Charlotte Street Leamington Spa, Warwickshire, CV31

Here is your chance to acquire a truly unique five-storey semi-detached Regency building made up of six luxurious turnkey apartments...

Accommodation Summary

A rare opportunity to acquire a brilliant investment property in a prime town centre location consisting of six luxurious apartments that have been completely renovated to a superb standard. This fantastic Grade II Listed Regency gem definitely has the curb appeal and grandeur to catch someone’s eye and an interior to match, with each apartment being individually designed to a very high standard, not to mention the fact that all furniture, fixtures, and fittings are included in the sale. The property also benefits from on-site parking and free street parking, as well as a Housekeepers’ storage room and a separate linen/laundry room.

Each apartment is being let out on a short-term basis via Airbnb

Results for the 2022/2023 financial year were gross income of £174,185, (gross yield 11.61%) total operating costs of £55,049 and an EBITDA of £119,136 (net yield 7.94%)

Results for the 2023/2024 financial year were gross income of £197,066, (gross yield 13.14%) total operating costs of £58,860 and an EBITDA of £138,206 (net yield 9.21%)

(Figures above based on a purchase price of £1,500,000)

This is an ideal turnkey investment opportunity in a fantastic location, situated within walking distance to the railway station and the town centre.

Business rates apply and each apartment benefits from small business relief.

Apartment 1A
This lower ground floor studio apartment is located at the front of the property and has its own private entrance and patio area. The apartment is 33 sq. m. and had a gross annual income of £26,334 in FY 2023/24. EPC rating to follow.

Apartment 1B
This is another lower ground floor studio apartment located at the rear of the property. The space is 34 sq. m. and has its own private entrance and patio. The gross annual income was £24,533 in FY 2023/24. EPC rating to follow.

Apartment 2
This ground floor apartment provides 40 sq. m. of living space with one bedroom and one bathroom. The gross annual income in FY 2023/24 was £38,933. EPC rating: D.

Apartment 3
This first floor apartment is a great size providing two bedrooms, two bathrooms, and a balcony at 57 sq. m., producing a gross annual income in FY 2023/24 of £37,037. EPC rating: D.

Apartment 4
This is a second floor apartment with two bedrooms and one bathroom, providing 57 sq. m. of living space. The gross annual income in FY 2023/24 was £33,320. EPC rating: C.

Apartment 5
This is the final apartment located on the third floor, providing two bedrooms and two bathrooms. The apartment is a fantastic size at 59 sq. m. and had a gross annual income of £36,909 in FY 2023/24. EPC rating: D.

The communal areas within the building add a further 54 sq m, making the GIA a total of 333 sq m ( 3584sqft)

There is also the opportunity to change investment from short-term Airbnb to Assured Shorthold Tenancies (ASTs)

Rents (2023) based on comparables per month
Apartment 1a (studio with patio, lower ground) £ 900.00
Apartment 1b (studio with patio, lower ground) £ 900.00
Apartment 2 (one bed, 1 bath, ground) £ 1,200.00
Apartment 3 (2 bed, 2 bath, balcony, first) £ 1,400.00
Apartment 4 (2 bed, second) £ 1,400.00
Apartment 5 (2 bed, 2 bath, third) £ 1,400.00
Total rent per month £ 7,200.00
Gross income per year £ 86,400.00
Net Profit average per month £ 7,200.00
Purchase Price £1,500,000
Net Yield 5.76%

Outside
There is off-road parking at the rear of the property and free on-street parking at the front. The two lower ground floor apartments benefit from having their own private patio areas and entrances.

Location
This stunning Regency semi-detached property is located near the centre of Leamington town, which is just a ten minute walk away. The apartments are very easily accessible, with the train station just a five minute walk away.

Leamington Spa, a charming town in Warwickshire, offers a delightful blend of historic charm and modern amenities. Known for its elegant Regency architecture, lush green spaces, and vibrant cultural scene, Leamington Spa is a highly sought-after destination for residents and visitors alike.

The town boasts an array of amenities, including quaint independent shops, cozy cafes, inviting pubs, and fine dining establishments. From leisurely strolls along the tree-lined avenues of Jephson Gardens to exploring the boutiques and galleries in the town centre, there's always something to discover in Leamington Spa.

In addition to its cultural offerings, Leamington Spa benefits from excellent transport links, making it easy to travel to and from the town. The town's railway station provides regular services to London, Birmingham, and other major cities, with journey times to London averaging around 1 hour and 15 minutes.

For drivers, the nearby M40 motorway offers convenient access to the national road network, while Birmingham International Airport is just a short drive away, providing connections to domestic and international destinations.

With its rich history, vibrant culture, and convenient transport links, Leamington Spa offers the perfect blend of urban convenience and rural tranquillity, making it an ideal place to live, work, and explore.

Property notes
Services - We believe the property is connected to mains water, electricity, gas, and drainage.
Mobile phone coverage – 4G and 5G mobile signal is available in the area we advise you to check with your provider.
Broadband availability – FTTC Superfast Fibre Broadband is available at the property with maximum download speeds of 80 Mbps and maximum upload speeds of 20 Mbps. We advise you check with your provider.
Additional information - The property is Grade II Listed.
Local Authority – Warwick District Council

Tenure: Freehold | Business rates apply | EPC’s: D, D, C, D

For more information or to arrange a viewing, contact Sarah Garland at Fine & Country Leamington Spa.

Disclaimer:
All measurements are approximate and quoted in metric with imperial equivalents and for general guidance only and whilst every attempt has been made to ensure accuracy, they must not be relied on.
The fixtures, fittings and appliances referred to have not been tested and therefore no guarantee can be given and that they are in working order.
Internal photographs are reproduced for general information and it must not be inferred that any item shown is included with the property.
Whilst we carryout our due diligence on a property before it is launched to the market and we endeavour to provide accurate information, buyers are advised to conduct their own due diligence.
Our information is presented to the best of our knowledge and should not solely be relied upon when making purchasing decisions. The responsibility for verifying aspects such as flood risk, easements, covenants and other property related details rests with the buyer.