Queens Road, Nuneaton

The property occupies a prime position within Nuneaton town centre adjacent to Greggs and McDonald's, two of the UK's most recognisable and largest food-to-go operators.

The property comprises a ground floor retail unit, currently trading as a gift shop with Thorntons franchise, and benefits from suspended ceilings with LED lighting, air conditioning and electric security roller shutter to the front. Internally, there is a partitioned store room and WC, along with loading access to the rear and a car parking space.

The first and second floors are included with the property and are subleased to McDonalds until 2063. We are advised that the first floor is used as an office and second floor as storage.

Queens Road is Nuneaton's prime retailing pitch, with nearby occupiers including Greggs, McDonald's, T.G. Jones, Waterstones, Coventry Building Society and HSBC. The entrance to the town's principal shopping destination, Ropewalk Shopping Centre, is situated approximately 50 metres from the property and is anchored by Next, TK Maxx and PureGym.

Nuneaton is the largest town in Warwickshire, with a resident population of 88,813 (2021 Census). The town is located approximately 24 miles east of Birmingham and 9 miles north of Coventry. Road communications are excellent, with Junction 3 of the M6 located approximately 5 miles to the south-west and convenient access to the M69, M1 and M42 motorways. Nuneaton railway station provides regular services to London Euston, with journey times from approximately 58 minutes.

Mains electricity, water and drainage are connected to the property, which benefits from air conditioning for heating and cooling.

The long leasehold interest in the property is available, subject to vacant possession of the ground floor, at an asking price of £185,000. Alternatively, the business is available by way of separate negotiation at a guide price of £75,000 to include stock, fixtures and fittings. If the business is not purchased, the vendor will require a delay between exchange and completion of approximately 12 weeks for a closing down sale.

The property is held long leasehold for a period of 150 years from 28 February 2007 (approximately 130 years unexpired) with a passing rent rent of £3,000 per annum. The Freeholder is Nuneaton & Bedworth Borough Council.

The first and second floors are included within the leasehold title and are subleased to McDonalds on a term expiring May 2063. We are advised that the passing rent is £3,000 per annum and there is a rent review due X.

Each party to bear their own legal costs.

EPC Rating - B(49)