Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises an assisted living childrens residential care home arranged across ground and first floors.
Accessed from Broad Lane, the property features a large driveway to the front with parking for approximately six vehicles. Internally, the property features five bedrooms, kitchen, living room and associated bathrooms and other ancillary areas.
To the rear the property features a large garden.
The property is let on an internal repairing and insuring lease to Dimensions Care Limited for a term of 25 years expiring 05/08/2046 and paying a rent of £59,904 per annum (after Vendors top up).
The property is situated in a principal commuter suburb of Coventry, therefore the surrounding area is predominantly laid to residential use, with some out-of-town retail amenity to the south.
Tenure
Freehold
Tenancy
The property is let to Dimensions Care Limited on a 25 year lease expiring 05/08/2046 and paying a rent of £57,600 per annum. The Vendor will top up the rent to £59,904 per annum to the next rent review (06/08/2024).
The lease is on internal repairing and insuring terms and includes three yearly rent reviews linked to the Retail Price Index (RPI), the next review is 06/08/2024.
The lease includes a tenants break option 06/08/2036 and every 5th year thereafter.
Planning
Whilst there are no extant planning consents, several other properties on the street have been split to provide two semi-detached residential units. There therefore may be long term potential to convert the property to residential use and provide multiple units (subject to the existing lease and any requisite consents).
Rent