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
    23/Sep/2020
  • Rent
    £66,500 per Annum Exclusive
  • Status
    Sold
  • Price*
    £625,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 51 The Parade<br>Royal Leamington Spa<br>Warwickshire<br>CV32 4BA
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  • Photos
  • Map

* More information on the term "price" can be found here

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.

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

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReversion
GroundRetail
108.41 sq m
(1,167 sq ft)
VODAFONE
LIMITED (1)
10 years from
12/06/2015 until 2025
(2)
£66,50011/06/2025
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 £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    14.09.20
    File Size
    53 MB
    Login to View
  • Catalogue Page
    Updated Date
    02.09.20
    File Size
    705 KB
    View PDF
  • Site Plan
    Updated Date
    02.09.20
    File Size
    950 KB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    15.09.20
    File Size
    57 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Progeny Law and Tax Limited. Progeny, 1A Tower Square
Leeds
LS1 4DL
Julie Evans 0113 4682448 Julie.Evans@theprogenygroup.com

Useful Links

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