Coventry Canal Basin, St. Nicholas Street, Coventry, West Midlands, CV1 4LY — Coventry Canal Basin, St. Nicholas Street, Coventry, West Midlands, CV1 4LY

Guide: £225,000 - £275,000 On the instructions of a Charity. The property comprises a mixed-use scheme situated around the canal basin comprising two office buildings (James Brindley House/John Sinclair House and Thomas Yeoman House), an apartment block (Waterside House) with ground floor commercial space, associated communal space including parking areas and a garden area. Two car parks (both accessed via Draper Fields) are situated to the north of the site with approximately 93 spaces in total. James Brindley House/John Sinclair House and Thomas Yeoman House James Brindley House/John Sinclair House is part two and part three storey office building with several ground floor retail units/office suites. Thomas Yeoman House is a part three storey office building. The office buildings are let on a long lease to Coventry City Council from 01/02/1995 until 01/02/2094 at a current rent of £16,000 per annum. The greater of this amount, or 11.95% of the net rental income the council achieves from letting the premises is payable for the remainder of the term. The lease includes an option for the tenant to extend by 50 years. Waterside House A modern, four storey apartment block. The three upper floors contain residential accommodation. The ground floor provides class E space, which extends to approximately 408.21 sq m (4,394 sq ft) (1). Sarum Properties Limited (by way of an assignment) have a long leasehold interest (125 years from 26/01 2005) over the whole property at a peppercorn rent. Waterside House (Ground Floor) The sale includes an underlease from Sarum Properties Limited for the ground floor only, for a period of 125 years from 26 January 2005 at a ground rent of £1,000 p.a. Currently vacant. The Coal Vaults The Coal Vaults have been refurbished for commercial use. The Vaults consist of two cells with a central partial dividing wall and a linking arch, extending to approximately 202.6 sq m (2,181 sq ft) (1). The current internal layout is to facilitate the operation of a charity-run live entertainment venue, albeit it has previously also been used for retail (class E). Let to The Tin Music and Arts (a Charity) on a 10-year lease from 12/06/2024 at a rent of £8,000 per annum. which is subject to 5-yearly reviews. There is a mutual break option at the 5-year anniversary (12/06/2029). Basin Common Areas The Basin site common areas, including the car parking area (accessed from St Nicholas Street) and gardens are let to Coventry City Council on a long lease at peppercorn rent. Main Car Park (southern side of Draper Fields) Comprises approximately 72 spaces across three segments (approximately 24 spaces in each segment). The easterly segment (less 5 spaces) is let to Coventry City Council as a part of their office lease. The central segment is unassigned and therefore sold with vacant possession. The westerly segment is let on licence to the Canal Basin Trust and is not income producing. Car Park (northern side of Draper Fields) The car park comprises 21 spaces allocated to the residents of Waterside House as part of their long leases. (1) Knight Frank have not measured the property. Areas have been provided by the vendor Asset Management and Development Opportunities (subject to any leases and obtaining the requisite consents) (1) Refurbish and let the vacant commercial space (2) Regularise the licenses to improve the income stream (3) The car parks(s) may provide development potential. Interested parties are to rely on their own enquiries. Service charge Refer to the legal park VAT The property has been elected for VAT The plan forming part of the particulars is for illustration purposes only. Interested parties should refer to the plans in the legal pack. Coventry Canal Basin is located at St Nicholas Street, just north of Coventry city centre and slightly outside the city's inner ring road (A4053). It marks the southern terminus of the Coventry Canal which stretches northward for 38 miles to Fradley Junction. It is a central point for leisure, heritage, and canal-based activities, being a popular starting point for canal walks, including art trails and nature routes. A footbridge over the ring road connects the basin directly to the city centre. There are three vehicular access points into the site; two from Draper’s Fields and one from St Nicholas Street. There is also a pedestrian access into the site from Leicester Row. Road connections are good as Leicester Row leads to Foleshill Road which reaches J3 of the M6 via the A444 to the north.