5-6 High Street, Coventry, CV1 5RE

Location

Location

The property is situated in a prominant corner location in the heart of Coventry city centre on the pedstrianised High Street at its junction with Pepper Lane and opposite Greyfriars Lane. The premises also overlook Broadgate and Cathedral Lanes which itself is becoming one of Coventry’s leading leisure destinations with occupiers to include Five Guys, Wagamamas Tortilla, Botantist and Cosy Club.

Other occupers in close proximity inclue Tesco Express, Virgin Money, Subway, TSB Bank and Lloyds Bank.

Description

The property comprises a modern three storey building fully occupied by HSBC Bank with a banking hall benefitting from return frontage on the ground floor and offices on the two upper floors.

Floor Areas

Ground floor Sales and offices – 147.53 sq m / 1588 sq ft
First floor offices – 98.85 sq m / 1,064 sq ft
Second floor offices – 97.83 sq m / 1,053 sq ft

Terms

Freehold FOR SALE, subject to the following tenancy:

The property is let to HSBC Bank on a lease for a term of 10 years from 21 November 2016 at a rental of £56,500 per annum. The lease is held on full repairing and insuring terms and incorporates a tenant only break at the fifth anniversary, which has now passed.

EPC

Energy Performance Certificate available upon request

Rates Comments

Rateable Value £37,250
Rates Payable £18,587.75

Interested parties are advised to make their own enquiries with the Local Authority (Coventry) for verification purposes.
.

Money Laundering

In accordance with Anti Money Laundering Regulations, two forms of ID and confirmation of the source of funding will be required from the successful applicant. For a company, any person owning more than 25% must provide the same.

Legal Costs

Each party will be responsible for their own legal costs incurred in the transaction.

VAT

All figures quoted are exclusive of VAT which we understand will not be applicable.

Summary

Key points

• Opportunity to acquire a freehold investment
• City Centre location
• Fully let to HSBC Bank
• Longer term development potential
• Guide Price – Offers around £625,000

Contact

Burley Browne Limited
Tel: 0121 362 1530
David Hemming
david.hemming@burleybrowne.co.uk
www.burleybrowne.co.uk

EPC