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Agent's details

16 Swan Street, Warwick, Warwickshire, CV34 4BJ

For sale: £400,000.00|Retail - High Street, Residential, Retail

Property details

FOR SALE£400,000.00
ADDRESS16 Swan Street, Warwick, Warwickshire, CV34 4BJ
TYPERetail - High Street, Residential, Retail
TENUREBusiness for sale, Development Opportunity, Investment Opportunity, For Sale Freehold
POSTED ON9th April 2022

Description

Description

Town Centre Retail and Residential Investment Property

Location

16 Swan Street is located in the heart of the county town of Warwick, Swan Street being a prime retailing location boasting a mixture of both independent and national retailers including Superdrug, Greggs and Lloyds Bank. This location boasts a number of restaurants and wine bars as well as internationally known tourist venues such as Warwick Castle. The site is identified on the attached street map.

Services

All mains services are connected to the building.

Tenure

The property is to be sold freehold subject to an occupational lease relating to the ground floor and vacant possession of the upper floor residential apartment.

The ground floor shop unit is let subject to the following terms.

Rental Income
£13,000 per annum (exclusive).

Lease Term
Fifteen years from the 25th March 2014.

Rent Review
The lease contains a three-yearly rent review pattern.

Break
There are no pending break clauses.

Repairing Liabilities
The lease is drawn on internal repairing and insuring terms with the tenant having the responsibility for the repair and maintenance of the shop front. In addition a tenant is required to contribute 40% of costs relating to the repairs and maintenance of the structure and roofs at the property. The landlord recovers 40% of the annual buildings insurance premium from the shop tenant.

Alienation
The lease provides for the usual alienation provisions subject to an authorised guarantee agreement.

Planning

Class E (formerly A1) with the upper floors being subject to a C3 use (residential dwelling).

Rent

The current rental income is £13,000 per annum (exclusive).

Price
£400,000 Freehold subject to contract and shop lease.

Rates

The rateable value for the current year is £7,800.
Apartment Council Tax Band B

Legal Costs

Each party will be responsible for their own legal costs incurred in the transaction.

EPC

Shop EPC: D 100
Apartment EPC:

Retail Investment and Vacant Upper Floor 4 Bed Apartment

Current Retail Income £13,000 p.a

Significant Rent Income Potential From Apartment

Residential Refurbishment Potential

Great Warwick Town Centre Location

Shop Trading as Cabin News

Separate Access to Apartment at Rear

Busy Central Location

Grade II Listed Building
Price: £400,000
( Agency Pilot Software ref: 555 )

Location

marker
Location: 16 Swan Street, Warwick, Warwickshire, CV34 4BJ

Warwick (0.5 miles)

Warwick Parkway (1.0 miles)

Leamington Spa (2.2 miles)

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