freehold freehold investment nvestment nvestment ... - Loveitts
FREEHOLD INVESTMENT OPPORTUNITY FOR SALE AS A WHOLE OR MAY SPLIT 144/144A BULKINGTON ROAD BEDWORTH CV12 9EB
• Comprising A Retail Unit And Three (Double) Double) Bedroomed House (Both SelfSelf-Contained) With A Useful Detached Workshop/Store At The Rear • Prominently Situated Fronting The Busy Bulkington Road (B4029) • The Shop Trading As The Men’s Barbershop Is Let At A Commencing Rental Of £7 £7,800 PA PA • The House Is Let On An Assured Shorthold Tenancy At £650 Per Calendar Month (Being £7,800 PA) PA) • The Workshop/Store Is Currently Vacant • Price: Offers In The Region Of £249,950
LOCATION
First Floor
The property is situated in a prominent location fronting the busy Bulkington Road (B4029) about 0.5 miles from Bedworth Town Centre and approximately 1.5 miles from the centre of Bulkington. Bedworth railway station is close by and on-street parking is also available.
Briefly comprising: Three Double Bedrooms (one with en-suite bathroom and shower); Separate Shower Room.
The premises are situated adjacent to the Nicholas Chamberlaine Technology College, and while there are a number of other commercial units in the vicinity, it is predominately a densely populated residential area. The property is also conveniently situated for the motorway network being about 2.5 miles from the M6 (Junction 3) and about 6 miles from the M69. Bedworth is about 6 miles north of the centre of Coventry and 4 miles south of Nuneaton. According to Census 2001, Bedworth had a population of 32,268 (2001 Urban Areas Head Counts).
144A Bulkington Road (Shop) All measurements are approximate and on a Net Internal Area Basis. Ground Floor Retail Sales Area Internal Width (front): Shop Depth (max): NET SALES AREA:
3.74m (12’3”) 12.87m (42’3”) 36.79m² 79m² (396 (396ft²) 96ft²)
Stairs (accessed from a lobby off the Sales Area and also a separate door from the rear yard) to: First Floor Kitchenette
3.89m² 89m² (42 (42ft²) 42ft²)
DESCRIPTION WC (with shower installed by the tenant) The property, which is principally constructed of brick, is essentially a two-storey end terraced house (currently providing three double bedrooms), which has been extended to offer retail premises at the side – while the shop and house were once integral, they are now both self-contained and currently let. There is also a vacant detached workshop/store in the rear yard, which if let, could provide useful additional income. The premises have been extensively refurbished by the current owner including a new covering for the flat roof over the front shop area – the house also benefits from double glazing and gas central heating.
Conservatory/Staff Room/Office* Room/Office* 9.21m² (99ft²) *with French doors on to the balcony above the shop TOTAL NET INTERNAL AREA 49. 49.89 M² (537 (537 Ft²) Outside
ACCOMMODATION
Rear yard with Workshop/Store totalling about 45.22 sq m (487 sq ft) (gross internal area) – the workshop/store is arranged as two intercommunicating sections (1) 2.63m (8’7”) x 11.12m (36’6”), with a mono pitched roof sloping down from 2.32m (7’7”) to 2.18m (7’2”), and (2) 1.96m (6’5”) x 8.15m (26’9”), again, with a mono pitched roof of 2.54m (8’4”) sloping down to 2.44m (8’). The unit has a concrete floor and benefits from mains electricity/fluorescent strip lighting.
144 Bulkington Road (House)
VAT
Ground Floor
All prices and rents mentioned in these details and any subsequent correspondence are exclusive of VAT, if applicable. Please note that at the time of preparation of these particulars (March 2016), the landlord had not elected to charge VAT on the rent/sale price.
A copy of the title plan is attached to these particulars for reference only and is not to scale (boundaries, etc, to be confirmed by the Vendor’s Solicitors during the usual pre-contract enquiries).
Briefly comprising: Kitchen/Dining Area.
Vestibule;
Lounge;
FIXTURES AND FITTINGS FITTINGS
COSTS
All items usually classed as tenant’s fixtures and fittings and not mentioned in these details are excluded from any sale.
Each party to pay their own legal costs.
SERVICES
We understand from the Valuation Office Agency website that the current assessments are:-
All main services are understood to be available, subject to connection charges by the utility companies. Gas central heating to the house.
RATING
144 Bulkington Road (House) Council Tax Band B
No tests have been applied. 144A Bulkington Road(Shop) TENURE Rateable Value: The premises are available freehold, subject to the occupational leases.
£3,050*
*we understand that this assessment also includes
the rear workshop/store 144 Bulkington Road (House) The house is to be let on an Assured Shorthold Tenancy Agreement for a fixed term of six months with effect from 1 April 2016. The rent to be paid is £650 per calendar month (being £7,800 per annum).
Prospective purchasers are recommended to make their own enquiries for verification ENERGY PERFORMANCE RATINGS 144 (House):
144a Bulkington Road (Shop) The shop, which trades as The Men’s Barbershop, is let on a ten year lease with effect from 10 July 2015, and on tenant’s full repairing and insuring terms. The commencing rental is £7,800 per annum. There is a tenant’s break clause at the end of the second year of the term and then at three yearly intervals thereafter. The initial rent review is also due at the end of the second year.
Current EPC Rating D
No. 144a (Shop):
EPC Rating D
LOCAL AUTHORITY Nuneaton and Bedworth Borough Council Coton Road Nuneaton Warwickshire CV11 5AA
Copies of the tenancy agreements are available on request to bona fide purchasers.
Tel: 024 7637 6376
Workshop/Store
VIEWING
Vacant.
By arrangement with:-
The shop and house therefore provide for a total gross annual income of £15,600 per annum, albeit there is considered scope to increase the gross income received from the premises if the workshop/store was also let out.
LOVEITTS COMMERCIAL Telephone: 024 7622 8111 e-mail: [email protected] (Ref. SRE)
PURCHASE PRICE Offers in the region of £249,950 for the whole. Alternatively, the vendor may consider splitting the property i.e. a sale of the house, shop and workshop/store separately may be entertained – further details on request.
Kitchen – House
Lounge - House
Sales Area - Shop
Workshop / Store
Workshop / Store Subject property for identification purposes only
Plan not to scale for illustrative purposes only
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.
• Comprising A Retail Unit And Three (Double) Double) Bedroomed House (Both SelfSelf-Contained) With A Useful Detached Workshop/Store At The Rear • Prominently Situated Fronting The Busy Bulkington Road (B4029) • The Shop Trading As The Men’s Barbershop Is Let At A Commencing Rental Of £7 £7,800 PA PA • The House Is Let On An Assured Shorthold Tenancy At £650 Per Calendar Month (Being £7,800 PA) PA) • The Workshop/Store Is Currently Vacant • Price: Offers In The Region Of £249,950
LOCATION
First Floor
The property is situated in a prominent location fronting the busy Bulkington Road (B4029) about 0.5 miles from Bedworth Town Centre and approximately 1.5 miles from the centre of Bulkington. Bedworth railway station is close by and on-street parking is also available.
Briefly comprising: Three Double Bedrooms (one with en-suite bathroom and shower); Separate Shower Room.
The premises are situated adjacent to the Nicholas Chamberlaine Technology College, and while there are a number of other commercial units in the vicinity, it is predominately a densely populated residential area. The property is also conveniently situated for the motorway network being about 2.5 miles from the M6 (Junction 3) and about 6 miles from the M69. Bedworth is about 6 miles north of the centre of Coventry and 4 miles south of Nuneaton. According to Census 2001, Bedworth had a population of 32,268 (2001 Urban Areas Head Counts).
144A Bulkington Road (Shop) All measurements are approximate and on a Net Internal Area Basis. Ground Floor Retail Sales Area Internal Width (front): Shop Depth (max): NET SALES AREA:
3.74m (12’3”) 12.87m (42’3”) 36.79m² 79m² (396 (396ft²) 96ft²)
Stairs (accessed from a lobby off the Sales Area and also a separate door from the rear yard) to: First Floor Kitchenette
3.89m² 89m² (42 (42ft²) 42ft²)
DESCRIPTION WC (with shower installed by the tenant) The property, which is principally constructed of brick, is essentially a two-storey end terraced house (currently providing three double bedrooms), which has been extended to offer retail premises at the side – while the shop and house were once integral, they are now both self-contained and currently let. There is also a vacant detached workshop/store in the rear yard, which if let, could provide useful additional income. The premises have been extensively refurbished by the current owner including a new covering for the flat roof over the front shop area – the house also benefits from double glazing and gas central heating.
Conservatory/Staff Room/Office* Room/Office* 9.21m² (99ft²) *with French doors on to the balcony above the shop TOTAL NET INTERNAL AREA 49. 49.89 M² (537 (537 Ft²) Outside
ACCOMMODATION
Rear yard with Workshop/Store totalling about 45.22 sq m (487 sq ft) (gross internal area) – the workshop/store is arranged as two intercommunicating sections (1) 2.63m (8’7”) x 11.12m (36’6”), with a mono pitched roof sloping down from 2.32m (7’7”) to 2.18m (7’2”), and (2) 1.96m (6’5”) x 8.15m (26’9”), again, with a mono pitched roof of 2.54m (8’4”) sloping down to 2.44m (8’). The unit has a concrete floor and benefits from mains electricity/fluorescent strip lighting.
144 Bulkington Road (House)
VAT
Ground Floor
All prices and rents mentioned in these details and any subsequent correspondence are exclusive of VAT, if applicable. Please note that at the time of preparation of these particulars (March 2016), the landlord had not elected to charge VAT on the rent/sale price.
A copy of the title plan is attached to these particulars for reference only and is not to scale (boundaries, etc, to be confirmed by the Vendor’s Solicitors during the usual pre-contract enquiries).
Briefly comprising: Kitchen/Dining Area.
Vestibule;
Lounge;
FIXTURES AND FITTINGS FITTINGS
COSTS
All items usually classed as tenant’s fixtures and fittings and not mentioned in these details are excluded from any sale.
Each party to pay their own legal costs.
SERVICES
We understand from the Valuation Office Agency website that the current assessments are:-
All main services are understood to be available, subject to connection charges by the utility companies. Gas central heating to the house.
RATING
144 Bulkington Road (House) Council Tax Band B
No tests have been applied. 144A Bulkington Road(Shop) TENURE Rateable Value: The premises are available freehold, subject to the occupational leases.
£3,050*
*we understand that this assessment also includes
the rear workshop/store 144 Bulkington Road (House) The house is to be let on an Assured Shorthold Tenancy Agreement for a fixed term of six months with effect from 1 April 2016. The rent to be paid is £650 per calendar month (being £7,800 per annum).
Prospective purchasers are recommended to make their own enquiries for verification ENERGY PERFORMANCE RATINGS 144 (House):
144a Bulkington Road (Shop) The shop, which trades as The Men’s Barbershop, is let on a ten year lease with effect from 10 July 2015, and on tenant’s full repairing and insuring terms. The commencing rental is £7,800 per annum. There is a tenant’s break clause at the end of the second year of the term and then at three yearly intervals thereafter. The initial rent review is also due at the end of the second year.
Current EPC Rating D
No. 144a (Shop):
EPC Rating D
LOCAL AUTHORITY Nuneaton and Bedworth Borough Council Coton Road Nuneaton Warwickshire CV11 5AA
Copies of the tenancy agreements are available on request to bona fide purchasers.
Tel: 024 7637 6376
Workshop/Store
VIEWING
Vacant.
By arrangement with:-
The shop and house therefore provide for a total gross annual income of £15,600 per annum, albeit there is considered scope to increase the gross income received from the premises if the workshop/store was also let out.
LOVEITTS COMMERCIAL Telephone: 024 7622 8111 e-mail: [email protected] (Ref. SRE)
PURCHASE PRICE Offers in the region of £249,950 for the whole. Alternatively, the vendor may consider splitting the property i.e. a sale of the house, shop and workshop/store separately may be entertained – further details on request.
Kitchen – House
Lounge - House
Sales Area - Shop
Workshop / Store
Workshop / Store Subject property for identification purposes only
Plan not to scale for illustrative purposes only
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.
