CEX, Leamington Spa

Property Description

• Freehold blue-chip retail and office investment.
• 116 The Parade:
  • Freehold retail investment
  • Whole building of 3,786 sq ft arranged over four floors.
  • Ground floor let to blue-chip retail tenant and the residential uppers are unoccupied
• 61 Bedford Street :
  • Freehold office Investment.
  • 1,000 sq ft arranged over ground and first floor.

Location Description

• Royal Leamington Spa is an attractive and affluent town located in Warwickshire approximately 2 miles east of Warwick, 8 miles south of Coventry and 18 miles south-east of Birmingham.
• Nearby occupiers include Laura Ashley, Betfred, Halifax and a short walk to House of Fraser.

Tenancy

• 116 The Parade:
  • Whole building let to C.E.X Limited for a term expiring 2029 (TBO 2024)
  • Current rent of £45,015 with the next rent review in 2024
  • CeX now trades from 600 stores around the globe with operations in 11 countries across four continents.
• 61 Bedford Street:
  • Rear office Let to XXVII Management Limited for a term expiring January 2025 (with personal guarantee) at a current rent of £7,500 p.a. (rolling break option).

Additional Information

• Neighbouring property has planning granted for change of use of first floor from office to residential and erection of a second floor extension to create 3 flats.