51 The Parade Royal Leamington Spa Warwickshire CV32 4BA

51 The Parade
Royal Leamington Spa
Warwickshire
CV32 4BA

Virtual Freehold Retail Investment

Let to Vodafone Limited until 2025
No Arrears
2020 break option not exercised
Located in an attractive and affluent Spa Town
Prime retail pitch opposite Marks & Spencer
Neighbouring occupiers include Barclays Bank, White Stuff, Costa Coffee, The Body Shop, H&M, Santander and LLoyds Bank

Lot
13
Auction
23rd September 2020
Rent
£66,500 per Annum Exclusive
Status
Sold
Price
£625,000
Auction Venue
Live Streamed Auction

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Virtual Freehold Retail Investment

Let to Vodafone Limited until 2025
No Arrears
2020 break option not exercised
Located in an attractive and affluent Spa Town
Prime retail pitch opposite Marks & Spencer
Neighbouring occupiers include Barclays Bank, White Stuff, Costa Coffee, The Body Shop, H&M, Santander and LLoyds Bank

Lot 13
Auction 23rd September 2020
Rent £66,500 per Annum Exclusive
Status Sold
Price £625,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 2 miles east of Warwick; 8 miles south of Coventry; 18 miles south-east of Birmingham
Roads: M40, A46, A452, A445, A425
Rail: Leamington Spa Rail
Air: Birmingham International Airport

Situation

Royal Leamington Spa is an attractive and affluent Warwickshire town. The property is situated in a prime retailing position on Parade opposite Marks & Spencer and close to the main entrance to the Royal Priors Shopping Centre. Neighbouring occupiers include Barclays Bank, White Stuff, Costa Coffee, The Body Shop, H&M, Santander and LLoyds Bank.

Tenure

Virtual Freehold. Held for a term of 999 years from completion of the sale at a peppercorn rent.

Location

Miles: 2 miles east of Warwick; 8 miles south of Coventry; 18 miles south-east of Birmingham
Roads: M40, A46, A452, A445, A425
Rail: Leamington Spa Rail
Air: Birmingham International Airport

Situation

Tenure

Virtual Freehold. Held for a term of 999 years from completion of the sale at a peppercorn rent.

Description

The property comprises self contained ground floor retail accommodation which forms part of a larger attractive Grade two listed period building.

VAT

VAT is applicable to this lot.

Note

The neighbouring property which is let to Smiggle Retail Limited is being offered as lot 25

Completion Period

Six Week Completion

EPC

Band C. See legal pack.

Description

The property comprises self contained ground floor retail accommodation which forms part of a larger attractive Grade two listed period building.

VAT

VAT is applicable to this lot.

Note

The neighbouring property which is let to Smiggle Retail Limited is being offered as lot 25

Completion Period

Six Week Completion

EPC

Band C. See legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground	Retail	108.41 sq m	(1,167 sq ft)	VODAFONE LIMITED (1)	10 years from 12/06/2015 until 2025 (2)	£66,500	11/06/2025
Totals		108.41 sq m	(1,167 sq ft)			£66,500

(1) For the year ending 31st March 2019, Vodafone Limited reported a turnover of 5,512,900,000, pre-tax profits of negative 679,500,000 and shareholders funds of 5,848,400,000 (Source: SmartSearch 24/08/2020).
(2) The tenant did NOT exercise the June 2020 option to determine the lease.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.