13-15 Jury St
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13-15 Jury St
2,198 SF 100% Leased Retail Building Warwick CV34 4EH $484,580 ($220/SF) 7.35% Cap Rate
Investment Highlights
- To the rear of the building is a walled yard/garden area with some scope for development
- Bray House is situated in the heart of the county town of Warwick, Jury Street being the principal arterial road running through the town centre
- 5 Ground Lease Extension Negotiation Opportunities
- A central passageway with gate provides access to 8 one-bedroom apartments, which are located on the first and second floors
- Total Rental Income £28,700 per annum
Executive Summary
OFFERS BASED ON £390,000 - Subject to Contract with the benefit of the leases in place
Tenant - Lavelle Bridal Couture Lease Term - 5 years from 19th August 2022
Current Passing Rent - £13,000 per annum, exclusive, from 19th August 2024 (currently £12,500 per annum)
Repairing Liabilities - Internal Repairing and Insuring
Landlord & Tenant Act 1954 - Held within the Act
15 Jury Street, Warwick
Tenant - ehB Residential Lettings (Warwick)
Lease Term - 5 Years from 9th September 2022
Current Passing Rent - £15,450 per annum, excl’ Repairing Liabilities - Internal Repairing and Insuring, contributing up to £500 per annum to the building service charge
Tenant Break – At the third anniversary
Landlord & Tenant Act 1954 - Held within the Act
Flats to Upper Floors
Flats 2, 5, 6, 7 and 8 are held subject to 99 year reversionary leases from 1st Jan 1980 at £50 pa (increases to £100 pa from 1st Jan 2046)
Flats 1, 3 and 4 have had lease extensions
Tenant - Lavelle Bridal Couture Lease Term - 5 years from 19th August 2022
Current Passing Rent - £13,000 per annum, exclusive, from 19th August 2024 (currently £12,500 per annum)
Repairing Liabilities - Internal Repairing and Insuring
Landlord & Tenant Act 1954 - Held within the Act
15 Jury Street, Warwick
Tenant - ehB Residential Lettings (Warwick)
Lease Term - 5 Years from 9th September 2022
Current Passing Rent - £15,450 per annum, excl’ Repairing Liabilities - Internal Repairing and Insuring, contributing up to £500 per annum to the building service charge
Tenant Break – At the third anniversary
Landlord & Tenant Act 1954 - Held within the Act
Flats to Upper Floors
Flats 2, 5, 6, 7 and 8 are held subject to 99 year reversionary leases from 1st Jan 1980 at £50 pa (increases to £100 pa from 1st Jan 2046)
Flats 1, 3 and 4 have had lease extensions
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
2,198 SF
Building Class
B
Year Built
1964
Price
$484,580
Price Per SF
$220
Cap Rate
7.35%
NOI
$35,617
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.69
Lot Size
0.07 AC
Frontage
23 FT on Jury St
Amenities
- Bus Line
- Storage Space
1 of 1
Nearby Major Retailers
1 of 15
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13-15 Jury St
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