Property for sale

SITUATION

The premises are situated in Meer Street, in the centre of Stratford upon Avon adjoining The Minories Shopping Arcade.

DESCRIPTION

The property is a Grade II listed two storey building with a pitched roof and modern extensions to the rear. There is rear servicing and parking for two cars.

Café area (for approx 40 covers) 1,006 sq ft (93.4 sq m)

Fully fitted kitchen 135 sq ft (12.5 sq m)

Office/stores 73 sq ft (6.8 sq m) Separate wc’s

Main area: 690 sq ft (64.1 sp m)

Ancillary: 283 sq ft (26.3 sq m)

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.

GROUND FLOOR

The ground floor is let to The Kenilworth Snug Limited for 7 years from 17th January 2022 at a rent of £30,000 per annum, subject to a rent review on 17th January 2026. There is a rent deposit of £7,500. The tenant contributes 50% to the service charge and this is capped at £2,500, with annual RPI increases. There is a schedule of condition attached to the lease.

FIRST FLOOR

The first floor is let to Jane Clayton as a hairdressing salon for 5 years from October 2018 at a rent of £12,000 per annum. The tenant contributes 50% to the service charge. The lease is contracted outside the security provisions of the Landlord and Tenant Act 1954 Part II. Discussions are taking place for the tenant to renew for a further five years.

SALE PRICE

Offers in the region of £595,000 for the freehold, subject to both leases

FLOOR PLANS

Available on request

PARKING

There are 2 spaces allocated to the ground floor tenant on a license.

RATEABLE VALUE

Current: Ground Floor £26,500 and First Floor £15,000

From 1st April 2023:  Ground Floor £23,750 and First Floor £13,500

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[use Contact Agent Button] 

LEGAL COSTS

Each party will be responsible for their own legal costs incurred in the transaction.

VAT

We understand that VAT is not payable on the sale price.

EPCs

Available on request

VIEWING

By prior appointment with the sole Agents.