471-475 Beake Avenue Coventry Warwickshire CV6 2HT

  • 471-475 Beake Avenue<br>Coventry<br>Warwickshire<br>CV6 2HT

471-475 Beake Avenue
Coventry
Warwickshire
CV6 2HT

Freehold Retail and Residential Parade Investment

  • Fully-let and established retail & residential parade comprising approximately 5,057 sq ft
  • Shops let to a chemist, barber & a recently let curtain shop
  • 3 x 3 bed maisonettes above, two let on AST's and one let on regulated tenancy
  • Immediate Asset Management potential including lease renewal to Chemist
  • VAT-free investment
  • Popular Coventry Residential suburb location
  • Nearby retailers include Co-operative Convenience Store and a number of independent, local retailers
  • Lot
    5
  • Auction
    27th March 2024
  • Rent
    £39,586 per Annum Exclusive
  • Status
    Available
  • Guide*
    £450,000
  • Sector
    High Street Retail/Residential
  • Auction Venue
    Live Streamed Auction
  • On Instructions of Heart of England Co-operative Society
Important Update
  • Expand
  • Photos
  • Map

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

Freehold Retail and Residential Parade Investment

  • Fully-let and established retail & residential parade comprising approximately 5,057 sq ft
  • Shops let to a chemist, barber & a recently let curtain shop
  • 3 x 3 bed maisonettes above, two let on AST's and one let on regulated tenancy
  • Immediate Asset Management potential including lease renewal to Chemist
  • VAT-free investment
  • Popular Coventry Residential suburb location
  • Nearby retailers include Co-operative Convenience Store and a number of independent, local retailers
  • Lot 5
  • Auction 27th March 2024
  • Rent £39,586 per Annum Exclusive
  • Status Available
  • Guide* £450,000
  • Sector
    High Street Retail/Residential
  • Auction Venue
    Live Streamed Auction
  • On Instructions of Heart of England Co-operative Society

Property Information

Location
Miles
18 miles south-east of Birmingham
Roads
A45, A444, M6
Rail
Coventry Railway Station
Air
Birmingham International Airport
Situation

Coventry is a popular West Midlands City with a population of approximately 370,000 and enjoys excellent communications, being 4 miles south of the M6, 12 miles north of the M40 and 12 miles east of Birmingham International Airport. The property is prominently situated on Beake Avenue, close to its junction with Glenworth Avenue, in the popular residential suburb of Holbrooks, 1.5 miles east of Arena Shopping Park. Nearby retailers include Co-operative convenience store and a number of independent, local retailers.

Tenure

Freehold.

Location
Miles
18 miles south-east of Birmingham
Roads
A45, A444, M6
Rail
Coventry Railway Station
Air
Birmingham International Airport
Situation

Coventry is a popular West Midlands City with a population of approximately 370,000 and enjoys excellent communications, being 4 miles south of the M6, 12 miles north of the M40 and 12 miles east of Birmingham International Airport. The property is prominently situated on Beake Avenue, close to its junction with Glenworth Avenue, in the popular residential suburb of Holbrooks, 1.5 miles east of Arena Shopping Park. Nearby retailers include Co-operative convenience store and a number of independent, local retailers.

Tenure

Freehold.

Description

The property comprises three shops arranged on the ground floor and three separately accessed three bed maisonettes above let on ASTs.

Free parking is provided along the retail parade.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack

Description

The property comprises three shops arranged on the ground floor and three separately accessed three bed maisonettes above let on ASTs.

Free parking is provided along the retail parade.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack

Tenancy & Accommodation

Floor Use Floor Areas
Approx sq m
Floor Areas
(Approx sq ft)
Tenant Term Rent p.a.x.
Ground
(471 Beake Avenue)
Retail/Ancillary
142.04
(1,529)
CHEMICARE (COVENTRY) LTD (1) (t/a Chemycare Pharmacy) 15 years from 15/08/2008 (Holding Over) (2)
£9,000
Ground
(473 Beake Avenue)
Retail/Ancillary
29.62
(319)
B & N MARDANIA (t/a Curtain Shop) 5 years from 05/09/2023 (3)
£6,000
Ground
(475 Beake Avenue)
Retail/Ancillary
36.58
(394)
A. ZARE (t/a Suave Barber Club) 12 years from 22/10/2016
£4,750
First/Second
(471A Beake Avenue)
Maisonette - 3 bedrooms, 1 reception room, kitchen and bathroom
93.95
(1,011)
AN INDIVIDUAL AST 1 year from 20/09/2019 at £625 pcm
£7,500
First/Second
(473A Beake Avenue)
Maisonette - 3 bedrooms, 1 reception room, kitchen and bathroom
83.84
(902)
AN INDIVIDUAL AST 1 year from 17/01/2020 at £625 pcm
£7,500
First/Second
(475A Beake Avenue)
Maisonette - 3 bedrooms, 1 reception room, kitchen and bathroom
83.84
(902)
AN INDIVIDUAL Regulated Tenancy. Last Registered on 19/06/2017 at £403 pcm
£4,836
Total  
469.87
(5,057)
   
£39,586

(1) Chemycare pharmacies was first established in August 1988, with this site being their first branch to open. The currently trade from seven pharmacies operating in Coventry and Birmingham (www.chemycare.co.uk)
(2) The Seller confirms that the tenant is holding over on a lease that expired in August 2023 and that no notices have been served by the Landlord or Tenant.
(3) The lease is subject to a tenant option to determine on 04/09/2028.

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
    13.03.24
    File Size
    61 MB
    Login to View
  • Brochure
    Updated Date
    27.03.24
    File Size
    4 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
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Henry JohnHenry John +44 (0)20 7034 4860 +44 (0)7876 884 320henry.john@acuitus.co.uk
Associate AuctioneersDavid Walton 07824 438997david.walton@harrislamb.com
Seller's Solicitors
Band Hatton Button LLP Earlsdon Park, 53-55 Butts Road
Coventry
CV1 3BH
Daniel Blood 024 7623 7373dcb@bandhattonbutton.com

Useful Links

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

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