93-95 Bedford Street

At a glance

Key Points

• Excellent Town Centre building
• Within close promimity of Leamington Railway Station
• Available freehold with a current income of £44,356 PAX, if fully occupied £69,869 PAX
• Reflective of 8.05% NIY (on full occupancy)
• May be suitable for residential conversion (STPP)

Description

The property comprises a modern, 3 storey office building with rendered and recently decorated front elevations incorporating a shop front style at ground floor and aluminum framed windows to the upper levels.

The property is thought to have been constructed in the 1990’s for Barclays bank as their business centre. Since, the property has been multi occupied (see tenancy schedule at bottom of this page).

Internally, the property benefits from foyer area at ground floor, lift access, largely open plan office suites and shared WC’s at ground and second floor. The common areas have also only recently been redecorated.

Full virtual tour available below image on this page.

The property may be suitable for residential conversion (STPP) and an architect's sketch scheme can be made available (on request) for the 12 studio apartments.

Available area

The accommodation comprises the following areas:

The Location

The property is situated to the south of Bedford Street, a short walk from Dormer Place and the Pump Room Gardens.

It is located centrally within Leamington Spa, a short walk from Parade (the town’s prime retail location) and other local amenities.

Royal Leamington Spa is an attractive and affluent Spa town located in the heart of Warwickshire. It is popular amongst gaming companies and other employers who can benefit from the town's links to Warwick University and their graduates.

The town is only 5 miles from Junction 13 & 14 of the M40 Motorway and is situated approximately 2 miles east of Warwick, 8 miles South of Coventry and 18 miles southeast of Birmingham.

Furthermore, the building is only a ten-minute walk from Leamington Spa Station, providing access to London Marylebone (1hr 15 mins), Birmingham New Street (45 mins) and Birmingham Airport/NEC (30 mins).

SAT NAV: CV32 5BB

Services

We understand that all mains services are connected to the site however, interested parties are advised to satisfy themselves that this is the case and that they are in good working order. The agents have not tested any apparatus on site and therefore, cannot verify the conditions.

Planning

We understand that the property has the benefit of planning permission for User Class E purposes (General Office Use). Interested parties are advised to make their own enquiries of Warwick District Council Planning Department on 01926 456760.

Business Rates

Rateable Value Ground: £26,500
Rateable Value First: £30,750
Rateable Value Second: £18,750

Service Charge

A service charge is levied to contribute towards the cost of the electricity to communal areas, gas supply to the entire building, water and sewage charges, internal cleaning to common areas, waste management, internal repairs and maintenance to communal areas and external repairs and maintenance. This is re-charged to the tenants and is currently run by Harris Lamb. Service charge accounts can be made available upon request.

Tenure

The property is available freehold subject to the occupational tenancies as stated in the schedule on page 4 of these details. Guide Price £825,000 Excl. VAT which we believe is applicable.

EPC

Ground: C 54
First: B 37
Second: E 111

Anti Money Laundering

The Money Laundering Regulations require us to conduct checks upon all Purchasers including Tenants. Prospective Purchasers will need to provide proof of identity and residence. For a company any person owning more than 25% must provide the same.