A prominent high street address that hosts a beauty salon and two flats in Royal Leamington Spa has been sold for more than £0.5 million by commercial property agency Bromwich Hardy.
The retail and residential investment property at 80 Regent Street, which currently produces annual rents of £41,820 a year, was bought for £508,000 by Sanghera Lettings Ltd.
Mark Booth, a surveyor at Bromwich Hardy, said: “We are pleased to have achieved what is an excellent sale price for this property.
“The property is located on Regent Street, one of Leamington Spa’s main retail locations, which runs from east to west across The Parade.
“The building is directly opposite the Royal Priors shopping centre and the resulting high footfall and excellent visibility from the shopping centre produced some strong competition for the purchase.
“Another attraction to the property is the nearby Regent Court, a busy location to a number of restaurants and shops including Caffe Nero, Nationwide and Nando’s.”
The ground and lower ground floors of the mid-terraced period property are currently let to a successful beauty salon.
The two residential flats above the property are each fully let on assured short hold tenancies at £5,220 and £6,600 a year respectively.
Davisons Law advised Sanghera Lettings Ltd, and the private vendor had legal advice from Blythe Liggins.