About this property
The property is situated in the heart of the city centre, occupying a prominent position on the corner of New Buildings, by the pedestrian entrance to the Cathedral Quarter which contains many of Coventry’s most popular tourist attractions including Coventry Cathedral, St. Mary’s Guildhall and Holy Trinity Church. Also ideally located for the city’s central Shopping Quarter, the property is directly opposite Primark and West Orchards Shopping Centre and amongst many multiples including Nando’s, McDonald’s, KFC, Wilko, Greggs, Ladbrokes and Sainsbury’s whilst being within a ¼ of a mile of Coventry University. Coventry is a major commercial city located some 18 miles east of Birmingham, 9 miles north of Warwick and enjoying easy access to the M6 (Junctions 2 and 3).
An attractive medieval style building comprising a Large Public House planned on ground and first floors with internal access to 2 Self-Contained Flats plus Ancillary Accommodation on the second floor. In addition the property benefits from a Roof Terrace on the first floor.
Offers in the region of £600,000 are sought for the Freehold interest, subject to contract.
We are advised that VAT does not apply in this instance, however, prospective purchasers should satisfy themselves in this regard.
Available upon request
The entire property is let on a full repairing and insuring lease to K/S Coventry, England (a company incorporated in Denmark) and underlet to J.D. Wetherspoon – for a term of 35 years from 18/1/1999 to 17/1/2034 , with an option to determine the lease on the 18/01/2024, at a passing rent of £175,000 per annum exclusive. The lease is subject to five yearly upward only rent reviews, the next being on 18/1/2019. A copy of the lease is available upon request via the selling agents.
Ground Floor Public House
Gross Frontage 149’2″
Internal Width 128’5″
Pub Depth 56’2″
Built Depth 70’1″
GIA Approx. 5,220 sq ft
First Floor Public House
Seating/ Bar/ Beer Store
Ladies & Gents WC
GIA Approx. 3,730 sq ft
2 Flats: Each 2 Bedrooms, Living Room, Kitchen, Bathroom/WC
Ancillary Accommodation incl.
Staff changing room and dining room plus storage.
GIA Approx 3,220 sq.ft
TOTAL GROSS INTERNAL AREA Aprrox. 12,170sq.ft.
Plus 685 sq.ft. Roof Terrace.
In accordance with Anti-Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful Purchaser.
- * GROUND RENT INVESTMENT *
- Fully let producing £16,000 per annum exclusive.
- Occupied J.D. Wetherspoon.
- Freehold—Offers in the region of £600,000
- Rent review (upward only) in 2019.
- Total GIA—12,170 sq.ft.