Retail unit and flats for sale in Stratford-upon-Avon

This property is marketed by:
Colliers

Description

The premises comprise a Grade II* listed property with a ground floor lock up shop on the ground floor and basement. The upper floors have been recently converted to two residential flats with a separate entrance from the High Street. The basement is currently occupied by the tenant as staff WC, stock room and staff kitchen, along with a large stockroom to the rear to facilitate online fulfilment. The property is dated back to c.1600 and restored in 1918 with an attractive timber frame façade. Property comprises Gross Internal Area (GIA) 2,266 sq ft (210.4 sq m)

Location

Stratford-upon-Avon is a highly affluent, medieval market town in Warwickshire in the West Midlands. It is the birthplace of William Shakespeare and benefits from the spending of a significant number of tourists and visitors in the town. In 2022 visitor levels bounced back to pre pandemic levels with 15 million trips undertaken by visitors to the county in 2022 with a total value to the Warwickshire economy of £1.27bn. Pre Pandemic Stratford town itself boasted approximately 2.7m visitors to the town at a value of £239m. The town lies on the River Avon and is situated 24 miles south east of Birmingham and 92 miles north west of London.

Situation

The property is prominently situated on the High Street, one of the main retail pitches in the town. The property’s location on the High Street benefits from footfall generated towards Sheep Street and subsequently the Swan Theatre, and likewise is at the entrance of Bell Court. Bell Court is the in town Shopping Centre that functions as a retail and leisure destination with the anchor tenant, Everyman Cinema. Adjacent to the property is the former Debenhams which is to be redeveloped into a new retail and hotel destination. Nearby occupiers include Waterstones, Lush, Robert Dyas, Starbucks, Jo Malone and HSBC.

Offers in excess of £700,000

A purchase at this level would reflect a Net Initial Yield of 8.14%

Subject to contract and exclusive of VAT. Yields are net of purchaser's costs of 5.30%