£1,500,000

Property for sale

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Freehold

£1,500,000

(£2,222.22/sq. ft)

Property for sale

Basement Browns, 77-79 Warwick Street, Leamington Spa CV32

From 675 - 1,240 sq. ft

Local area information

Property location

Nearby amenities

  • The Kingsley School 0.2 miles
  • St Peter's Catholic Primary School 0.3 miles
  • Leamington Spa 0.5 miles
  • Warwick 2.1 miles

These distances are calculated in a straight line. The actual route and distance may vary.

Features and description

  • Freehold
Key Points

  • Restaurant at ground floor and basement; 3 x 1 bed apartments and 3 x 2 bed apartments at upper floors
  • Current net income: £122,400 per annum
  • Ground floor and basement restaurant premises let on new lease
  • Good secure rental income from 6 x self-contained upper floor apartments
  • Proposed sale price of £1.5m exclusive showing a net initial yield of 7.71% following usual purchaser's costs of 5.8%

  • Description

    The property comprises a Grade II listed, four storey, mid terraced Regency building of traditional brick built construction with rendered front elevation, surmounted with pitched Welsh Slate roof and incorporating Sash windows and timber shop front. The ground floor and basement are currently let to Basement Browns Limited on effective full repairing and insuring terms by virtue of a service charge and are being used as a restaurant. The first, second and third floors comprise 3 x 1 bed and 3 x 2 bed self-contained apartments which are accessed off a separate doorway fronting Warwick Street. These are let on Assured Short Hold Tenancies or by way of Airbnb short term lettings.

    Viewings

    To arrange a viewing please contact:

    Bill Wareing - Wareing & Company

    Jon Blood - Wareing & Company

    Sheryl Hoare - Sanderson Weatherall

    Sandeep Sharma - Sanderson Weatherall

    Location

    The property is situated on the popular retailing pitch of Warwick 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 south east 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 speciality shopping. Retailers close by include Sofa's & Stuff who commenced trading in 2022, Mountain Warehouse, Waterstones, William Hill as well as Shoe Express, Boots and Coffee#1.

    Floor plans and tours

    Floor plans (1)

    Floor plan 1

    More information

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    Property descriptions and related information displayed on this page are marketing materials provided by - Sanderson Weatherall. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Sanderson Weatherall for full details and further information.

    1. Zoopla
    2. Commercial for sale
    3. Warwickshire
    4. Leamington Spa
    5. Warwick Street

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