Commercial Property
The property comprises a three storey brick built mid terrace, surmounted by a pitched tiled roof. To the rear there is a single storey extension with a flat roof.
The property is currently configured to provide a retail unit, trading as a Drink Buster Off-Licence, with associated stores on the ground floor and a spacious self-contained duplex maisonette over, comprising a large lounge, kitchen, two bedrooms and bathroom.
The property is prominently situated fronting northern side of Cranes Park Road, near its junction with Church Road and Sheaf Lane in a parade of similar properties.
The property is situated within a well established predominately residential neighbourhood, considered to provide an excellent immediate catchment area for its existing use.
The property benefits from good access to the local road and motorway network via the nearby main A45 Coventry Road and junction 6 of the M42 motorway.
We understand that the property is Freehold, subject to the following tenancies:-
Retail - Let by way of a 15 year Lease, with effect from the 25th March 2016, at a current rent of £9,500 per annum. There is provision for a rent review every four years.
Living Accommodation - Let by way of an Assured Shorthold Tenancy, at a rent of £450 per calendar month (£5,400 per annum). We understand that the existing tenant has been in occupation since 2012.
Further details and copies of the Lease Agreements will be available for inspection within the legal pack.
We understand that VAT will not be chargeable on this transaction.
Strictly by arrangement with the Auctioneers.
Freehold. Commercial investment.
