108 - 110 The Parade Royal Leamington Spa Warwickshire CV32 4AQ

108 - 110 The Parade
Royal Leamington Spa
Warwickshire
CV32 4AQ

  • 108 - 110 The Parade<br>Royal Leamington Spa<br>Warwickshire<br>CV32 4AQ

Freehold Retail Investment

  • Comprises 2 Attractive Buildings
  • Entirely Let Until 2036 and 2032 (subject to options)
  • Located Affluent and Attractive Spa Town
  • Prime Retailing Thoroughfare
  • Residential Conversion of Upper Parts (subject to consents)
  • 110 The Parade 2022 Tenant Break Option Not Exercised
  • Nearby Occupiers include Vodafone, Marks & Spencer, Jones, WHSmith and Barclays Bank
  • Lot
    13
  • Auction
    18/May/2022
  • Rent
    £100,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £1,250,000 - £1,350,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • Expand
  • 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 historic, attractive and affluent Warwickshire spa town. The property is situated in the retailing pitch on the west side of the busy Parade and 50 metres south of its junction with Regent Street. The Parade is the prime retailing thoroughfare with national retailing occupiers including Vodafone, Marks & Spencer, Jones, WHSmith and Barclays Bank.

Tenure

Freehold.

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 historic, attractive and affluent Warwickshire spa town. The property is situated in the retailing pitch on the west side of the busy Parade and 50 metres south of its junction with Regent Street. The Parade is the prime retailing thoroughfare with national retailing occupiers including Vodafone, Marks & Spencer, Jones, WHSmith and Barclays Bank.

Tenure

Freehold.

Description

The property comprises 2 adjacent mid-terrace attractive period buildings with retail accommodation on the ground floor and ancillary accommodation on the upper three floors. The property benefits from rear access and car parking via Bedford Street.

The property may benefit from residential conversion of the upper parts (subject to consents). There is no current access to the third floor.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises 2 adjacent mid-terrace attractive period buildings with retail accommodation on the ground floor and ancillary accommodation on the upper three floors. The property benefits from rear access and car parking via Bedford Street.

The property may benefit from residential conversion of the upper parts (subject to consents). There is no current access to the third floor.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas
(Approx)
Tenant Term Rent p.a.x. Review/ (Reversion)
108 Ground
108 First
108 Second
108 Third
Retail
Ancillary
Ancillary
Ancillary
336.28 sq m
14.40 sq m
32.00 sq m
Not Measured
(3,618 sq ft)
(155 sq ft)
(344 sq ft)
MYBODEGA LTD
(1)
15 years from
02/07/2021 until 2036
£50,000
24/06/2026
(02/07/2036)
110 Ground
110 First
110 Second
110 Third
Retail
Ancillary
Ancillary
Ancillary
114.83 sq m
40.00 sq m
30.90 sq m
Not Measured
(1,236 sq ft)
(430 sq ft)
(332 sq ft)
INDIGO HAIR LTD
(2)
15 years from
19/10/2017 until 2032
£50,000
19/10/2022
19/10/2027
(19/10/2032)
Total Approximate
Floor Area
 
568.41 sq m
(6,115 sq ft)
(3)
   
£100,000
 

(1) MyBodega Limited was incorporated in 2010 and is a South American restaurant and cocktail bar operating from four locations across the West Midlands (www.bodegacantina.co.uk). The lease provides a tenant option to determine the lease on 02/07/2026 upon serving 6 months written notice.
(2) Indigo Hair Limited is Leamington's Premier hair salon and was incorporated in 2006. (www.indigohairsalon.co.uk). The lease provides a tenant option to determine the lease on 19/10/2022 and 19/10/2027 upon serving 6 months written notice. As to the 2022 option to determine the Landlord has not received written notice from the Tenant to determine the lease on the 19/10/2022.
(3) The floor areas states above are those published by the Valuation Office Agency (www.voa.gov.uk)

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.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    22.04.22
    File Size
    29 MB
    Login to View
  • Brochure
    Updated Date
    29.04.22
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Associate Auctioneers
4 Ewhurst Road
London
SE4 1AQ
Malcolm Martin 02086 903 100malcolm.martin@malcolmmartin.net
Seller's Solicitors
Maples Teesdale
Holly Stylianou 020 3465 4330hstylianou@maplesteesdale.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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