Neighbouring occupiers include Barclays Bank, White Stuff, Costa Coffee, The Body Shop, H&M, Santander and LLoyds Bank
Lot 13
Auction 23rd September 2020
Rent £66,500 per Annum Exclusive
Status Sold
Price £625,000
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 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.
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground
Retail
108.41 sq m
(1,167 sq ft)
VODAFONE LIMITED (1)
10 years from 12/06/2015 until 2025 (2)
£66,500
11/06/2025
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 £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
