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57 - 61 Corporation Street

Coventry, CV1

Coventry
47 Bedrooms (0 )
£2,250,000 For the leasehold
For Sale
Coventry
47 Bedrooms (0 )
£2,250,000 For the leasehold
For Sale

Description

The property comprises two ground floor lock-up shops, each with basement area. There is a separate access to the front providing access to three storeys above, which have been compartmentalised to provide living clusters, each with en-suite facilities. Currently used by Coventry City Council for emergency housing.

The property was originally constructed as offices, having been converted for use for student accommodation. Currently the property is utilised on a room-by-room/cluster, short term contract basis by Coventry City Council, producing the following income figures:-

Single Rooms: £30.00 per night
Two Bed Clusters: £35.00 per night
Three Bed Clusters: £40.00 per night
Four Bed Clusters: £45.00 per night

Prior to the Covid-19 pandemic, occupancy was typically at 85%. Occupation is currently typically at 75%.

Viewing

Strictly by appointment with the agent Bromwich Hardy.

Legal Costs

Each party is to bear their own legal and surveyors costs incurred in this transaction.

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