INVESTMENT OPPORTUNITY

92,92a,92b & 94 QUEENS ROAD,

NUNEATON, CV11 5LE

 

 

*   PROMINENT COMMERCIAL

     PREMISES ON GROUND AND

     UPPPER FLOORS

 

*   LOCATED CLOSE TO TOWN CENTRE

 

 

    

 

 

 

*  

 OFFERS BASED UPON £300,000            FREEHOLD

*  CURRENTLY LET ON 4 INDIVIDUAL

    LEASES

 

*  TOTAL RENTAL PASSING

    £19,216 P.A. EXCLUSIVE

  

  

 

LOCATION

Nuneaton is a thriving market town situated to the North of the County of Warwickshire.  The town is located some 20 miles to the East of Birmingham City, 9 miles North of Coventry City and approximately 18 miles distance from Leicester City.  The town benefits from an access to junction 3 of the M6 Motorway which in turn provides good access to the motorway network.  There is also a main line railway station providing good road links to the Capital.

The airports of Coventry City and Birmingham City are also within easy commuting distance as is the National Exhibition Centre.

 

SITUATION

The parade is situated along Queens Road being the B4112 and being directly opposite a Lidl Store.  Nuneaton Town Centre is within easy walking distance of the subject property.  There are a substantial number of private individual premises adjacent carrying out a variety businesses including  Cash Convertors, Fast Food Takeaways, Clothing Shops, General Stores and Post Office.

 

Nuneaton Town Centre is well represented by High Street names such as Debenhams, Boots, TJ Hughes, Next, Marks & Spencers together with High Street Banks including Barclays, Lloyds TSB, Nat West and HSBC

 

DESCRIPTION

The subject premises comprise a two storey building of traditional brick construction with generally pitched and tiled roof.  The ground floor retail unit have good road frontage to Queens Road with 94 having a return frontage to Norman Avenue.  The first floor is in part let to a Dentist and in part to a Chemist.

 

ACCOMMODATION

 

92 QUEENS ROAD

Ground Floor

Front Retail

6.15m x 4.75m (20’2” x 15’7”)

Rear Retail

3.71m x 5.79m (12’2” x 19’)

 

92a QUEENS ROAD

Ground Floor Retail

5.94m x 2.95m (19’6” x 9’8”)

 

92b QUEENS ROAD

First Floor Accommodation

(Approx 920 sq ft)

 

94 QUEENS ROAD

Ground and First Floor Accommodation

(Approx 650 sq ft)

 

LEASES

92 Queens Road        Let to Mr D Sampey  -  for a term of 15 years from 3rd May 2002   -   Current rental passing £4960 per annum

                                 Rent Review every 4 years

 

92a Queens Road       Let to Dr S Rixon      -  for a term of 6 years from 13th October 2009 - Current rental passing £5060 per annum

                                 Rent Review every 4 years

 

92b Queens Road      Let to Mrs R Harandyzade  -  for a term of 3 years from 19th April 2010—Current rental passing £2860 per annum

 

94 Queens Road        Let to Deltab Limited  -  for a term of 6 years from 24th June 2010  -  Current rental passing £6336 per annum

                                 Rent Review every 4 years

 

The current users of the premises are:-

 

92 Queens Road        Ladies and Gentleman’s Hairdressers

 

92a Queens Road       Dentist (D1 of the Use Classes Order 1987)

 

92b Queens Road      Nail and Beauty Salon

 

94 Queens Road        Pharmacy

 

COVENANT INFORMATION

Details of the covenants relating to each of the demises can be obtained from the soled agent’s offices

 

TENURE

The property is understood to be freehold

 

VAT

VAT will be charged if appropriate

 

PROPOSAL

Our instruction from our clients are to seek offers based upon £300,000 subject to contract and exclusive of VAT if appropriate for their freehold interest subject to the existing leases

 

BUSINESS RATES

 

92 Queens Road   Rateable Value          £4250

 

92a      Queens Road  Rateable Value          £5500

 

92b      Queens Road   Rateable Value          £2375

 

94 Queens Road   Rateable Value          £4650

 

LEGAL COSTS

The purchaser will be responsible for both parties proper legal costs

                             

VIEWING

Strictly by prior appointment through the sole agents MESSRS COURSE & SHELTON, INDEPENDENT ESTATE AGENTS AND SURVEYORS

 MISREPRESENTATIONS ACT 1967

 

Messrs. Course & Shelton, for themselves and for the vendors or lessors of these properties whose agents they are give notice that

 

(i)       The particulars are set out as general outline only for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract;

(ii)      All descriptions, dimensions, references to condition and necessary permissions for the use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representation of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them;

     (iii)     No person in the employment of Messrs. Course & Shelton has an

               authority to make or give any representation or warranty whatever in 

               relation to these properties.