freeholdinvestmentpro pertyforsale 279 walsgrave
FREEHOLD INVESTMENT PROPERTY FOR SALE 279 WALSGRAVE ROAD COVENTRY CV2 4BA
Prominently Situated Ground Floor Café/Takeaway Premises With Four Self-Contained Studio Flats Over Forming Part Of The Busy Ball Hill Shopping Area Comprising A Number Of Local And National Concerns Ground Floor Trading as Ball Hill Food Court And Currently Paying £22,360 Per Annum (Ultimately Rising To £31,414.19 Per Annum) Studio Flats Currently Producing £2,150 Per Month. New 12 Month Agreements For All Four Flats Already Completed With Effect From 1 July 2018 Total Gross Annual Income of £46,160 From 1 July 2018 Price: Offers Around £489,000
279 Walsgrave Road, Coventry, CV2 4BA
LOCATION
landing with communal utility area offering laundry facilities.
The property forms part of the Ball Hill neighbourhood shopping area in the Middle Stoke district of Coventry and is situated on the northern side of the busy A4600 Walsgrave Road amongst a variety of local and national concerns including Barclays, Greggs, William Hill, Tesco Express, etc. The City Centre is approximately one mile distant. There is limited stay on-street parking to hand with a loading area to the immediate frontage.
Each of the studio flats has a kitchenette with en-suite shower room. VAT All prices and rents mentioned in these details and any subsequent correspondence are exclusive of VAT, if applicable. FIXTURES AND FITTINGS
Coventry is an expanding Midlands city with a population of some 300,000 plus inhabitants, situated immediately adjacent to the M6 motorway at Junctions 2 and 3, on the eastern fringe of the huge West Midlands conurbation.
All items usually classed as tenant’s fixtures and fittings and not mentioned in these details are excluded from any sale.
DESCRIPTION
All main services are understood to be available, subject to connection charges by the utility companies. Electric heating and WI-FI to the studio flats.
Comprising an extended two storey mid-terrace property constructed principally of brick with a part rendered front elevation set beneath a series of pitched and flat roofs. The property is currently arranged as a café/takeaway on the ground floor (offering burgers, chicken, pizza and chips) with four selfcontained studio flats above accessed from a separate entrance off Walsgrave Road. The flats have been fitted out to a high standard including uPVC double glazing and benefit from a communal utility area offering laundry facilities.
SERVICES
No tests have been applied. TENURE The premises are available freehold, subject to the occupational leases. Shop
Internal Width: Shop Depth:
5.51m (18’1”) max. 27.36m (89’9”) max.
The ground floor currently trades as Ball Hill Food Court and is let to the tenants on a twenty year lease with effect from 18 August 2017 at a commencing rental of £22,360 per annum, with stepped rents rising to £25,043.20, £28,048.38 and £31,414.19 at the end of the fifth, tenth and fifteenth years of the term respectively. There are also tenant’s break clauses at the end of every fifth year of the term. The premises are let on a tenant’s internal repairing (together with the shop front and fascia, etc) and apportioned insuring basis.
TOTAL NIA:
136.47m² (1,469ft²)
Studio Flats
ACCOMMODATION All measurements are approximate and on a Net Internal Area (NIA) basis. Café/Takeaway
Disabled WC and separate staff toilet facilities. Studio Flats Accessed from a separate ground floor entrance off Walsgrave Road with stairs to the first floor
Flats 2, 3 and 4 are currently let at £550 per month, while Flat 1 is let at £500 per a month. New Assured Shorthold Tenancies have been completed (on a furnished basis) for the twelve month period from 1 July 2018 to 30 June 2019 providing for gross annual rentals of
279 Walsgrave Road, Coventry, CV2 4BA
£5,750, £6,050, £6,050 and £5,950 for Flats, 1, 2, 3 and 4 respectively (ie £23,800). We understand that the landlord is responsible for electric, water and internet charges, together with one TV licence. The shop and flats will therefore provide for a total gross annual income of £46,160 from 1 July 2018. PURCHASE PRICE Offers around £489,000. COSTS Each party to pay their own legal costs. LOCAL AUTHORITY Coventry City Council Council House Reception Earl Street Coventry CV1 5RR Tel: 0808 583 4333 ENERGY PEFORMANCE RATING Café/Takeaway Rating D (91). Studio Flats Flat 1 – Band D (58) Flat 2 – Band C (72) Flat 3 – Band C (72) Flat 4 – Band C (71) VIEWING By arrangement with:LOVEITTS COMMERCIAL Telephone: 024 7622 8111 e-mail: [email protected] (Ref. SRE)
279 Walsgrave Road, Coventry, CV2 4BA
Subject property for identification purposes only
279 Walsgrave Road, Coventry, CV2 4BA
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.
Prominently Situated Ground Floor Café/Takeaway Premises With Four Self-Contained Studio Flats Over Forming Part Of The Busy Ball Hill Shopping Area Comprising A Number Of Local And National Concerns Ground Floor Trading as Ball Hill Food Court And Currently Paying £22,360 Per Annum (Ultimately Rising To £31,414.19 Per Annum) Studio Flats Currently Producing £2,150 Per Month. New 12 Month Agreements For All Four Flats Already Completed With Effect From 1 July 2018 Total Gross Annual Income of £46,160 From 1 July 2018 Price: Offers Around £489,000
279 Walsgrave Road, Coventry, CV2 4BA
LOCATION
landing with communal utility area offering laundry facilities.
The property forms part of the Ball Hill neighbourhood shopping area in the Middle Stoke district of Coventry and is situated on the northern side of the busy A4600 Walsgrave Road amongst a variety of local and national concerns including Barclays, Greggs, William Hill, Tesco Express, etc. The City Centre is approximately one mile distant. There is limited stay on-street parking to hand with a loading area to the immediate frontage.
Each of the studio flats has a kitchenette with en-suite shower room. VAT All prices and rents mentioned in these details and any subsequent correspondence are exclusive of VAT, if applicable. FIXTURES AND FITTINGS
Coventry is an expanding Midlands city with a population of some 300,000 plus inhabitants, situated immediately adjacent to the M6 motorway at Junctions 2 and 3, on the eastern fringe of the huge West Midlands conurbation.
All items usually classed as tenant’s fixtures and fittings and not mentioned in these details are excluded from any sale.
DESCRIPTION
All main services are understood to be available, subject to connection charges by the utility companies. Electric heating and WI-FI to the studio flats.
Comprising an extended two storey mid-terrace property constructed principally of brick with a part rendered front elevation set beneath a series of pitched and flat roofs. The property is currently arranged as a café/takeaway on the ground floor (offering burgers, chicken, pizza and chips) with four selfcontained studio flats above accessed from a separate entrance off Walsgrave Road. The flats have been fitted out to a high standard including uPVC double glazing and benefit from a communal utility area offering laundry facilities.
SERVICES
No tests have been applied. TENURE The premises are available freehold, subject to the occupational leases. Shop
Internal Width: Shop Depth:
5.51m (18’1”) max. 27.36m (89’9”) max.
The ground floor currently trades as Ball Hill Food Court and is let to the tenants on a twenty year lease with effect from 18 August 2017 at a commencing rental of £22,360 per annum, with stepped rents rising to £25,043.20, £28,048.38 and £31,414.19 at the end of the fifth, tenth and fifteenth years of the term respectively. There are also tenant’s break clauses at the end of every fifth year of the term. The premises are let on a tenant’s internal repairing (together with the shop front and fascia, etc) and apportioned insuring basis.
TOTAL NIA:
136.47m² (1,469ft²)
Studio Flats
ACCOMMODATION All measurements are approximate and on a Net Internal Area (NIA) basis. Café/Takeaway
Disabled WC and separate staff toilet facilities. Studio Flats Accessed from a separate ground floor entrance off Walsgrave Road with stairs to the first floor
Flats 2, 3 and 4 are currently let at £550 per month, while Flat 1 is let at £500 per a month. New Assured Shorthold Tenancies have been completed (on a furnished basis) for the twelve month period from 1 July 2018 to 30 June 2019 providing for gross annual rentals of
279 Walsgrave Road, Coventry, CV2 4BA
£5,750, £6,050, £6,050 and £5,950 for Flats, 1, 2, 3 and 4 respectively (ie £23,800). We understand that the landlord is responsible for electric, water and internet charges, together with one TV licence. The shop and flats will therefore provide for a total gross annual income of £46,160 from 1 July 2018. PURCHASE PRICE Offers around £489,000. COSTS Each party to pay their own legal costs. LOCAL AUTHORITY Coventry City Council Council House Reception Earl Street Coventry CV1 5RR Tel: 0808 583 4333 ENERGY PEFORMANCE RATING Café/Takeaway Rating D (91). Studio Flats Flat 1 – Band D (58) Flat 2 – Band C (72) Flat 3 – Band C (72) Flat 4 – Band C (71) VIEWING By arrangement with:LOVEITTS COMMERCIAL Telephone: 024 7622 8111 e-mail: [email protected] (Ref. SRE)
279 Walsgrave Road, Coventry, CV2 4BA
Subject property for identification purposes only
279 Walsgrave Road, Coventry, CV2 4BA
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.
