Investment/Development opportunity of period house, offices, barns and land with planning consent.
Landmark, listed former residence in need of refurbishment
Offices totalling 4,909 sq ft (456.2 sq m) let to three tenants
Office income: £87,645 per annum
Planning permission for 8,696 sq ft (808 sq m) new build offices
Open fields included within total area of 12.07 acres (4.89 hectares)
Rare opportunity in highly sought-after location just off M40 at Fosse Way/Banbury Road junction
Harwoods House is an impressive local landmark, Grade II listed Period building dating from the late 18th century. The property is of Flemish bond red brick construction over three storeys with old tiled hipped roof, and a number of outbuildings. The property is in need of sympathetic refurbishment providing a wonderful opportunity for residential or commercial use.
Office Barns - The Forge, The Dairy and the Coach House and Hovel. There are three areas of former agricultural barns which were converted to a high standard into offices in 2007. Each has underfloor heating with in-floor ducting for ITC connections, male and female WC’s (including disabled facilities) and kitchenette. The buildings sit within an attractive landscaped setting with ample car parking. The Forge and The Dairy are both single storey, the Coach House and Hovel building is L Shaped, being part two storey and part single storey.
New Build Office Opportunity - 8,696 sq ft. There is planning consent for further new build office construction to the rear of Harwoods House, partly utilising existing outbuildings totalling 8,696 sq ft (808 sq m). The accommodation has implemented planning and listed buildings consent from Stratford-0n-Avon District Council proposing office space, meeting rooms, ‘buzz space’, servery, toilet facilities and storage, with 58 new parking spaces and covered cycle parking.
The main access for the offices is to the rear of the Dutch barns off Fosse Way and there is a further access for Harwoods House itself off the Banbury Road. The planning permission for the new office building includes new further access off Banbury Road; this entrance is also expected to provide access to the fields, which are currently arranged to provide a single grazing area.
Location. Where Dick Turpin stashed his ill gotten gains, according to local legend, Harwoods House, land and buildings occupy a highly prominent landmark position at the junction of the B4100 Warwick to Banbury Road and the B4455 Fosse Way, half way between Warwick and Gaydon, close to the village of Ashorne in the Warwickshire countryside.
Jaguar Land Rover and Aston Martin are both close by at Gaydon, with the Warwick Technology Park also just up the road. Coventry and Warwickshire are known for being at the forefront of technical innovation, creating and developing digital and transport technologies for the future. Brands such as Geely London Electric Vehicle Company, PSA Peugeot Citreon, Rolls Royce Aerospace, Tata Motors and VivaRail have made their homes here and the area is a major centre for B2B and gaming/entertainment software. Unprecidented local investment includes National Automotive Innovation Centre, UK Battery Industrialisation Centre, Battery Assembly Centre (JLR), UK Mobility Data Institute, (Warwick Manufacturing Group), Smart City Mobility Centre, JLR's new £200 million Engineering & Design Centre at Gaydon. There are an extensive number of new homes planned or under construction in the Warwickshire area nearby.
Tenure. The property is held freehold under separate titles as follows:- WK410586 Harwoods House, The Coach House and Hovel, plus area with planning consent for offices and open fields. WK397810 The Forge and The Dairy and associated parking.
Current Leases. The Forge - 1,302 sq ft, let to Silverstone Auctions Limited for a term of 10 years from 18th Jult 2017 with and end date of July 2027 at a current rent of £22,785 per annum. The Dairy - 1,270 sq ft let to Selux UK Limited at a rent of £22,860 per annum plus VAT with an end date of July 2027. The Coach House and Hovel - 2,337 sq ft let to Freestyle Agency at a rent of £42,000 plus VAT with and end date of July 2027. Full details are available from White Commercial.
Price. Offers are invited over £1.8 million. VAT is payable in respect of tenants occupation and the sale.