Retail, office and warehouse investment premises with development potential.
Brewsters Corner is located in the heart of the market town of Southam, on Pendicke Street, and is identified on the attached street map. The location is predominantly residential property although there are a number of business premises and community based uses in the near vicinity. It is within walking distance of the town centre whilst being in easy reach of the Southam ring road and principal arterial roads providing access to nearby commercial centres such as Coventry, Leamington Spa, Rugby, Daventry and Banbury.
All mains services with the exception of gas are connected to Brewsters Corner. The site has a number of electricity meters, some of which are the responsibility of the landlord and others the responsibility of the tenants. A schedule of services is available from the agents.
The property is to be sold freehold subject to the existing lease and licence arrangements in place, details of which are attached on the tenancy schedule.
It is believed that Brewsters Corner will now fall within the Class E User Classes category.
Freehold Price: Offers based on £1,000,000.
Gross current rental income (inclusive of servicing costs) of £91,976 per annum, with estimated total rental income (when fully let) of approximately £123,500 per annum (inclusive).
VAT is not applicable.
The rateable value for the current year is set out on the attached tenancy schedule.
Brewsters Corner is predominantly administered on an inclusive basis with the tenants' annual rent including a proportion of servicing costs to cover such items as utility consumption, cleaning and maintenance of common areas and the exterior, buildings insurance, refuse collection, and management fees. Tenants are responsible for meeting costs relating to business rates, data and telecoms.
An indicative annual servicing cost is £40,000 p.a.
Each party will be responsible for their own legal costs incurred in the transaction.
To be advised.
Office, Retail and Warehouse Investment For Sale
Price: Offers Based on £1,000,000
Gross Income Currently £91,976 per annum with Potential Income of Approximately £123,500
Excellent Town Centre Location
Interesting Redevelopment Potential Subject to Planning Consent
Scope for Refurbishment of Offices
Good Onsite Car Parking
( Agency Pilot Software ref: 588 )