Warwick, Warwickshire, CV34
For Sale: £250,000 for the Freehold
1,495 Sq Ft (138.89 Sq M)
Mixed Use Investment For Sale
Grade II listed four storey building with cellar
Rare redevelopment project opportunity
Strong reletting prospects
Period building close to Eastgate and Warwick Castle
Highly attractive location for local retail outlets
Planning and listed building consent in place
On street parking immediately opposite
Please note - use of shop restricted to retail
The property is believed to be of Georgian construction and is a mid-terrace building which appears to also incorporate remnants of a medieval timber framed structure in part. Elevations are brick and the property has sash windows and revealed timber frames internally. The property includes two impressive stone fire surrounds and stack.
The two bedroom flat is requiring a complete internal refurbishment including electrics, plastering, kitchen and bathrooms, etc. Significant preliminary works have been completed including new stairs, flooring, some stud partitioning. New water, gas and electricity supplies have been connected, pending installation of meters. The water supply is shared with the ground floor shop.
The shop has a glazed new frontage with glazed door and the retail area has been separated from the residential parts and is tiled with new wiring for service connections. There is also access to a cellar. The kitchen area and WC and lighting need to be completed and there is a suspended ceiling in place in the retail area.
On completion, the accommodation will comprise:-
Ground floor lock-up retail shop with new shop front and WC extending to 275 sq ft (25.5 sq m).
Residential/ Yard - There is access from Gerrard Street into a small garden area and a door to the ground floor lobby with space for a utility area and stairs leading to first floor kitchen, large first floor living room with stone fireplace, two substantial second floor bedrooms, large third floor bathroom plus ancillary room. The gross internal area is 1,220 sq ft (113.3 sq m).
The property is Grade II listed. Planning and listed building consent were granted for refurbishment works (Reference: W14/0025, 0226LB, 1003 and 1139) for 2 bedrooms with scope for a third. We are advised that all pre-construction conditions have been signed off by Warwick District Council and that proposed works have been approved for the purposes of Building Control.
The property is situated to the south-west of the popular A429 Smith Street amongst an eclectic variety of local traders including butchers, restaurants, takeaways and hair salons, close to the historic Eastgate and former buildings of Kings High School in the heart of Warwick Town Centre, close to Castle Lane and Warwick Castle itself. Smith Street is a highly vibrant and sought after location. The residential parts have a separate rear access from Gerard Street.
The property is close by to the residential development site of the former Kings High School.
David Penn
Contact us with any queries about the property or to book a viewing
02476 308 900 david.penn@bromwichhardy.comCharlie Glover
Contact us with any queries about the property or to book a viewing
024 7630 8900 charlie.glover@bromwichhardy.com