Bray House, 13-15 Jury Street, Warwick, Warwickshire, CV34 4EH

Property Details: • Type: Ask agent • Tenure: N/A • Floor Area: N/A

Key Features: • Retail Investment For Sale • Total Rental Income £28,700 Per Annum from August 2024 • 5 Ground Lease Extension Negotiation Opportunities • Excellent Town Centre Location • Growth Potential • Rear Garden & Flat Access

Location: • Nearest Station: Warwick Station • Distance to Station: 0.4 miles

Agent Information: • Address: Somerset House Clarendon Place, Royal Leamington Spa, CV32 5QN

Full Description: DescriptionTown centre retail investment comprising an interesting early 1960s brick and concrete structure with eight ground lease flats to upper floors and rear yard. LocationBray House is situated in the heart of the county town of Warwick, Jury Street being the principal arterial road running through the town centre, becoming High Street. The location is identified on the attached street map. The town centre of Warwick is an impressive collection of fine period buildings dating back to the 15th Century. However in 1068 Warwick Castle was founded and from that date has been embellished and extended to the current impressive market town. It is now one of the favoured locations in the country for culture, business and residing. ServicesMains electricity and water are connected to Bray House.Tenure13 Jury Street, Warwick Tenant - Lavelle Bridal CoutureLease Term - 5 years from 19th August 2022Current Passing Rent - £13,000 per annum, exclusive, from 19th August 2024 (currently £12,500 per annum)Repairing Liabilities - Internal Repairing and InsuringLandlord & Tenant Act 1954 - Held within the Act15 Jury Street, Warwick Tenant - ehB Residential Lettings (Warwick)Lease Term - 5 Years from 9th September 2022Current Passing Rent - £15,450 per annum, exclusiveRepairing Liabilities - Internal Repairing and Insuring, contributing up to £500 per annum to the building service chargeTenant Break - At the third anniversaryLandlord & Tenant Act 1954 - Held within the ActFlats to Upper FloorsFlats 2, 5, 6, 7 and 8 are held subject to 99 year reversionary leases from 1st Jan 1980 at £50 pa (increases to £100 pa from 1st Jan 2046)Flats 1,3 and 4 have had lease extensionsPlanningUser Class E at ground floor with C3 on the 1st and 2nd floors.RentPriceOFFERS BASED ON £390,000 - Subject to Contract with the benefit of the leases in place.VAT is not applicable.Rates13 Jury Street - The rateable value for the current year is £15,500.15 Jury Street - The rateable value for the current year is £18,250.Service ChargeA service charge is levied by the landlord which is administered to all eight residential flat owners. The service charge is collected to cover a fair percentage of the repair, maintenance and decoration of the structure of the building and also has established a reserve fund for the repair and replacement of the flat roof. The current fund for the roof stands in excess of £25,000. The landlord does contribute 34% of the external repairing costs and reserve roof fund. Legal CostsEach party will be responsible for their own legal costs.EPCEPC - 13 Jury Street E 102EPC - 15 Jury Street E 123Retail Investment For SaleTotal Rental Income £28,700 Per Annum from August 20245 Ground Lease Extension Negotiation OpportunitiesExcellent Town Centre LocationGrowth PotentialRear Garden & Flat Access