A rare potential residential conversion opportunity in prime central location in Royal Leamington Spa has come on the market with commercial property agents Bond Wolfe.
Three attractive Regency buildings at 53-57 The Parade are for sale with a guide price of £2.1 million.
The property is situated in the centre of Royal Leamington Spa’s prime pitch – The Parade.
James Mattin, managing director at Bond Wolfe, said: “53-57 The Parade has considerable potential for the future conversion of the upper floors to residential, subject to planning permission.
“Currently, the three buildings provide retail, ancillary and office accommodation with approximately 10,228 sq ft arranged over basement, ground and three upper floors.”
The scheme has a current total annual rental income of £114,500, and is fully let to four tenants with 58% of the current income secured against Telefonica UK Ltd t/a O2 and Toni & Guy (South) Ltd t/a Toni & Guy.
Royal Leamington Spa is one of the Midlands’ most popular places to live and is known for its beautiful, historic architecture. A short walk through town takes visitors past a variety of Georgian and early Victorian buildings.
The town has nearby links to the M40 and the national motorway network and has fast connections to London by rail with direct trains taking as little as one hour 16 minutes.
It also has beautiful Warwickshire countryside on its doorstep and is just 12 miles from Stratford-upon-Avon.
For further details, please contact jmattin@bondwolfe.com and view here.
