49 The Parade
Royal Leamington Spa
Warwickshire
CV32 4BA

Virtual Freehold Retail Investment

  • Let to Smiggle UK Ltd until 2026
  • Attractive and affluent Spa Town
  • Prime retail pitch opposite Marks & Spencer
  • Adjacent to the 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
  • Lot
    25
  • Auction
    23/Sep/2020
  • Rent
    £47,500 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 49 The Parade<br>Royal Leamington Spa<br>Warwickshire<br>CV32 4BA
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* 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 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 2 listed period building.

VAT

VAT is applicable to this lot.

Note

The neighbouring property which is let to Vodafone is being offered as lot 13

Completion Period

Six Week Completion

EPC

Band D See legal pack.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReviews/
(Reversion)
Ground
Basement
Retail
Ancillary
47.47 sq m
56.30 sq m
(511 sq ft)
(606 sq ft)
SMIGGLE UK
LIMITED (1)
10 years from
10/08/2016 (2)
£47,50010/08/2021
(09/08/2026)
Total
103.77 sq m
(1,117 sq ft)
  £47,500 

(1) Smiggle UK Limited (CRN 06720710) was incorporated in 2008 and are wholly owned by Just UK international limited. For the year ending 28th July 2018 Smiggle UK Limited reported a Turnover of 69,641,000.,Pre tax profit of 7,061,000 and Sharehold Funds of 20,736,000 (Experian 28/08/2020)
(2) The lease provides for a tenant option to determine the lease on 10/08/2021. The tenant is obliged to pay a fee of 11,876 plus VAT.

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
    56 MB
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  • Catalogue Page
    Updated Date
    02.09.20
    File Size
    662 KB
    View PDF
  • Site Plan
    Updated Date
    02.09.20
    File Size
    902 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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