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1-11 Leicester Street, Bulkington, CV12 9NQ
FREEHOLD INVESTMENT PROPERTY FOR SALE 1-11 LEICESTER STREET BULKINGTON CV12 9NQ
• Exciting Opportunity To Acquire A Block Of Property Comprising Three Ground Floor LockLock-Up Shop Units With Three Spacious Three Bedroomed SelfSelf-Contained Duplex Flats Over • Prominently Situated Fronting Leicester Street (The Main Shopping Area) In The Popular Warwickshire Village Of Bulkington • Current Gross Annual Income of £31,700 £31,700 With Potential To Increase • Price: Offers Around £595,000
1-11 Leicester Street, Bulkington, CV12 9NQ LOCATION
GROUND FLOOR
The premises are prominently situated fronting Leicester Street (the main shopping area and a one way street) in the popular Warwickshire Village of Bulkington.
1 Leicester Street (shop)
The property is located amongst a number of predominantly local and national concerns (CoOperative Food store, Spar, William Hill, etc) and adjacent to The White Lion Bar and Restaurant.
Briefly comprising partitioned incorporating a kitchen area, accommodation and WC at the rear. NIA: NIA:
retail space with storage
80. 80.78m² 78m² (870 (870ft²) 870ft²)
5 Leicester Street (shop)
There is limited stay parking to the front of the premises.
Briefly comprising partitioned retail space with separate male and female WCs at the rear.
The property is conveniently situated for the larger centres of Bedworth (2 miles), Nuneaton (4 miles), Hinckley (7 miles), Coventry (7 miles), and Leicester (18 miles), etc, and is also well located for the motorway network, M6 (3 miles), M69 (5 miles), M1 (14 miles), etc (all distances are approximate).
NIA:
Bulkington, which is understood to have a population of about 6,146, is located within the Nuneaton and Bedworth Borough Council area, with a borough population of 125,252 (figures taken from the 2011 Census).
54.96m² (591ft²)
9 Leicester Street (shop) Briefly comprising partitioned retail space incorporating a kitchen/storage area, with separate male and female WCs at the rear. NIA:
56.85m² (612ft²)
FIRST & SECOND FLOORS 3, 7, & 11 Leicester Street (flats)
DESCRIPTION The available block forms part of a parade of similar units comprising shops on the ground floor with residential accommodation above. The premises are constructed principally of brick set mainly under a pitched tiled roof with tile clad upper elevations. Comprising three lock-up shop units (Nos. 1, 5 and 9 Leicester Street) on the ground floor, with three spacious self-contained three bedroomed duplex flats over (Nos. 3, 7 & 11), each having front and rear balconies. The flats, which also benefit from uPVC double glazing, are accessed from the rear of the property (off Leicester Court). The shops and flats are all currently occupied and the property is being sold as an investment. A copy of the tile plan is attached (for reference only – not to scale) - title information (boundaries, any rights of way, etc) to be confirmed by the vendors’ solicitors during the usual pre-contract enquiries. ACCOMMODATION All measurements are approximate and on a Net Internal Area (NIA) basis.
The flats are accessed independently from the rear of the property and have their own external ground floor store rooms. Each flat has a Lounge/Dining Room, Kitchen and WC on the first floor, with three bedrooms and a bathroom on the second. There are balconies to the front and rear at first floor level. VAT All prices and rents mentioned in these details and any subsequent correspondence are exclusive of VAT, if applicable. FIXTURES AND FITTINGS All items usually classed as tenant’s fixtures and fittings and not mentioned in these details are excluded from any sale. SERVICES All main services are understood to be available, subject to connection charges by the utility companies. No tests have been applied.
1-11 Leicester Street, Bulkington, CV12 9NQ TENURE Rateable Value: The premises are available freehold, subject to the occupational tenancies 1 Leicester Street (shop) Trading as Rawhide Tattoo & Body Piercing, the unit is let on a five year lease with effect from 12 June 2014 (subject to a rent review/tenant’s break clause at the end of the third year) – the current passing rent is £6,000 per annum (effective full repairing and insuring terms). 5 Leicester Street (shop) Trading as Gina’s Hair and Beauty, the unit is let on a five year lease with effect from 1 April 2014 – the current passing rent is £5,500 per annum (effective full repairing and insuring terms).
£5,800
3, 7 & 11 Leicester Street (flats) Each flat is in Council Tax Band A Prospective purchasers are recommended to make their own enquiries for verification. LOCAL AUTHORITY Nuneaton and Bedworth Borough Council Coton Road Nuneaton Warwickshire CV11 5AA Tel: 024 7637 6376 ENERGY PERFORMANCE RATINGS
9 Leicester Street (shop) Trading as Kim Bows Cards and Gifts the unit is let on an oral tenancy at £4,000 per annum. 3 Leicester Street (flat) Let on an oral tenancy at £450 per calendar month (ie £5,400 per annum).
1 Leicester Street (shop) 3 Leicester Street (flat) 5 Leicester Street (shop) 7 Leicester Street (flat) 9 Leicester Street (shop) 11 Leicester Street (flat)
Band D Band E Band E Band F Band D Band E
7 Leicester Street (flat) Let on an oral tenancy at £450 per calendar month (ie £5,400 per annum).
VIEWING
11 Leicester Street (flat) Let on an oral tenancy at £450 per calendar month (ie £5,400 per annum).
LOVEITTS COMMERCIAL Telephone: 024 7622 8111 e-mail: [email protected] (Ref. SRE)
The shops and flats therefore provide for a total gross annual income of £31,700 with potential to increase. PURCHASE PRICE Offers around £595,000. COSTS Each party to pay their own legal costs. RATING We understand from the Valuation Office Agency website that the current assessments are:1 Leicester Street (shop) Rateable Value:
£7,000
5 Leicester Street (shop) Rateable Value: 9 Leicester Street (shop)
£5,500
By arrangement with:-
1-11 Leicester Street, Bulkington, CV12 9NQ
For reference only – not to scale
Subject property for identification purposes only
1-11 Leicester Street, Bulkington, CV12 9NQ
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.
FREEHOLD INVESTMENT PROPERTY FOR SALE 1-11 LEICESTER STREET BULKINGTON CV12 9NQ
• Exciting Opportunity To Acquire A Block Of Property Comprising Three Ground Floor LockLock-Up Shop Units With Three Spacious Three Bedroomed SelfSelf-Contained Duplex Flats Over • Prominently Situated Fronting Leicester Street (The Main Shopping Area) In The Popular Warwickshire Village Of Bulkington • Current Gross Annual Income of £31,700 £31,700 With Potential To Increase • Price: Offers Around £595,000
1-11 Leicester Street, Bulkington, CV12 9NQ LOCATION
GROUND FLOOR
The premises are prominently situated fronting Leicester Street (the main shopping area and a one way street) in the popular Warwickshire Village of Bulkington.
1 Leicester Street (shop)
The property is located amongst a number of predominantly local and national concerns (CoOperative Food store, Spar, William Hill, etc) and adjacent to The White Lion Bar and Restaurant.
Briefly comprising partitioned incorporating a kitchen area, accommodation and WC at the rear. NIA: NIA:
retail space with storage
80. 80.78m² 78m² (870 (870ft²) 870ft²)
5 Leicester Street (shop)
There is limited stay parking to the front of the premises.
Briefly comprising partitioned retail space with separate male and female WCs at the rear.
The property is conveniently situated for the larger centres of Bedworth (2 miles), Nuneaton (4 miles), Hinckley (7 miles), Coventry (7 miles), and Leicester (18 miles), etc, and is also well located for the motorway network, M6 (3 miles), M69 (5 miles), M1 (14 miles), etc (all distances are approximate).
NIA:
Bulkington, which is understood to have a population of about 6,146, is located within the Nuneaton and Bedworth Borough Council area, with a borough population of 125,252 (figures taken from the 2011 Census).
54.96m² (591ft²)
9 Leicester Street (shop) Briefly comprising partitioned retail space incorporating a kitchen/storage area, with separate male and female WCs at the rear. NIA:
56.85m² (612ft²)
FIRST & SECOND FLOORS 3, 7, & 11 Leicester Street (flats)
DESCRIPTION The available block forms part of a parade of similar units comprising shops on the ground floor with residential accommodation above. The premises are constructed principally of brick set mainly under a pitched tiled roof with tile clad upper elevations. Comprising three lock-up shop units (Nos. 1, 5 and 9 Leicester Street) on the ground floor, with three spacious self-contained three bedroomed duplex flats over (Nos. 3, 7 & 11), each having front and rear balconies. The flats, which also benefit from uPVC double glazing, are accessed from the rear of the property (off Leicester Court). The shops and flats are all currently occupied and the property is being sold as an investment. A copy of the tile plan is attached (for reference only – not to scale) - title information (boundaries, any rights of way, etc) to be confirmed by the vendors’ solicitors during the usual pre-contract enquiries. ACCOMMODATION All measurements are approximate and on a Net Internal Area (NIA) basis.
The flats are accessed independently from the rear of the property and have their own external ground floor store rooms. Each flat has a Lounge/Dining Room, Kitchen and WC on the first floor, with three bedrooms and a bathroom on the second. There are balconies to the front and rear at first floor level. VAT All prices and rents mentioned in these details and any subsequent correspondence are exclusive of VAT, if applicable. FIXTURES AND FITTINGS All items usually classed as tenant’s fixtures and fittings and not mentioned in these details are excluded from any sale. SERVICES All main services are understood to be available, subject to connection charges by the utility companies. No tests have been applied.
1-11 Leicester Street, Bulkington, CV12 9NQ TENURE Rateable Value: The premises are available freehold, subject to the occupational tenancies 1 Leicester Street (shop) Trading as Rawhide Tattoo & Body Piercing, the unit is let on a five year lease with effect from 12 June 2014 (subject to a rent review/tenant’s break clause at the end of the third year) – the current passing rent is £6,000 per annum (effective full repairing and insuring terms). 5 Leicester Street (shop) Trading as Gina’s Hair and Beauty, the unit is let on a five year lease with effect from 1 April 2014 – the current passing rent is £5,500 per annum (effective full repairing and insuring terms).
£5,800
3, 7 & 11 Leicester Street (flats) Each flat is in Council Tax Band A Prospective purchasers are recommended to make their own enquiries for verification. LOCAL AUTHORITY Nuneaton and Bedworth Borough Council Coton Road Nuneaton Warwickshire CV11 5AA Tel: 024 7637 6376 ENERGY PERFORMANCE RATINGS
9 Leicester Street (shop) Trading as Kim Bows Cards and Gifts the unit is let on an oral tenancy at £4,000 per annum. 3 Leicester Street (flat) Let on an oral tenancy at £450 per calendar month (ie £5,400 per annum).
1 Leicester Street (shop) 3 Leicester Street (flat) 5 Leicester Street (shop) 7 Leicester Street (flat) 9 Leicester Street (shop) 11 Leicester Street (flat)
Band D Band E Band E Band F Band D Band E
7 Leicester Street (flat) Let on an oral tenancy at £450 per calendar month (ie £5,400 per annum).
VIEWING
11 Leicester Street (flat) Let on an oral tenancy at £450 per calendar month (ie £5,400 per annum).
LOVEITTS COMMERCIAL Telephone: 024 7622 8111 e-mail: [email protected] (Ref. SRE)
The shops and flats therefore provide for a total gross annual income of £31,700 with potential to increase. PURCHASE PRICE Offers around £595,000. COSTS Each party to pay their own legal costs. RATING We understand from the Valuation Office Agency website that the current assessments are:1 Leicester Street (shop) Rateable Value:
£7,000
5 Leicester Street (shop) Rateable Value: 9 Leicester Street (shop)
£5,500
By arrangement with:-
1-11 Leicester Street, Bulkington, CV12 9NQ
For reference only – not to scale
Subject property for identification purposes only
1-11 Leicester Street, Bulkington, CV12 9NQ
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.
