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45/46 Rother Street
Location : Stratford upon Avon
Date Available: 14/02/2025
Overview
FREEHOLD INVESTMENT/DEVELOPMENT OPPORTUNITY FOR SALE
Situated just a few minutes’ walk from Stratford town centre, an investment opportunity with an income from the shops, offices, flats and car park and planning permission to create two flats and further development potential, subject to Planning Permission.
Type: Freehold Investment/Development Opportunity For Sale
Price: Offers in the region of £1,150,000
Overview
SITUATION
The premises are situated on Rother Street, just a few minutes’ walk from the town centre and close to the market square and entrance to Bell Court, with its many bars, restaurants and shops. Stratford upon Avon is located on the banks of the River River Avon, approximately 22 miles south of Birmingham and 8 miles south west of Warwick. The A46 gives good access to the M40 (J15) and the motorway network. There are railway stations in the town and Birmingham International Airport is approximately 40 miles away.
PROPERTIES
No. 45/45a. Rother Street
Comprising a detached two storey building of brick construction with a pitched tile roof and glazed shop front. The property was formerly two units but now provides one retail unit although both entrances remain in place. Ground floor sales with storage to the rear and first floor sales, storage and kitchenette. Small office and wc on the ground floor.
No. 45b (The Coach House) Rother Street
Situated at the rear and comprising a detached building of brick construction with a pitched roof and upvc double glazed windows. The accommodation comprises cellar offices; reception, store room, kitchen and wc on the ground floor and an open plan office on the first floor.
No 46. Rother Street
A 3 storey property of brick construction with a pitched roof and timber frame windows. The accommodation comprises basement (currently used as a tattoo studio with wc facilities); ground floor with two self-contained offices each with two rooms and wc facilities. First and second floors providing self-contained offices (currently vacant but with planning permission to convert to residential use on part).
Car Park.
Pay and display car park at the rear which provides 22 spaces. We understand that 5 spaces are allocated to the tenants and the remaining 17 spaces are income generating through pay and display.
SCHEDULE OF INCOME/FLOOR AREAS
Available from the Agents
LEASES/LICENSES
We understand that all the leases/agreements are internal repairing only. The tenants contribute to a share of the buildings insurance and the landlords are responsible for the structure and external repairs. A copy of the leases and agreements are available from the Agents
Smart Parking operate the 17 spaces on the car park on a 3 year agreement, from 2024. The landlord receives 80% of the income which is currently in excess of £40,000 pa. Smart Parking are looking to increase the charges shortly, which will increase the income to the vendor. A copy of the current charges is available from the Agents.
PLANNING PERMISSION
Planning exists to convert part of the first floor of 46 Rother Street into a one bedroom flat and a two bedroom penthouse flat on the second floor. Planning ref: 23/00647/FUL.
It may be possible to obtain planning permission to create further residential units in No. 46.
FLOOR PLANS
Existing floor plans are available for Nos 45B and 46 Rother Street and a site plan.
GUIDE PRICE
Offers in the region of £1,150,000
SERVICES
We understand that all mains services are connected.
EPC'S
Available from the Agents
LEGAL COSTS
Each party will be responsible for their own legal costs in the transaction.
VAT
We understand that VAT is not payable on the sale price.
VIEWING
Strictly by appointment with Tim Cox Associates. Telephone 01789 269444.