freeholdinvestment (partlet) 20 newdegate street nuneaton ... - Loveitts
F R E E H O L D I N V E S T M E N T (P A R T L E T) 20 NEWDEGATE STREET NUNEATON CV11 4EX · Imposing Town Centre Period Building Arranged on 3 Floors · Located in the Commercial Pedestrianised Heart of Nuneaton · Ground Floor/Mezzanine Let To Intervision Gaming (UK) Ltd £50,000 pa · Upper Floors – Vacant (To Let) · Offers Around £650,000 LOCATION The premises are situated in the commercial pedestrianised heart of Nuneaton which is the largest town in the borough of Nuneaton and Bedworth with a population of 71,000 (Census 2001) and a catchment extending to around 120,000. Nuneaton is situated nine miles north of the City of Coventry and twenty miles east of Birmingham. The property occupies a prominent position at the corner of Newdegate Street and Harefield Road amongst a number of national and local concerns.
20 Newdegate Street, Nuneaton, CV11 4EX
DESCRIPTION
RATING
The property comprises an imposing three storey Grade II listed building constructed principally of brick with stone dressings and a hipped slate roof.
We are informally advised by the Local Authority that the current assessment for the whole building (ie including upper floors) is:Rateable Value:
Having traded for many years as a bank, the premises are arranged on ground, mezzanine, first and second floors with staff facilities at ground and mezzanine levels. Currently fitted out as a banking hall on the ground floor, there are offices on the first and store rooms on the second floor. We understand that the tenant of the Ground Floor/Mezzanine will be commencing fittingout shortly. The first and second floors can be independently accessed from a side door (off Newdegate Place). ACCOMMODATION The accommodation is arranged on three floors and offers the following approximate Net Internal Areas:Ground Floor 253.36 M² (2,727 Ft²) (Briefly comprising and currently arranged as: Entrance Vestibule, Banking Hall, ATM area, Front Office, Rear Office, Main Safe, Rear Safe, Sluice, Boiler Room and Gent’s WC (Gent’s WC and Boiler Room not included in the Net Internal Floor Area)) Mezzanine 31.05 M² (334 Ft²) (Briefly comprising and currently arranged as: Staff Room/Kitchen and Ladies WC
(Ladies WC not included in the Net Internal Floor Area)) The Upper Floors are accessed from a side door off Newdegate Place. First Floor 167.61 M² (1,804 Ft²) (Briefly comprising: Three Office Rooms)
£54,500
The premises will therefore need to be reassessed for business rates purposes. Prospective purchasers/occupiers are recommended to make their own enquiries with the Local Authority for verification. TENURE The premises are available freehold, subject to the occupational lease of the Ground Floor/Mezzanine and vacant possession of the Upper Floors. The Ground Floor/Mezzanine is let to Intervision Gaming (UK) Limited for a term of fifteen years with effect from 19 November 2012 on tenant’s effective full repairing and insuring terms. The commencing rental is £50,000 per annum (pa), subject to a nine month rent free period. There are upward only rent reviews due on 19 November 2017 and 19 November 2022. There is also a tenant’s break clause on 18 November 2015, which is, inter alia, conditional on the tenant paying the landlord the sum of £25,000 (plus VAT if applicable). The Upper Floors are currently vacant and are available to let on a tenant’s effective full repairing and insuring lease for a term to be agreed (subject to periodic review). The commencing rental will be £15,000 pa. PURCHASE PRICE Offers are invited around £650,000. LEGAL COSTS
Second Floor 87.21 M² (939 Ft²) (Briefly comprising: a number of Store Rooms) TOTAL NET INTERNAL AREA 539.23 M² (5,804 Ft²)
Each party is to pay their own legal costs in the event of a sale. In the event of a letting of the upper floors, the incoming tenant is to pay all reasonable legal costs in respect of the transaction including Stamp Duty and VAT, if applicable.
20 Newdegate Street, Nuneaton, CV11 4EX
SERVICES
VIEWING
All main services are understood to be available, subject to connection charges by the utility companies.
By arrangement with:-
FIXTURES AND FITTINGS
LOVEITTS COMMERCIAL Telephone: 024 7622 8111 e-mail: [email protected] (Ref. JRP/SRE)
All items usually classed as tenant’s fixtures and fittings are not mentioned in these details, are excluded from any sale/letting. VAT All prices and rents mentioned in these details and any subsequent correspondence are exclusive of VAT, if applicable. Please note that the landlord has not elected to charge VAT on the rent or sale price. TOWN PLANNING The property is also understood to be Grade II listed and is situated within Nuneaton Town Centre Conservation Area. The upper floors are considered suitable for a variety of uses including offices, subject to obtaining any necessary consents. Prospective occupiers should rely on their own enquiries with the Planning Authority as to whether planning permission is necessary for their proposed use. LOCAL AUTHORITY Nuneaton and Bedworth Borough Council Coton Road Nuneaton Warwickshire CV11 5AA Tel: 024 7637 6376
Subject property for identification purposes only
20 Newdegate Street, Nuneaton, CV11 4EX
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.
20 Newdegate Street, Nuneaton, CV11 4EX
DESCRIPTION
RATING
The property comprises an imposing three storey Grade II listed building constructed principally of brick with stone dressings and a hipped slate roof.
We are informally advised by the Local Authority that the current assessment for the whole building (ie including upper floors) is:Rateable Value:
Having traded for many years as a bank, the premises are arranged on ground, mezzanine, first and second floors with staff facilities at ground and mezzanine levels. Currently fitted out as a banking hall on the ground floor, there are offices on the first and store rooms on the second floor. We understand that the tenant of the Ground Floor/Mezzanine will be commencing fittingout shortly. The first and second floors can be independently accessed from a side door (off Newdegate Place). ACCOMMODATION The accommodation is arranged on three floors and offers the following approximate Net Internal Areas:Ground Floor 253.36 M² (2,727 Ft²) (Briefly comprising and currently arranged as: Entrance Vestibule, Banking Hall, ATM area, Front Office, Rear Office, Main Safe, Rear Safe, Sluice, Boiler Room and Gent’s WC (Gent’s WC and Boiler Room not included in the Net Internal Floor Area)) Mezzanine 31.05 M² (334 Ft²) (Briefly comprising and currently arranged as: Staff Room/Kitchen and Ladies WC
(Ladies WC not included in the Net Internal Floor Area)) The Upper Floors are accessed from a side door off Newdegate Place. First Floor 167.61 M² (1,804 Ft²) (Briefly comprising: Three Office Rooms)
£54,500
The premises will therefore need to be reassessed for business rates purposes. Prospective purchasers/occupiers are recommended to make their own enquiries with the Local Authority for verification. TENURE The premises are available freehold, subject to the occupational lease of the Ground Floor/Mezzanine and vacant possession of the Upper Floors. The Ground Floor/Mezzanine is let to Intervision Gaming (UK) Limited for a term of fifteen years with effect from 19 November 2012 on tenant’s effective full repairing and insuring terms. The commencing rental is £50,000 per annum (pa), subject to a nine month rent free period. There are upward only rent reviews due on 19 November 2017 and 19 November 2022. There is also a tenant’s break clause on 18 November 2015, which is, inter alia, conditional on the tenant paying the landlord the sum of £25,000 (plus VAT if applicable). The Upper Floors are currently vacant and are available to let on a tenant’s effective full repairing and insuring lease for a term to be agreed (subject to periodic review). The commencing rental will be £15,000 pa. PURCHASE PRICE Offers are invited around £650,000. LEGAL COSTS
Second Floor 87.21 M² (939 Ft²) (Briefly comprising: a number of Store Rooms) TOTAL NET INTERNAL AREA 539.23 M² (5,804 Ft²)
Each party is to pay their own legal costs in the event of a sale. In the event of a letting of the upper floors, the incoming tenant is to pay all reasonable legal costs in respect of the transaction including Stamp Duty and VAT, if applicable.
20 Newdegate Street, Nuneaton, CV11 4EX
SERVICES
VIEWING
All main services are understood to be available, subject to connection charges by the utility companies.
By arrangement with:-
FIXTURES AND FITTINGS
LOVEITTS COMMERCIAL Telephone: 024 7622 8111 e-mail: [email protected] (Ref. JRP/SRE)
All items usually classed as tenant’s fixtures and fittings are not mentioned in these details, are excluded from any sale/letting. VAT All prices and rents mentioned in these details and any subsequent correspondence are exclusive of VAT, if applicable. Please note that the landlord has not elected to charge VAT on the rent or sale price. TOWN PLANNING The property is also understood to be Grade II listed and is situated within Nuneaton Town Centre Conservation Area. The upper floors are considered suitable for a variety of uses including offices, subject to obtaining any necessary consents. Prospective occupiers should rely on their own enquiries with the Planning Authority as to whether planning permission is necessary for their proposed use. LOCAL AUTHORITY Nuneaton and Bedworth Borough Council Coton Road Nuneaton Warwickshire CV11 5AA Tel: 024 7637 6376
Subject property for identification purposes only
20 Newdegate Street, Nuneaton, CV11 4EX
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.
