31 Regent Street

At a glance

Key Points

• Current passing rent £57,600
• Excellent rental uplift potential
• Great Town Centre location
• Proposal Sale Price: £650,000 excl. showing a net initial yield of 8.45% following usual purchaser’s costs of 4.88%.
• Reversionary income potential £72,300 per annum excl. which is reflective of a net initial yield of 10.61%.
• Comprising Restaurant at Ground floor and basement, 1 x 2 bed apartment (potential for 4 bed HMO subject to licensing), 1 x 2 bed apartment & 1 x 1 bed apartment.

Description

The property itself comprises:

A Grade II Listed, 4 storey, mid terraced, Regency building.
Traditional Brick Built construction with rendered front elevation, surmounted with pitched Welsh Slate roof and incorporating Sash Windows and timber shop front.
Apartment 1 – Located over second and Third floor comprises a two-bed apartment with Kitchen/dining room and shower room (potential for 4 bed HMO subject to licensing).
Apartment 2, Located on First floor, comprises 2 bed apartment with kitchen/dining room and shower room.
Apartment 3 - Located over First and second floor, comprises a 1 bed apartment with kitchen/diner and shower/wc.

The Location

The property is situated on the popular retailing pitch of Regent Street, right in the heart of Leamington Spa town centre and a short distance from The Parade (the town’s primary retailing pitch).

Royal Leamington Spa is an attractive and affluent Spa town located in the heart of Warwickshire, approximately 2 miles east of Warwick, 8 miles South of Coventry and 18 miles southeast of Birmingham.

The town provides an attractive retail environment, comprising Regency and Victorian architecture set along wide, boulevard style streets. The town boasts a wide range of major national retailers as well as high end boutique style retailers and strong independent provision for both fashion and specialty shopping.

The immediate area comprises a great mixture of independent retailers and restaurants.

EPCs

Ground & Basement: A 25
Flat 1 79 Warwick St: C 74
Flat 2 79 Warwick St: C 77
Flat 3 79 Warwick St: D 63
Copies of all EPC’s can be made available upon request.

Rates / Council Tax

Ground & Basement: Rateable Value (from 1st April 2023) £11,250
Flat 1: Council Tax Band B
Flat 2: Council Tax Band A
Flat 3: Council Tax Band A

Price

Guide Price £650,000 excl. (six hundred and fifty thousand pounds) exclusive.
We are advised that the property is NOT elected for VAT