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Freehold Investment Property, Leasehold Restaurants and a Residential Bedsit

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Freehold Investment Property, Leasehold Restaurants and a Residential Bedsit For Sale £700,000 Offers In Excess Of Freehold Investment Property, Leasehold Restaurants and a Residential Bedsit 4,373 Sq Ft (406.25 Sq M) 48/50 Earlsdon Street, Coventry, West Midlands CV5 6EJ Property Highlights Mr James Brookes • Restaurant Investment in popular, affluent, residential district. • Two leases in place, both for 10 year 024 7630 8900 terms and producing £45,780 per annum 07854 367 326 • Two residential bedsit areas in need of refurbishment [email protected] • Additional rental income from residential accommodation possible. • Restaurant tenants well known locally www.investingproperties.co.uk Location The property is located right at the heart of Earlsdon Street, the retail parade central to the most affluent area of Coventry City. Surrounding occupiers include, a Co-op and One Stop Convenience Stores, Lloyds Pharmacy, Greggs and Coventry Building Society. Coventry City Centre is 2km away, with the city central train station 1.5km, providing direct train line access to Birmingham and London both in under 1 hour. Description The property is mid terraced and of brick construction, under a flat roof. The ground floor is let to Da Vinci's, a well known and established Italian Restaurant, their accommodation includes restaurant seating area internally and with an external terrace, bar, kitchen, preparation area, cold store, male and female toilets. The first floor has separate access from both the front and rear of the property, the restaurant is leased to Allys Balti, a well known and established Indian Restaurant, their accommodation includes restaurant seating and bar area, kitchen, store rooms, male and female toilets. Also at first floor level is a separate first floor studio flat, in need of light refurbishment and a further area to the rear of the restaurant kitchen, with potential as a studio flat, again in need of light refurbishment. Both areas have separate utilities, access and balconies. The property has access to the rear for deliveries. Accommodation Description Sq Ft Sq M Ground Floor 2,038 189.33 First Floor 2,335 216.92 Total 4,373 406.25 Business Rates Rateable Value (2017) £39,500 Uniform Business Rates (2019/20) 0.491 (exclusive of water & sewerage) pence Tenure The property has two leases in place currently: Ground Floor - Antonio Di Maria (Da Vinci Restaurant), £33,300 per annum from 12th June 2017 for 10 years no break option, review at end of the 5th year. First Floor - Nurul Islam, Syen Ali and Fokhurul Islam, £12,480 per annum from 30th April 2012 for 10 years no break option. Services All mains services are connected. EPC Rating of D - 77 Viewing Strictly by appointment with the agent Bromwich Hardy. Legal Costs Each party is to bear their own legal and surveyors costs incurred in this transaction. Bromwich Hardy 024 7630 8900 1 The Cobalt Centre, Siskin Parkway East [email protected] Middlemarch Business Parkway, Coventry CV3 4PE www.bromwichhardy.com Misrepresentations Act 1967. Unfair Contract Terms 1977. Consumer Protection Regulations under Unfair Trading Regulations 2008. The Business Protection Regulations from Misleading Marketing Regulations 2008. These particulars are issued without any responsibility on Ad to rely. Neither the agent or any person in their employ has an authority to make or give any representation or warrant whatsoever in relation to the property. August 2019. Bromwich Hardy 024 7630 8900 1 The Cobalt Centre, Siskin Parkway East [email protected] Middlemarch Business Parkway, Coventry CV3 4PE www.bromwichhardy.com .
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