1 November 2023: Wednesday 01 November 2023 - 9:00am
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Floorplan
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    Key features

    • Investment let at £139,162 pa (1) (9.94% on Guide Price)
    • Comprises a ground floor (and basement) restaurant along with six flats
    • Well located in affluent spa town, close to the Parade
    • Restaurant to be let on a new 10 year lease
    • Comprises 409 sqm (4,401 sq ft) over ground, basement and three upper floors
    • Includes vacant 1 bedroom flat (used as an AirBnB)
    • VAT is not applicable

    Description

    The property comprises a four storey building arranged as a ground and basement floor restaurant, together with six flats on first, second and third floors (3x 2 bed and 3x 1 bed).

    Additional information

    Tenure

    Freehold.

    Accommodation

    Please see Tenancy and Accommodation Schedule

    Rent

    £139,162 pa (1)

    Notes

    (1) In 2022, the Vendor listed the flat on Airbnb and it was booked for 314 nights of the year. The booked earnings for 2022 was £22,390 (see legal pack for more information)

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Accommodation / Tenancy Schedule

      Local information

      Royal Leamington Spa is an attractive spa town located 2 miles east of Warwick and 11 miles south of Coventry. The property is situated on the north side of Warwick Street, a short distance from it's junction with the Parade, the town main retail thoroughfare. Occupiers close by include William Hill, Mountain Warehouse, Boots, McDonalds, Barclays Bank, Oliver Bonas and WHSmith amongst many others.

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums