Tim Cox Property To Let
30 High Street, Stratford Upon Avon
Location : Stratford Upon Avon
Date Available: 18/01/2024
Overview
The premises occupies a prominent location on the High Street which is a popular and busy location in the town centre. The Grade II listed property comprises a lock up shop on the ground floor with basement stores/kitchen and on the upper floors there are two residential flats with a separate entrance from the High Street. The ground floor and basement are let to Artique Galleries Limited at a rent of £60,000 per annum and the upper floors are let on a 999 year lease at a peppercorn rent.
Type: Freehold commercial investment for sale
Size: 169.6 sqm / 1,826 sqft
Price: POA
Full Description
SITUATION
The property occupies a prominent location on the High Street which is a popular and busy location surrounded by many multiple retailers.
ACCOMMODATION
The premises comprise a Grade II listed property with a lock up shop on the ground floor and basement, with a separate entrance from the High Street to the upper floors which have been recently converted to two residential flats. The ground floor
accommodation comprises:
Frontage 22’9” (6.93 sq.m)
Internal width 21’3” (6.48m)
Max width 27’3” (8.30m)
Sales area 1,826 sq.ft (169.6 sq.m)
Basement stores/kitchen 440 sq.ft (40.8 sq.m)
Separate WC - -
Please note :Every effort has been made to ensure that the above floor areas are accurate. They are in accordance with the Code of Measuring Practice. Fittings restricted measurement at the time of inspection. Interested parties should verify these for themselves.
TENURE
Freehold, subject to a 999 year lease on the upper floors and subject to a separate commercial lease on the ground floor and basement.
GROUND FLOOR/BASEMENT
The ground floor and basement is let to Artique Galleries Limited on a 10 year lease from 6th October 2021 on full repairing and insuring terms at a rent of £60,000 per annum, with an upward only rent review after 5 years. There is a tenant’s only break clause at the end of year 5, giving 6 months prior notice.
UPPER FLOORS
The upper floors have been converted to residential use and are let on a 999 year lease from 11th October 2019 at a peppercorn rent without review. The lease is effectively a full repairing and insuring lease. Offers in the region of £700,000 are invited for the freehold interest, subject to the two tenancies.
RATEABLE VALUE
Ground floor/basement: £53,000 from 1st April 2023.
Please Note : We believe that for certain tenants that there may be no liability to pay rates, however this office gives no warranty that the rating values supplied and the sums of
money expressed as being payable are accurate and the purchaser/tenant must rely upon their own enquiries with the Local Authority on 01789 267575 or https://www.gov.uk/correct-your-business-rates
LEGAL COSTS
The purchaser will be responsible for both side’s legal costs in this matter.
VAT
The landlords elect to charge VAT.
EPC
Shop: Band D
Flat 1: Band C
Flat 2: Band C
VIEWING
Strictly by appointment with Tim Cox Associates.