- Current rental income of £24,000 (Oct 2023)
- Highly reversionary
- Close proximity to Kenilworth Castle and Abbey Fields
- 10 year lease incorporating 3 -yearly reviews
Description
Set within a row of local businesses, 40 Castle Hill is comprised of a 620sqft retail unit along with a two-storey duplex living accommodation above. The living accommodation is not self contained and access is through the internal retail premise.
40 Castle Hill is occupied in its entirety on a 10 year lease from August 2022 with 3-yearly reviews on an FRI basis. The going rent is currently £24,000 per annum for the whole, with potential for significant reversion and splitting of the residential and commercial units. The ground floor is comprised of 3 eating areas, reception, kitchen and toilet facilities.
Above, the residential element is formed of 2 bedrooms, an office, kitchen, bathroom, with the principal bedroom on the 3rd storey.
Location:
40 Castle Hill, Kenilworth, is situated just a stones throw from Kenilworth Castle and is currently occupied by Time For Tea Prossers Ltd. The property is located directly opposite the castle and sits within a terraced block of SME units. Kenilworth Town Centre lies just 0.7km south-east of the property, with Coventry City Centre some 8 miles north.
40 Castle Hill benefits from tourism trade of Kenilworth Castle and the busy commuter passage through Clinton Road.
Tenure:
The entire property is currently let at £24,000 per annum on an FRI basis, with the exception of the windows and roof elements of the residential premise.
Potential for the purchase of the Time For Tea Prossers Ltd is also an option presented by Shepherd Commercial.
Rating Assessment:
Rateable Value: £4,350 for the retail ground floor element
VAT:
All prices and rents quoted are exclusive of VAT which may be applicable.
SALE:
£450,000
VIEWING:
Strictly by appointment with the Agents.
