Commercial Property
False
The canal basin is situated immediately outside Coventry City Centre Ring Road (A4053) and accessed via either Leicester Row or Nicholas Street. A great deal of sympathetic restoration of period buildings and redevelopment of modern office accommodation has taken place to create a vibrant mixed atmosphere, attracting other uses including residential, arts, crafts, offices, retail and A3 uses.
The Council has created a footbridge over the Ring Road linking the development with the retail heart of Coventry City Centre. There is a significant amount of modern new housing developed nearby at Drapers Fields and Electric Wharf.
As such the property is considered to occupy a good position for a variety of uses, subject to the appropriate planning consent being within a area that continues to be enhanced.
The premises form the ground floor of an attractive residential canalside development, completed in 2004/5 and is offered in a shell condition with services capped off and ready for occupiers fitout.
We have not been able to undertake a measured survey, but we understand that the property extends to approximately 4,410 sq.ft. (410 sq.m.).
We further understand that the premises had Planning Permission for a variety of uses, including Class A1 (Shops), A2 (Financial & Professional Services), A3 (Restaurants & Cafes), A4 (Drinking Estbalishments) and A5 (Hot Food Takeaways) of the Planning (Uses Classess) Order. We understand that the various permissions have now lapsed and as such, all uses are subject to obtaining the appropriate planning consents and interested parties should make their own enquiries as to their proposed future use by contacting the local planning department within Coventry City Council.
Commercial Vacant Possession
A Long Leasehold Leisure/Business Premises within an Attractive Canalside Setting, considered suitable for a range of uses, subject to obtaining the appropriate Planning Permission
The property is offered on a Long Leasehold basis for approximately 115 years unexpired and subject to a fixed ground rent of £1,000 per annum. We understand that the Long Leasehold is subject to contribution to a service charge and insurance. Full details will be available within the legal pack. Vacant possession will be available upon completion.
We understand that VAT is chargeable on this transaction.
Strictly by arrangement with the Auctioneers. Please contact Ian Tudor on 0121 237 4850.
