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Lot 33 Sold: £740,000

16–20 Regent Street, Rugby, Warwickshire CV21 2PY

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Lot 33   Click here for addendum

(GROSS YIELD 8.6%)
6 Week completion

SITUATION

In a very prominent trading position close to a number of cafés and offices as well as being within 50 yards of the Rugby Theatre and nearby multiples such as Fine & Country, Connells, Oxfam, Lloyds, Prezzo and The Clock Towers Shopping Centre.
Rugby is an attractive market town which lies some 11 miles east of Coventry and 18 miles north-west of Northampton on the A428, approximately 3 miles from the M6 (J1) which connects with the M1 (J18) and also within 3 miles north of the M45.

PROPERTY

An attractive Grade II Listed building constructed in the 1800s (completely refurbished in 2014) originally as a department store and now comprising a fashionable Café/Bar with seating for 220 people planned on ground, basement and part first floors with separate front access to 7 Self-Contained Flats at part first floor and the entire second floor. In addition, the property benefits from a courtyard and also a bin store area at the rear.

TENANT PROFILE

Loungers Ltd opened its first branch in Bristol in 2002. The company now operates from approx. 86 Lounge Cafés nationwide with plans to open 20 more per year.
T/O for Y/E 26/04/15 £48m, Pre-Tax Profit £1.7m and Shareholders' Funds £4.7m.

Enquire about this lot:

Photo of JONATHAN ROSS

Jonathan Ross
020 8492 9449
jross@barnettross.co.uk

Photo of ELLIOTT GREENE

Elliott Greene
020 8492 9449
egreene@barnettross.co.uk

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.