16 Warwick Road, Kenilworth, Warwickshire, CV8 1HE

Lot Image

Auction sale - Monday 11th December 2017

Result:

Sold for £362,000

Upon the instructions of

A major UK Bank
  • Freehold former banking hall and ancillary accommodation totalling about 2,286 sq ft (212.37 sq m)
  • Asset management opportunity and possible residential conversion in part, subject to consents
  • Vacant possession (plus £2,000 per annum from ATM)

Viewings

12:00pm on Friday 24 November 2017
11:00am on Monday 4 December 2017

Details

Location

Summary: The property is located on Warwick Road at its junction with Barrow Road, opposite Costa Coffee.
Miles: University of Warwick 3 miles, Coventry 6 miles
Roads: B4103, A452, A46
Rail: Warwick, Coventry
Nearby Occupiers: Greggs, Robert Dyas, Costa Coffee, Waitrose, Zizzi

Description

A former banking hall with ancillary accommodation to the rear and first floor offices, totalling about 2,286 sq ft (212.37 sq m) on net internal basis. There is also a small rear yard and an ATM machine to the front. The property occupies a prominent town centre corner position and would suit investors/owner occupiers or developers. There is scope to convert to residential to the rear of the former bank as well as at first floor, subject to obtaining all necessary consents.

Tenure

Freehold

Planning

Warwick District Council (01926 456536) www.warwickdc.gov.uk

VAT

Refer to the legal documentation

Energy Performance Certificate

See website

Address Tenant Floor Use Sq M Sq F Lease Terms Rent £ pa Rent Review
TOTAL 212.37 2,286 2,000
16 Warwick Road Vacant Ground First Banking hall/offices Ancillary storage 126.53 85.84 1,362 924 Vacant
ATM NatWest Bank ATM 5 years from completion (1) 2,000
The measurements have been provided by the vendor and are on a net internal basis.
(1) there is a tenant's break clause at the end of the third year, subject to 6 months notice.

Joint auctioneers

GVA

Contact

Seller's solicitor

DLA Piper

Alice Rusling

0113 369 2844

alice.rusling@dlapiper.com

* Guide price

An indication of the seller’s current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

* Reserve price

The seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

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