90 Warwick St
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90 Warwick St
1,718 SF Retail Building Leamington Spa CV32 4QG $443,644 ($258/SF) 6% Cap Rate
Investment Highlights
- Town centre retail investment with two upper floors and basement
- basement storage and further storage/office accommodation at first and second floor level
- The property comprises a mid terraced Grade II Victorian building
Executive Summary
For Sale (Freehold) subject to a an occupational lease, and subject to full repairing and insuring terms of the whole.
90 Warwick Street is currently let to SCOPE, a charity founded in 1957 and opening their first charity shop in 1970.
The charity turned over in excess of £41,000,000 for the year ended March 2022. The building is held subject a ten year lease which commenced on 25th March 2019, expiring on 24th March 2029.
The lease contains a tenant only break clause dated 24th March 2023. The current passing rent is £21,000 per annum; however, from 25th March 2025 the rent can be reviewed and will become payable at £26,000 per annum as a minimum, deemed the current market rent.
90 Warwick Street is currently let to SCOPE, a charity founded in 1957 and opening their first charity shop in 1970.
The charity turned over in excess of £41,000,000 for the year ended March 2022. The building is held subject a ten year lease which commenced on 25th March 2019, expiring on 24th March 2029.
The lease contains a tenant only break clause dated 24th March 2023. The current passing rent is £21,000 per annum; however, from 25th March 2025 the rent can be reviewed and will become payable at £26,000 per annum as a minimum, deemed the current market rent.
Property Facts Sale Pending
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
1,718 SF
Building Class
B
Year Built
1882
Price
$443,644
Price Per SF
$258
Cap Rate
6%
NOI
$26,619
Tenancy
Single
Building Height
4 Stories
Building FAR
0.90
Lot Size
0.04 AC
Frontage
19 FT on Warwick Street
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90 Warwick St
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