
Break Clause: No break clause
Repairing Liability: The lease is drawn on internal repairing and insuring terms to include the shop front
119 Regent Street
Tenant: Parkinsons Limited
Lease for a term to expire on the 31st August 2025
Rent: £28,000 per annum
Rent review: No outstanding rent review
Break Clause - No break clause.
Repairing Liability: The lease is drawn on internal repairing and insuring terms to include the shop front
8 Satchwell Walk
AST to expire 20th July 2024
Rent: £1,295 per calendar month
9 Satchwell Walk
AST to expire October 2024
Rent: £895 per calendar month
10 Satchwell Walk
AST to expire August 2024
Rent: £1,195 per calendar month
We are advised that the properties are elected for VAT.
VAT is payable in respect of the commercial rents, however, not payable on the flat rents.
Rates
The rateable values for the current year are:
117 Regent Street: £25,500
119 Regent Street: £22,500
Council Tax Banding
8 Satchwell Walk: Band B
9 Satchwell Walk: Band A
10 Satchwell Walk: Band A
Legal Costs
Each party will be responsible for their own legal costs.
EPC
8 Satchwell Walk: E-40
9 Satchwell Walk: C-70
10 Satchwell Walk: D-68
117 Regent Street: B-46
119 Regent Street: C-51
Current Rental Income £103,620 Per Annum
2 Well Let Retail Units and 3 Apartments
Excellent Vibrant Town Centre Location
Refurbished 15 Years Ago
Sought After Secondary Retailing Location
Fully Let and Income Producing
Close To Prime Retail and High Quality Hospitality Sectors
Property info
For more information about this property, please contact
EHB Reeves, CV32 on +44 1926 267862 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by EHB Reeves, and do not constitute property particulars. Please contact EHB Reeves for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.
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