Adjacent to the 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
Lot 25
Auction 23rd September 2020
Rent £47,500 per Annum Exclusive
Status Withdrawn Post
Price
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
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.
Description
The property comprises ground floor Retail accommodation and ancillary accommodation in the basement . The retail unit benefits from a return frontage. The property forms part of a larger attractive Grade 2 listed period building.
VAT
VAT is applicable to this lot.
Note
The neighbouring property which is let to Vodafone is being offered as lot 13
Completion Period
Six Week Completion
EPC
Band D See legal pack.
Description
The property comprises ground floor Retail accommodation and ancillary accommodation in the basement . The retail unit benefits from a return frontage. The property forms part of a larger attractive Grade 2 listed period building.
VAT
VAT is applicable to this lot.
Note
The neighbouring property which is let to Vodafone is being offered as lot 13
Completion Period
Six Week Completion
EPC
Band D See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/ (Reversion)
Ground Basement
Retail Ancillary
47.47 sq m 56.30 sq m
(511 sq ft) (606 sq ft)
SMIGGLE UK LIMITED (1)
10 years from 10/08/2016 (2)
£47,500
10/08/2021 (09/08/2026)
Total
103.77 sq m
(1,117 sq ft)
£47,500
(1) Smiggle UK Limited (CRN 06720710) was incorporated in 2008 and are wholly owned by Just UK international limited. For the year ending 28th July 2018 Smiggle UK Limited reported a Turnover of 69,641,000.,Pre tax profit of 7,061,000 and Sharehold Funds of 20,736,000 (Experian 28/08/2020) (2) The lease provides for a tenant option to determine the lease on 10/08/2021. The tenant is obliged to pay a fee of 11,876 plus VAT.
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.
