74 Parade, Leamington Spa, WAR

The property comprises a mid terraced four storey Regency building which has been extended to the rear at ground and first floor levels.
The property is located in one of the best retailing locations within Royal Leamington Spa. The unit is situated at the centre of the prime retailing pitch, directly opposite the entrance to The Royal Priors Shopping Centre.

The town is situated approximately 11 miles (17.6 km) south of Coventry, 20 miles (32 km) south east of Birmingham and 95 miles (152 km) north west of London.

Sale Notes:
The investment opportunity comprises the entire building.
Offers in excess of £1,530,000 are sought, subject to contract and exclusive of VAT for the freehold interest in this property. A purchase at this level would represent a net initial yield of 5.25% assuming normal purchasers costs of 5.8%.
The entire property is let to A Jones & Sons Limited on a full repairing and insuring lease for a term of 15 years from the 13th October 2006 (approximately 10 years and 1 month unexpired) at a passing rent of £85,000 per annum. The lease is subject to 5 yearly upward only reviews with the next review due on 13th October 2011.