Let on a New Lease to Gifted Collective Ltd Until 2027
Attractive and Affluent Spa Town
Prime Retail Pitch Opposite Marks & Spencer
Adjacent to the Entrance to The Royal Priors Shopping Centre
Neighbouring Occupiers Including H&M, WHSmith, Costa Coffee, White Stuff, Superdrug, Wagamama, JD Wetherspoon and Travelodge
Lot 36
Auction 9th May 2024
Rent £27,500 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 and 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 The Parade opposite Marks & Spencer and close to the main entrance to the Royal Priors Shopping Centre. Neighbouring occupiers include H&M, WHSmith, Costa Coffee, White Stuff, Superdrug, Wagamama, JD Wetherspoon and Travelodge.
Tenure
Virtual Freehold. Held for a term of 999 years from 25/07/2023 at a peppercorn rent.
Location
Miles
2 miles east of Warwick, 8 miles south of Coventry and 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 The Parade opposite Marks & Spencer and close to the main entrance to the Royal Priors Shopping Centre. Neighbouring occupiers include H&M, WHSmith, Costa Coffee, White Stuff, Superdrug, Wagamama, JD Wetherspoon and Travelodge.
Tenure
Virtual Freehold. Held for a term of 999 years from 25/07/2023 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 II listed period building.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D
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 II listed period building.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Reversion
Ground Basement
Retail Ancillary
58.36 23.84
(628) (257)
GIFTED COLLECTIVE LTD (t/a The Gifted Shop) (CRN: 13404553)
3 years from 26/03/2024
£27,500
25/03/2027
Total Approximate Floor Area
82.20
(885)
£27,500
(1) The floor areas stated above are those published by the Valuation Office Agency (https://www.gov.uk/find-business-rates)
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.
