Mixed Use
A Grade II Listed freehold building located along Smith Street, Warwick, giving a rare opportunity to complete a mixed-use scheme located within walking distance of Warwick Castle. The unit extends to approximately 1,495 sq.ft and had been part refurbished to the ground floor.
The property is situated to the south-west of the popular A429 Smith Street amongst an eclectic variety of local traders including butchers, restaurants, takeaways and hair salons, close to the historic Eastgate and former buildings of Kings High School in the heart of Warwick town centre, close to Castle Lane and Warwick Castle itself. Smith Street is a highly vibrant and sought after location.
The residential aspect has a separate rear access from Gerrard Street.
DESCRIPTION:
The property is believed to be of Georgian construction and is a mid-terraced building which appears to also incorporate remnants of a medieval timber framed structure in part.
Elevations are brick and the property has sash windows and revealed timber frames internally. The property includes an impressive stone fire surround and stack.
The two bedroomed flat is part completed and requires refurbishment including electrics, plastering, kitchen and bathrooms, etc. Significant preliminary works have been completed including new stairs, flooring, some stud partitioning. New water, gas and electricity supplies have been connected, pending installation of meters. The water supply is shared with the ground floor shop.
The shop has a glazed new frontage with glazed door and the retail area has been separated from the residential parts and is tiled with new wiring for service connections. There is also access to a cellar. The kitchen area and WC and lighting need to be completed and there are suspended ceilings in place in the retail area. Upon inspection on 07 07 23 works to the ground floor were nearly complete with minimal work required to have the premises in a lettable condition.
The ground floor lock up retail shop extends to 275 sq.ft (25.5 sq.m).
The residential aspect is accessed from Gerrard Street into a small garden area and a door to the ground floor lobby with space for a utility area and stairs leading to first floor kitchen, large first floor living room with stone fireplace, two substantial second floor bedrooms, large third floor bathroom plus ancillary room. There is access from Gerrard Street into a small garden area. The gross internal area is approximately 1,220 sq.ft (113.3 sq.m).
We have been advised the property is Grade II listed. Planning and listed building consent were granted for refurbishment works (Reference: W14/0025, 0226LB, 1003 and 1139) for two bedrooms with scope for a third. We are advised that all pre-construction conditions have been signed off by Warwick District Council and that proposed works have been approved for the purposes of Building Control.
These sales details are awaiting vendor approval.
Freehold. Vacant possession upon completion.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
