Period Office INVESTMENT Building
Summary
- Heart of Cultural Quarter
- Rare Virtual Freehold
- Overlooking Queens Gardens
- Tenanted Investment Opportunity
- Fully Income Producing
- Large Rear Garden
- Potential for Vacant Possession
- Conversion Potential
Accommodation
The accommodation comprises the following areas:
| Name | sq ft | sq m |
| Ground | 799 | 74.23 |
| 1st | 757 | 70.33 |
| 2nd | 286 | 26.57 |
| Basement | 367 | 34.10 |
| Total | 2,209 | 205.23 |
Location
The property is prominently located on Palmyra Square overlooking Queens Gardens, within the upmarket leisure and food and drink sector of the Cultural Quarter.
Surrounding properties are bar/restaurants, theatres and professional organisations. The Parr Hall, Treasury Building and Pyramid Centre are along this road.
Get directions from Google Maps
Mainline Stations
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Warrington Bank Quay4 mins
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Warrington Central7 mins
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Warrington West33 mins
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Padgate41 mins
Underground Station
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Chesham2763 mins
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Amersham2799 mins
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Chalfont and Latimer2828 mins
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Chorleywood2863 mins
Further Information
Price £300,000
Rates Payable £9,356.25 per annum
EPC Rating This property has been graded as E (125)
Description
We are delighted to offer for sale a three storey Listed mid terraced office building, with many distinguishing character features. The building provides cellular offices with a good standard of finish. WC and kitchen facilities are provided.
The main first floor office room is particularly appealing with views across Queens Gardens.
Close by is the Treasury Building, which has been tastefully converted into several ‘high end’ bars and restaurants, including San Lorenzo, Kookoo, Las Ramblas, Vandal and The Terrace, it also boasts function suites and private dining experiences.
On the assumption that vacant possession could be gained, we consider the property would be suitable for owner occupiers as offices or alternatively leisure or food and drink establishments, subject to planning, in this highly sought after location.
The current property status is Tenanted, with an established bridal wear operator business in occupancy. The current passing rent is only £18,000 per annum and there are 7 years remaining of their 10 year Lease, with an upward only rent review in April 2028.
Services
All mains services are available.
Rates
Rateable Value: £18,750.
Asking Price
£300,000 plus VAT. TOGC may be applicable.
Tenure
The property is held Long Leasehold for a term of 845 years from 26 April 1905.
VAT
We are advised that VAT is applicable to the above sale price.
Lease
The whole property is let by way of a 10 year FR&I Lease from 6 April 2023, no breaks, with a rent review on 6 April 2028 at £18,000 per annum.
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