Harefield Road, Nuneaton

LEASEHOLD INVESTMENT OPPORTUNITY - BUSINESS UNAFFECTED. The subject property comprises prominent retail premises located within the Abbeygate shopping centre in Nuneaton town centre. Adjacent occupiers include Savers, Scope, TUI, Subway & Greggs

The property benefits from a prominent frontage to Harefield Road with roller security shutters. To the ground floor, there is a retail sales area, rear sales area and ancillary stores. To the first floor, there is a further office/store and WC facilities.

We are advised that there are two car parking spaces included with the property.

The property is located within the Abbeygate shopping centre in the heart of Nuneaton town centre, with a prominent frontage onto Harefield Road. Harefield Road links Nuneaton's main bus station with the pedestrianised centre of Nuneaton, centered around Market Place and Queens Road.

Nuneaton is the largest town in Warwickshire, population circa 91,334 (2020 estimate), and is located approximately 24 miles east of Birmingham and 9 miles north of Coventry. Motorway access to the town is extremely good, being 5 miles north of the M6 junction 3 and having good links to the M69/M1 and M42 motorways. Rail services to London Euston are available from Nuneaton via the West Coast mainline with a shortest journey time of approximately 58 minutes. Major facilities include the Abbeygate Shopping Centre and Ropewalk Shopping Centre.

We understand mains electricity, water and drainage are connected to the subject property.

The long leasehold interest in the subject property is available, subject to the lease in effect, at an asking price of £140,000, which reflects an attractive net initial yield of 12%.

The headlease is for a term of 99 years from 5 November 1967 (approx. 40 years unexpired) at a ground rent of £1 per annum.

The occupational lease is for a period of 5 years from 27 August 2025 at a passing rent of £17,000 per annum exclusive to Dollface Studio Ltd with a personal guarantee from the Director. There is an upwards only rent review at the end of year 3 and the lease is full repairing and insuring.

Each party to bear their own legal costs.

EPC Rating - D(97)