Entirely Let Until 2036 and 2032 (subject to options)
Located Affluent and Attractive Spa Town
Prime Retailing Thoroughfare
Residential Conversion of Upper Parts (subject to consents)
110 The Parade 2022 Tenant Break Option Not Exercised
Nearby Occupiers include Vodafone, Marks & Spencer, Jones, WHSmith and Barclays Bank
Lot 13
Auction 18th May 2022
Rent £100,000 per Annum Exclusive
Status Sold Prior
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 historic, attractive and affluent Warwickshire spa town. The property is situated in the retailing pitch on the west side of the busy Parade and 50 metres south of its junction with Regent Street. The Parade is the prime retailing thoroughfare with national retailing occupiers including Vodafone, Marks & Spencer, Jones, WHSmith and Barclays Bank.
Tenure
Freehold.
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 historic, attractive and affluent Warwickshire spa town. The property is situated in the retailing pitch on the west side of the busy Parade and 50 metres south of its junction with Regent Street. The Parade is the prime retailing thoroughfare with national retailing occupiers including Vodafone, Marks & Spencer, Jones, WHSmith and Barclays Bank.
Tenure
Freehold.
Description
The property comprises 2 adjacent mid-terrace attractive period buildings with retail accommodation on the ground floor and ancillary accommodation on the upper three floors. The property benefits from rear access and car parking via Bedford Street.
The property may benefit from residential conversion of the upper parts (subject to consents). There is no current access to the third floor.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises 2 adjacent mid-terrace attractive period buildings with retail accommodation on the ground floor and ancillary accommodation on the upper three floors. The property benefits from rear access and car parking via Bedford Street.
The property may benefit from residential conversion of the upper parts (subject to consents). There is no current access to the third floor.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x.
Review/ (Reversion)
108 Ground 108 First 108 Second 108 Third
Retail Ancillary Ancillary Ancillary
336.28 sq m 14.40 sq m 32.00 sq m Not Measured
(3,618 sq ft) (155 sq ft) (344 sq ft)
MYBODEGA LTD (1)
15 years from 02/07/2021 until 2036
£50,000
24/06/2026 (02/07/2036)
110 Ground 110 First 110 Second 110 Third
Retail Ancillary Ancillary Ancillary
114.83 sq m 40.00 sq m 30.90 sq m Not Measured
(1,236 sq ft) (430 sq ft) (332 sq ft)
INDIGO HAIR LTD (2)
15 years from 19/10/2017 until 2032
£50,000
19/10/2022 19/10/2027 (19/10/2032)
Total Approximate Floor Area
568.41 sq m
(6,115 sq ft) (3)
£100,000
(1) MyBodega Limited was incorporated in 2010 and is a South American restaurant and cocktail bar operating from four locations across the West Midlands (www.bodegacantina.co.uk). The lease provides a tenant option to determine the lease on 02/07/2026 upon serving 6 months written notice. (2) Indigo Hair Limited is Leamington's Premier hair salon and was incorporated in 2006. (www.indigohairsalon.co.uk). The lease provides a tenant option to determine the lease on 19/10/2022 and 19/10/2027 upon serving 6 months written notice. As to the 2022 option to determine the Landlord has not received written notice from the Tenant to determine the lease on the 19/10/2022. (3) The floor areas states above are those published by the Valuation Office Agency (www.voa.gov.uk)
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.
