forsale 64 queens road nuneaton cv11 5jz AWS
64 Queens Road, Nuneaton
FOR SALE 64 QUEENS ROAD NUNEATON CV11 5JZ
Mixed Commercial and Residential Investment Opportunity Comprising Tenanted Shop Together With Converted First Floor Accommodation And Extended Rear Wing Providing Three Self-Contained Flats With Independent Access Potential Rental Income £22,610 Per Annum Gross Prominent Main Road Position Residential Accommodation Benefits From Gas-Fired Central Heating Together With Sealed Unit Double Glazing Purchase Price - £295,000 Freehold, Subject To Existing Tenancies And With Part Vacant Possession
RENTAL / PURCHASE PRICE £
64 Queens Road, Nuneaton LOCATION
TOTAL
The subject property forms part of an established parade of shops fronting directly onto the busy B4102 Queens Road, just beyond Nuneaton’s inner ring road (the A444 Roanne Ringway) and a short stroll from the Nuneaton town centre.
The Domestic Part
Cash Convertors is one of the occupiers in the parade which also includes a tanning studio, Ghurka Café, nail bar, Polish shop and charity shop. Parking is possible on a ‘first come, first serve’ basis on the neighbouring streets or otherwise in one of the Local Authority run ‘pay and display’ public car parks in the vicinity, the nearest being the Co-Op car park immediately adjacent to Nuneaton’s inner ring road. DESCRIPTION The property comprises a ground floor lockup retail shop unit currently tenanted and occupied as a nail bar, together with considerably improved and extended residential accommodation comprising three self-contained flats (one 2-bedroomed unit and two 1-bedroomed units) each benefitting from gas-fired central heating and sealed unit double glazing. The property is available freehold as a mixed commercial and residential investment opportunity generating a current income of £18,050 per annum but with a potential rental income of £22,610 per annum gross. ACCOMMODATION The accommodation in brief comprises:The Commercial Part 64 Queens Road Split Level Retail Shop
44.64 m² (480 ft²) 4.26 m² (46 ft²)
Kitchen
8.77 m² (94 ft²)
Toilet – comprising w.c.
64a Queens Road A first floor flat comprising hallway, kitchen, lounge, one bedroom and bathroom with bath, wash basin and w.c. 64b Queens Road A first floor flat comprising lounge, kitchen, two bedrooms and bathroom with bath, wash basin and w.c. 64c Queens Road A ground floor flat comprising kitchen, lounge, one bedroom and bathroom with bath, wash basin and w.c. Access to the individual flats is at the rear of the property with an internal staircase provided to the first floor units. There is also a raised amenity/drying area at the rear of the site. (All measurements of the commercial accommodation are approximate and on a net internal area basis).
SERVICES Mains water, drainage, gas and electricity are connected to the premises with gas-fired central heating provided to the individual flats. No tests have been applied. TENURE The property is available freehold subject to the following leases/tenancies:64 Queens Road – Let under a six year lease from 20th April 2017 at £8,750 per annum
Ancillary Salon
Store
62.08 m² (668 ft²)
4.41m² (48 ft²)
64a Queens Road – Currently let at £360.00 per calendar month but action now being taken for possession (potentially £4,320 per annum). 64b Queens Road – Currently let at £415.00 per calendar month. Tenancy expires 23rd
64 Queens Road, Nuneaton February annum).
2018
(potentially
£4,980
per
64c Queens Road – Currently vacant and on the market to let at £380.00 per calendar month (potentially £4560 per annum).
EPC CERTIFICATION We understand the individual units have the following EPC assessments:64 Queens Road -
C
PURCHASE PRICE
64a Queens Road –
D
Offers are invited based on £295,000 for the freehold subject to the existing tenancies and otherwise with part vacant possession.
64b Queens Road –
C
64c Queens Road -
C
VAT All prices and rents mentioned in these details and any subsequent correspondence are exclusive of VAT if applicable. At the time of preparation of these details (October 2017) the Vendor had not elected to charge VAT on the sale price.
VIEWING Courtesy of the existing tenants and by arrangement with:LOVEITTS COMMERCIAL Telephone: 024 7622 8111 E-mail: [email protected] (Ref. JRP/AW)
FIXTURES AND FITTINGS All items usually classed as tenant’s fixtures and fittings and not mentioned in these details are excluded from the any sale. LOCAL AUTHORITY Nuneaton and Bedworth Borough Council Town Hall Coton Road NUNEATON Warwickshire CV11 5AA Tel: 024 7637 6376 RATES We are informally advised by the Local Authority that the current assessments are:64 Queens Road - Rateable Value: £7,700 64a Queens Road – Council Tax Band A 64b Queens Road – Council Tax Band A 64c Queens Road - Council Tax Band A Prospective occupiers are recommended to make their own enquiries with the Local Authority for verification.
Subject property for identification purposes only
64 Queens Road, Nuneaton
Conditions under which particulars are issued: Messrs Loveitts for themselves and for vendors or lessors of this property, whose agent they are, give notice that: i)
The particulars are set out as a general outline only for the guidance of intended purchasers or lessees and do not constitute, or constitute part of, an offer or contract.
ii)
All descriptions, dimensions, reference to conditions and necessary permissions for use and occupation, and other details, are given in good faith and are believed to be correct and any intended purchasers or lessees should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of them.
iii)
No partner or any person in the employment of Loveitts has any authority to make or give any representation or warranty whatever in relation to this property.
iv)
All prices and rents quoted are exclusive of V.A.T. unless otherwise stated.
FOR SALE 64 QUEENS ROAD NUNEATON CV11 5JZ
Mixed Commercial and Residential Investment Opportunity Comprising Tenanted Shop Together With Converted First Floor Accommodation And Extended Rear Wing Providing Three Self-Contained Flats With Independent Access Potential Rental Income £22,610 Per Annum Gross Prominent Main Road Position Residential Accommodation Benefits From Gas-Fired Central Heating Together With Sealed Unit Double Glazing Purchase Price - £295,000 Freehold, Subject To Existing Tenancies And With Part Vacant Possession
RENTAL / PURCHASE PRICE £
64 Queens Road, Nuneaton LOCATION
TOTAL
The subject property forms part of an established parade of shops fronting directly onto the busy B4102 Queens Road, just beyond Nuneaton’s inner ring road (the A444 Roanne Ringway) and a short stroll from the Nuneaton town centre.
The Domestic Part
Cash Convertors is one of the occupiers in the parade which also includes a tanning studio, Ghurka Café, nail bar, Polish shop and charity shop. Parking is possible on a ‘first come, first serve’ basis on the neighbouring streets or otherwise in one of the Local Authority run ‘pay and display’ public car parks in the vicinity, the nearest being the Co-Op car park immediately adjacent to Nuneaton’s inner ring road. DESCRIPTION The property comprises a ground floor lockup retail shop unit currently tenanted and occupied as a nail bar, together with considerably improved and extended residential accommodation comprising three self-contained flats (one 2-bedroomed unit and two 1-bedroomed units) each benefitting from gas-fired central heating and sealed unit double glazing. The property is available freehold as a mixed commercial and residential investment opportunity generating a current income of £18,050 per annum but with a potential rental income of £22,610 per annum gross. ACCOMMODATION The accommodation in brief comprises:The Commercial Part 64 Queens Road Split Level Retail Shop
44.64 m² (480 ft²) 4.26 m² (46 ft²)
Kitchen
8.77 m² (94 ft²)
Toilet – comprising w.c.
64a Queens Road A first floor flat comprising hallway, kitchen, lounge, one bedroom and bathroom with bath, wash basin and w.c. 64b Queens Road A first floor flat comprising lounge, kitchen, two bedrooms and bathroom with bath, wash basin and w.c. 64c Queens Road A ground floor flat comprising kitchen, lounge, one bedroom and bathroom with bath, wash basin and w.c. Access to the individual flats is at the rear of the property with an internal staircase provided to the first floor units. There is also a raised amenity/drying area at the rear of the site. (All measurements of the commercial accommodation are approximate and on a net internal area basis).
SERVICES Mains water, drainage, gas and electricity are connected to the premises with gas-fired central heating provided to the individual flats. No tests have been applied. TENURE The property is available freehold subject to the following leases/tenancies:64 Queens Road – Let under a six year lease from 20th April 2017 at £8,750 per annum
Ancillary Salon
Store
62.08 m² (668 ft²)
4.41m² (48 ft²)
64a Queens Road – Currently let at £360.00 per calendar month but action now being taken for possession (potentially £4,320 per annum). 64b Queens Road – Currently let at £415.00 per calendar month. Tenancy expires 23rd
64 Queens Road, Nuneaton February annum).
2018
(potentially
£4,980
per
64c Queens Road – Currently vacant and on the market to let at £380.00 per calendar month (potentially £4560 per annum).
EPC CERTIFICATION We understand the individual units have the following EPC assessments:64 Queens Road -
C
PURCHASE PRICE
64a Queens Road –
D
Offers are invited based on £295,000 for the freehold subject to the existing tenancies and otherwise with part vacant possession.
64b Queens Road –
C
64c Queens Road -
C
VAT All prices and rents mentioned in these details and any subsequent correspondence are exclusive of VAT if applicable. At the time of preparation of these details (October 2017) the Vendor had not elected to charge VAT on the sale price.
VIEWING Courtesy of the existing tenants and by arrangement with:LOVEITTS COMMERCIAL Telephone: 024 7622 8111 E-mail: [email protected] (Ref. JRP/AW)
FIXTURES AND FITTINGS All items usually classed as tenant’s fixtures and fittings and not mentioned in these details are excluded from the any sale. LOCAL AUTHORITY Nuneaton and Bedworth Borough Council Town Hall Coton Road NUNEATON Warwickshire CV11 5AA Tel: 024 7637 6376 RATES We are informally advised by the Local Authority that the current assessments are:64 Queens Road - Rateable Value: £7,700 64a Queens Road – Council Tax Band A 64b Queens Road – Council Tax Band A 64c Queens Road - Council Tax Band A Prospective occupiers are recommended to make their own enquiries with the Local Authority for verification.
Subject property for identification purposes only
64 Queens Road, Nuneaton
Conditions under which particulars are issued: Messrs Loveitts for themselves and for vendors or lessors of this property, whose agent they are, give notice that: i)
The particulars are set out as a general outline only for the guidance of intended purchasers or lessees and do not constitute, or constitute part of, an offer or contract.
ii)
All descriptions, dimensions, reference to conditions and necessary permissions for use and occupation, and other details, are given in good faith and are believed to be correct and any intended purchasers or lessees should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of them.
iii)
No partner or any person in the employment of Loveitts has any authority to make or give any representation or warranty whatever in relation to this property.
iv)
All prices and rents quoted are exclusive of V.A.T. unless otherwise stated.
