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  • Warwick House, Long Street, Atherstone, Warwickshire CV9 1JP

    Freehold Investment/Development opportunity For Sale

  • Warwick House, Long Street, Atherstone, Warwickshire CV9 1JP

    www.vailwilliams.com

    INVESTMENT SUMMARY

    Located20milesnorth-east ofBirmingham

    Towncentrelocation

    Three-storeyofficebuildingwith groundfloorretail

    17carparkingspaces

    Freehold

    Totalarea603.50sqm(6,494sqft)NIA

    PartlettoLloydsChemist,theremainderoftheaccommodationvacant

    Opportunitytoincreasetheofficearea

    Changeofusepotentialtoresidential

    Price:300,000subjecttocontract

    48.32psfCapitalValue

  • Warwick House, Long Street, Atherstone, Warwickshire CV9 1JP

    www.vailwilliams.com

    LOCATIONAtherstoneisamarkettowninthedistrictofNorthWarwickshire located108milesnorth-westofLondon,20milesnorth-eastofBirminghamand16milesnorthofCoventry.

    Thetownbenefits fromexcellent roadcommunicationssituatedadjacenttotheA5andA444whichprovidesdirectaccesstotheM6,M42andM69motorways.ItistheadministrativeheadquartersoftheNorthWarwickshireDistrictCouncil.Ithasapopulationof8,000andactsastheadministrativecentreforthedistrictwhichhasapopulationof60,000.

    Rail services to London Euston are provided from Atherstone mainlinerailwaystationwiththefastestjourneytimeofapproximatelyonehourand18minutes.

    SITUATIONThe property is situated inAtherstone Town Centre, on thecornerofLongStreetandRatcliffeStreet.LongStreetistheprincipalretailing street in Atherstone.A public car park is situateddiagonally opposite theproperty,ontheothersideofLongStreet.

    LongStreet

  • Warwick House, Long Street, Atherstone, Warwickshire CV9 1JP

    www.vailwilliams.com

    ACCOMMODATIONWehavemeasuredthepropertyinaccordancewiththeRoyalInstitutionofCharteredSurveyorsCodeofMeasuringPractice(6thEdition).

    AREA SQ FT (ITZA) SQ M (ITZA)Ground Floor

    Unit1Sales 1,015(832) 94.3(77.29) Unit2Office 618 57.41

    Unit3Sales 726(618) 67.45(57.13)First Floor*Offices/kitchenarea 2,060 191.75Second Floor*Offices/kitchens/server room

    2,075 192.59

    TOTAL 6,494 603.50

    DESCRIPTIONThepropertycomprisesa3-storeybuildingwith2retailunitsatgroundfloorlevel andoffice accommodation at ground, first and second floor levels.Thepropertyisofbrickconstructionunderapitchedroofconstructedinthe1980s.Lloydsthechemistoccupythecornerunit(Unit1)whichhasareturnfrontagetoRatcliffeStreet.Units2and3frontRatcliffeStreet.

    Themainentrancetotheoffices isfromRatcliffeStreetwithanentrancehallatgroundfloorlevelleadingtoastaircaseandan8personpassengerlift. Internally theofficescompriseperimeter trunking,gasfired radiators,suspendedceilings,recessedlightingandsingleglazedcasementwindows.

    Acorridorrunsdownthecentreoftheofficeaccommodationatfirstandsecondfloorlevelswithofficesuitesleadingoffthecorridorsoneachside.MaleandfemaleWCsareprovidedwithintheofficeaccommodationatfirstand secondfloor level.Adisabled toilet isprovidedwithin theofficesatgroundfloorlevel.Eachfloorhasitsownkitchen.

    *Acorridorrunsdownthecentreoftheofficeaccommodationonthefirstandsecondfloors.Itwouldbepossibletoremove this in order to increasethelettableareatoapproximately292sqm(3,150sqft)forthefirstandsecondfloors.

    LONGSTREET

  • Warwick House, Long Street, Atherstone, Warwickshire CV9 1JP

    www.vailwilliams.com

    TENUREFreehold.

    TENANCY

    FLOOR/AREA TENANT RENT

    LEASE TERMS COMMENTS

    Unit 1LloydsChemistRetailLtd

    12,25025yearsfrom 10/4/1989

    Tenantholdingover.New10 yearleaseagreedatrentof15,000pa.Rentreviewandbreakinyear5.Threemonthspenaltyrent.Insolicitorshands.

    Unit 2 Vacant ERV 8psfFormerlyoccupiedbyWarwickshireCountyCouncilatarentof5,600pa.

    Unit 3 Vacant ERV 8psfFormerlyoccupiedbyTCSEstatesatarentof7,600pa.

    First & Second Floor Office

    Vacant ERV 7psfFormerlyoccupiedbyWarwickshreCountyCouncilatarentof36,000pa.

    TENANTS COVENANTLloyds Chemist Retail Limited areasubstantialpharmaceuticalcompany.

    CAR PARKINGThepropertyhasthebenefitof17markedcarparkingspaceslocatedinthecarparktotherearoftheproperty.

    Thesiteareaextendstoapproximately0.117hectares(2.89acres).

  • Warwick House, Long Street, Atherstone, Warwickshire CV9 1JP

    www.vailwilliams.com

    www.vailwilliams.com

    VIEWINGStrictlybyappointmentthrough

    thesoleagents.

    Foraccesstothedataroompleaseemail LizDixon:ldixon@vailwilliams.com

    CONTACT

    Julian Walker jwalker@vailwilliams.com

    023 8082 0905 07836 774 406

    Matthew Barkermbarker@vailwilliams.com

    023 8082 0958 07919 591 495

    VailWilliamsLLPMeridiansHouse

    7OceanWay,OceanVillageSouthamptonSO143TJ

    MISREPRESENTATION ACT 1967

    VailWilliamsforthemselvesandforthevendorsorlessorsofthisproperty,whoseagentstheyare,givenoticethat:1.Theparticularsaresetoutasageneraloutlineonlyfortheguidanceofintendedpurchasersorlesseesanddonotconstitutenorconstitutepartofanofferorcontract.2.Alldescriptions,dimensions,referencetoconditionandnecessarypermissionsforuseandoccupation,andotherdetailsaregivenwithoutresponsibilityandanyintendingpurchasersortenantsshouldnotrelyonthemasstatementsorrepresentationsoffactbutmustsatisfythemselvesbyinspectionorotherwiseastothecorrectnessofeachofthem.3.NopersonintheemploymentofVailWilliamshasanyauthoritytomakeanyrepresentationorwarrantywhatsoeverinrelationtothisproperty.FinanceAct1989Unlessotherwisestated,allpricesandrentsarequotedexclusiveofValueAddedTax(V.A.T.).AnyintendingpurchasersorlesseesmustsatisfythemselvesindependentlyastotheincidenceofV.A.T.inrespectofanytransaction.September2014.MapsreproducedfromanOrdnanceSurveymapwiththepermissionofthecontrollerofHerMajestysStationeryOffice,CrownCopyrightreserved.ExperianGoadDigitalPlansincludemappingdatalicensedfromOrdnanceSurveywiththepermissionoftheControllerofHerMajestysStationeryOffice.CrowncopyrightandExperiancopyright.Allrightsreserved.LicensenumberPU100017316.

    CONVERSION POTENTIALThereisapotentialtocovertthefirstandsecondfloorstoresidentialaccommodationunderpermitteddevelopmentrights.

    PRICE300,000, subject to contract, to show an initial yield of 4.78%and areversionary yield of 17.2% based on the ERV of 53,960 pa afterpurchaserscostsof4.5%.

    VATThepropertyisVATregistered.WewouldenvisageanysalebeingundertakenbywayofaTransferofaGoingConcern.

    EPCThepropertyhasEPCratingsasfollows:

    1stfloor C-71Unit1 C-62Unit2 C-63Unit3 B-49

    Thereportsareavailableinourdataroom.

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