17 Market Place, Warwick, Warwickshire, CV34 4SA
, CV34 4SA
Price: Sale Price: £660,000
Size: SOA Primary Category: Shop All Categories:
Shop, Property Ref/Movehut: MH662160 Property Ref/Agent: 17 Market Place, Warwick, Warwickshire, CV34 4SA - 528
*Please use the agent ref when calling the agent directly.
17 Market Place comprises a four-storey period building, constructed of 9-inch solid brickwork being surmounted by a pitched slate roof which in turn links with a secondary three-storey structure at the rear of the site which is also of 9-inch solid brickwork with a pitched slate roof. The building occupies a prime location in the heart of the County town of Warwick. This vibrant location comprises a mixture of shops, restaurants, bars, museum and offices, including the Warwickshire Country Council headquarters at Shire Hall.
The site is identified on the attached street map.
The building provides two lock up retail units at ground floor with a central arcade style access to the inner hall of the building which in turn provides access to two one-bedroom apartments within the front building, storage facilities at the rear of the ground floor and a staircase leading to the two-bedroom apartment within the rear building.
Shop One: 473 sq ft (44 sq m) net
Shop Two: 162 sq ft (15.01 sq m) net plus 114 sq ft storage
Situated centrally within Warwick Town Centre, the property occupies a prime retail spot with the likes of Costa Coffee, W H Smith and M&S all close by. The property is located at the top of Market Place, one of the most sought after retail locations in Warwick.
All mains services are connected to the building or available for connection.
No gas appliances are connected to the three residential units.
The property is to be sold freehold subject to two occupational leases in respect of the two lock up shops and three assured shorthold tenancies in respect of the apartments. The details of the leases and tenancies follow below:
Shop One: 17 Market Place - Let to M A Passey at a current rent of £13,500 per annum. The lease is due to expire on the 30th April 2025. There is a tenant break on the 30th April 2022.
Shop Two: 17 Market Place - Let to D and C French at a current rent of £7,500 per annum for a term to expire on the 13th September 2025 with a tenant break clause on the 14th September 2023.
Under the shop leases the tenants are responsible for paying a fair proportion towards the cost of repair, maintenance and decoration of the common areas and exterior.
The three residential units are let subject to Assured Shorthold Tenancy agreements:
Flat 1 let at £650 per calendar month from 4th October 2021 for a fixed term 12 month contract.
Flat 2 let at £650 per calendar month from 16th August 2021 for a fixed term 12 month contract.
Flat 3 (rear wing) let at £750 per calendar month from 1st August 2018 on a periodic tenancy.
Total rental income £45,600 per annum (exclusive). VAT is not applicable.
Formerly A1 now E, and C3 (residential dwelling).
Price Guide: £660,000
Shop One Rateable Value £10,500
Shop Two Rateable Value £5,300
Flat 1 Council Tax Band B
Flat 2 Council Tax Band A
Flat 3 Council Tax Band C
The landlord recovers a fair proportion of the buildings insurance from the two retail tenants.
Each party will be responsible for their own legal costs.
Commercial EPC for 17 Market Place E 122
Flat 1 EPC E 51
Flat 2 EPC D 62
Flat 3 EPC D 60
Investment Income of £45,600 Per Annum Exclusive
Price Guide: £660,000
Two Retail Units and 3 Residential Apartments
Prime Central Warwick
Scope for Redevelopment
Attractive Substantial Period Property
EPC for 17 Market Place, Warwick, Warwickshire, CV34 4SA
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