Fully-let and established retail & residential parade comprising approximately 5,057 sq ft
Shops let to a chemist, barber & a recently let curtain shop
3 x 3 bed maisonettes above, two let on AST's and one let on regulated tenancy
Immediate Asset Management potential including lease renewal to Chemist
VAT-free investment
Popular Coventry Residential suburb location
Nearby retailers include Co-operative Convenience Store and a number of independent, local retailers
Lot 5
Auction 27th March 2024
Rent £39,586 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail, Residential
Auction Venue Live Streamed Auction
On Instructions of Heart of England Co-operative Society
Property Information
Location
Miles
18 miles south-east of Birmingham
Roads
A45, A444, M6
Rail
Coventry Railway Station
Air
Birmingham International Airport
Situation
Coventry is a popular West Midlands City with a population of approximately 370,000 and enjoys excellent communications, being 4 miles south of the M6, 12 miles north of the M40 and 12 miles east of Birmingham International Airport. The property is prominently situated on Beake Avenue, close to its junction with Glenworth Avenue, in the popular residential suburb of Holbrooks, 1.5 miles east of Arena Shopping Park. Nearby retailers include Co-operative convenience store and a number of independent, local retailers.
Tenure
Freehold.
Location
Miles
18 miles south-east of Birmingham
Roads
A45, A444, M6
Rail
Coventry Railway Station
Air
Birmingham International Airport
Situation
Coventry is a popular West Midlands City with a population of approximately 370,000 and enjoys excellent communications, being 4 miles south of the M6, 12 miles north of the M40 and 12 miles east of Birmingham International Airport. The property is prominently situated on Beake Avenue, close to its junction with Glenworth Avenue, in the popular residential suburb of Holbrooks, 1.5 miles east of Arena Shopping Park. Nearby retailers include Co-operative convenience store and a number of independent, local retailers.
Tenure
Freehold.
Description
The property comprises three shops arranged on the ground floor and three separately accessed three bed maisonettes above let on ASTs.
Free parking is provided along the retail parade.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See Legal Pack
Description
The property comprises three shops arranged on the ground floor and three separately accessed three bed maisonettes above let on ASTs.
Maisonette - 3 bedrooms, 1 reception room, kitchen and bathroom
93.95
(1,011)
AN INDIVIDUAL
AST 1 year from 20/09/2019 at £625 pcm
£7,500
First/Second (473A Beake Avenue)
Maisonette - 3 bedrooms, 1 reception room, kitchen and bathroom
83.84
(902)
AN INDIVIDUAL
AST 1 year from 17/01/2020 at £625 pcm
£7,500
First/Second (475A Beake Avenue)
Maisonette - 3 bedrooms, 1 reception room, kitchen and bathroom
83.84
(902)
AN INDIVIDUAL
Regulated Tenancy. Last Registered on 19/06/2017 at £403 pcm
£4,836
Total
469.87
(5,057)
£39,586
(1) Chemycare pharmacies was first established in August 1988, with this site being their first branch to open. The currently trade from seven pharmacies operating in Coventry and Birmingham (www.chemycare.co.uk) (2) The Seller confirms that the tenant is holding over on a lease that expired in August 2023 and that no notices have been served by the Landlord or Tenant. (3) The lease is subject to a tenant option to determine on 04/09/2028.
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.
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