£30,000.00 (Freehold)

For Sale - Ground Leases

Call the Stratford upon Avon branch on 01789 415 444 or email commercial@peterclarke.co.uk

LOCATION
WARWICK is a thriving mediaeval town, situated on the River Avon, offering a range of shopping, sporting, social and recreational facilities and the principle tourist attraction of Warwick Castle. It is within easy reach of many of the industrial and commercial centres of the Midlands, and the Cotswolds are close at hand.

The larger town of Leamington Spa is within three miles and Stratford upon Avon approximately seven miles distant. Junction 15 of the M40 motorway at Longbridge enables good communication to the Midlands conurbation via the M42, M5 and M6, as well as affording a straightforward route to London and the south. Furthermore, Warwick Parkway station provides a direct rail link to Birmingham and London Marylebone.

WEST STREET is at the town end of Stratford Road, one of the principle routes into Warwick from Longbridge roundabout.

DESCRIPTION
Comprising a substantial three-storey building with two self-contained ground floor lock up shops, four flats and a town house, together with private driveway, parking and garaging to the rear.

TERMS
GROUND LEASES/TENANCIES

Residential Properties
Flat 1 - Lease expiry 2175 (149 years unexpired). Peppercorn ground rent.
Flat 2 - Lease expiry 2175 (149 years unexpired). Peppercorn ground rent.
Flat 3 - 99 years from 1st January 1986. Lease expiry 2085 (66 years unexpired). Ground Rent £50 per annum
(increased to £50 29th September 2019)
Flat 4 - 99 years from 1st January 1986. Lease expiry 2085 (65 years unexpired). Ground Rent £50 per annum (increased to £50 29th September 2019)
House 5 - 99 years from 1st January 1986. Lease expiry 2085 (65 years unexpired). Ground Rent £50 per annum (increased to £50 29th September 2019)

Commercial Properties
Shop 1 - A new lease expiring 2175 (149 years unexpired). Peppercorn ground rent.
Shop 2 - A new lease expiring 2175 (149 years unexpired).

Total Income £150 per annum

VAT
All prices and rents are quoted exclusive of VAT which may be payable in addition to the purchase price, although we are advised that the vendor has not currently elected to charge VAT in addition to the rents.

LEGAL COSTS
Each party is to be responsible for their own legal costs incurred in the transaction.

VIEWING
Viewing of the residential properties is not possible as these are sold off on long leasehold interests.