Commercial property for sale in Market Place, Rugby CV21

Description:

Residential conversion opportunity inluding 3 x retail units on busy high street parade, with planning for conversion of upper floors to 13 Apartments ( 7 X 2 Bedrooms and 6 X 1 Bedrooms)

The property comprises a substantial parade of commercial units in a highly prominent position within the town centre.

5 Market Place is attractive three-storey buildings with part stone and red brick façade that benefits from a return frontage to Little Church Street. It provides ground and first floor sales areas with ancillary space which are accessible via stairs at the front and rear of the property. There is further ancillary space at second floor.

5A Market place is let to Savers Health & Beauty Plc and comprises a ground floor retail unit with ancillary space at the rear. There is further sales and ancillary space at first floor which is accessed via stairs at the rear of the property. There is also ancillary space at second floor. The first and second floors are is not currently used by the tenant.

6 Market Place is let to Done Brothers (Cash Betting) Ltd (t/a Betfred) at ground floor only. There will be a separate entrance/lobby next to the ground floor entrance at will provide staircase access to the vacant space at first and second floors.

Planning:

On the 10 Feb 2021, application R20/0043, was granted consent for the proposed Change of Use of First Floor of 5,5b and 6 Market Place for 13 apartments (7 two-beds and 6 one-bed).

VAT

We understand VAT is payable. However, it is understood the sale would be treated as a togc.

Tenure:

This property is Freehold

One unit is currently vacant and two of the other commercial units are let and producing income of £62,000 p.a

See schedule below:

Unit 1 (5578 SqFt) - vacant- Potential Rental income of circa £40,000 p.a

Unit 2 (5178 SqFt)- Let to Savers Health and Beauty plc at £35,000 p.a

Lease Expiry- 2027

Unit 3 (1205 SqFt)- Let to Done Brothers (Cash Betting) Ltd (t/a Betfred) at £27,000 p.a

Lease Expiry- 2032

location:

Rugby is a market town in Warwickshire and has a population of approximately 70,000. It lies approximately 28 miles east of Birmingham, 22 miles south of Leicester and 21 miles north west of Northampton.

The town is located at the heart of the motorway network with convenient access to the M1, M6 and M45, meaning 90% of the UK population can be reached within a 4.5 hour drive time.

Rugby train station is located at the northern edge of the town centre is on the West Coast Main line providing direct links to London, Birmingham and Manchester.

A study undertaken by Halifax in 2020 ranked Rugby as the 15th best place to live in the UK and the best in the West Midlands.

The property is prominently located in a prime pedestrianised trading location fronting Market Place at the heart of Rugby town centre. Retailers in the immediate vicinity include Betfred, wh Smith, Greggs, Pandora, Caffe Nero, Card Factory, Savers, Vodafone, Boots, Vision Express.

Viewings

Strictly by appointment through The opa.

Buyers fee

Buyer's Reservation Fee of 2% of The Purchase Price. Minimum Fee £2400. (All fees inclusive of VAT). T&Cs apply.

The opa’s “Secure It Now Exclusivity Package”

This property is being offered under The opa’s “Secure It Now Exclusivity Package”

This is an innovative secure and straightforward way to purchase this property.

Here are the benefits for you:

• Secure your dream property straight away

• Properties are realistically priced

• Similar to a “normal” or “conventional” sale with a few measures to protect the buyer and the seller

• Focuses on speed

• Mortgage buyer friendly

• Suitable for first time buyer

• Mortgage buyers and cash buyers compete on equal terms

• No competitive bidding

• No risk of being gazumped

• Minimises risk of fall throughs

Secure It Now Exclusivity Package - How does it work?

Our sellers are motivated and willing to price their properties competitively in order to ensure a fast and secure sale.

You can now secure the purchase with a buyer’s “Secure It Now Exclusivity fee “ of 2% which includes :

• A legally binding contract granting the buyer exclusive rights to purchase the property within a given timeframe (usually 56 days / 8 weeks )

• Paying the Exclusivity Fee ensures that the seller takes their property off the market as soon as the sale is agreed and reserves it exclusively for you.

• This prevents the risk of gazumping and the

• helps you avoid losing money and wasting time which most buyers like you may face with the traditional estate agent's approach.

• You get a fixed exclusivity period (approximately 8 weeks) to complete, safe in the knowledge that you will not be gazumped or outbid by another buyer.

Step 1 - Register your interest

Step 2 - Sort out your finances

Step 3 - Arrange a viewing / Virtual Tour

Step 4 - Make an offer

Step 5 - Secure your purchase using our buy and Secure It Now Exclusivity package

Step 6 - Exchange and completion

Next Steps – Do Not Miss Out -

Please note this is a realistically priced property and is likely going to create a fair amount of buying interest. If you're interested in buying this property, we'd urge you to contact us immediately to avoid losing out.

Please note this is a non-refundable exclusivity fee in addition to the purchase price.

1: Money laundering regulations - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale. 2: These particulars do not constitute part or all of an offer or contract. 3: The measurements indicated are supplied for guidance only and as such must be considered incorrect. 4: Potential buyers are advised to recheck the measurements before committing to any expense. 5: All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; 6: No persons in the employment of The opa has any authority to make or give any representation or warranty whatever in relation to this property. No services, fixtures, fittings or appliances, including central heating, have been tested by the Agent at the time of printing. All references to parts of the fabric, material, decoration, external or internal features or grounds of the property are made without any warranty as to their conditions or effectiveness. Where definite checks have been made, such results will be made clear at the appropriate place in the particulars of sale. Every effort has been made by the Agents to obtain accurate information from the correct sources. However, intending purchasers and other readers are asked to make their own arrangements regarding verification of any statements expressed in these particulars of sale.

“Please be advised that this property may have been owned by the current seller for under six months, or the seller may have the exclusive right to sell the property. If you require any further clarification, please speak to a representative of The opa.”

Any reference to, or use of any part of the property is not a statement that any necessary planning, building regulations or other consent has been obtained. All photographs shown are indicative and cannot be guaranteed to represent the complete interior scheme or items included in the sale. No person in our employment has any authority to make or give any representation or warranty whatsoever in relation to this property.

In accordance with Section 21 of the Estate Agents Act 1979 an interest is declared in that the vendor of the property is a relative of a Partner of THE ONLINE PROPERTY AGENCY LTD

Misrepresentation Act 1967: The opa for themselves and for the vendors or lessors of this property whose agents they are, give notice that: (1) These particulars do not amount to, nor amount to any part of, an offer or contract. (2) None of the statements contained in these particulars should be relied on as statements or representations of fact, therefore all prospective purchasers or tenants must satisfy themselves as to their accuracy.