55 Smith Street, Warwick

Description

The property comprises a vacant retail unit totalling 1,313 sq ft, previously occupied by The Children's Society. The property is arranged across ground, first and second floors. The ground floor provides retail accommodation with a glazed shopfront frontage and direct pedestrian access from the street. The first floor has previously been used for storage purposes, with the second floor providing office space. The property is accessed via a single entrance, with the upper floors accessed internally from the ground floor.

Accommodation

Ground floor retail accommodation with a glazed shopfront frontage and direct pedestrian access from the street; first floor previously used for storage; second floor providing office space. Total area approximately 1,313 sq ft.

Location

Smith Street is situated close to Warwick town centre, within an established mixed-use area comprising a range of commercial, retail and residential uses. Nearby occupiers include a range of independent retailers, cafes, restaurants and leisure operators. The property benefits from good access to the town centre and local amenities, whilst Warwick railway station is located approximately 0.5 miles to the north-east. Road communications are good, with access to the A425 and A46 nearby, the latter providing connections to Junction 15 of the M40 motorway and the wider regional road network.

Tenure / Property Information

Investment Analysis

The £180,000 guide provides an auction reference point, but no current commercial valuation evidence is supplied. The sold comparables are historic, vary in property type and are not sufficiently specific to establish a reliable current GDV for this vacant retail unit with upper parts. Buyer fees, VAT and possible seller charges are also unknown.

Investment Snapshot

Strategy Recommendation

Proceed only after commercial valuation, rental evidence, inspection, title review and confirmation of all buyer, VAT and seller charges. On the supplied evidence, do not underwrite a BTL, BRRR or flip strategy.

Works Required

No specific defects or required works are evidenced. Allowance should be based only on an inspection of the vacant retail accommodation, glazed shopfront, internal access and first- and second-floor storage/office areas; no numeric works budget is supportable.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified without a supported commercial rent, refurbishment budget, GDV and finance-cost assumptions. Refinance proceeds cannot be established from the supplied evidence.

Buy-to-Let Analysis

A BTL assessment cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The property is vacant and comprises commercial retail, storage and office accommodation, so rent, demand and occupational costs require separate verification.

Flip Analysis

A flip appraisal cannot be quantified reliably. The historic Smith Street sales range from £112,500 to £325,000, but the evidence does not establish comparability, current values or a resale allowance. The guide should not be treated as GDV.

Investor Risks & Due Diligence

• The property is vacant, with no passing income evidenced.

• No sufficiently specific rental comparable or auctioneer rent estimate is supplied.

• Buyer fee, VAT treatment and possible seller charges are unknown.

• The historic sold comparables vary in type and date and do not establish a reliable current market value.

• The upper floors are described as storage and office space, but no evidence is supplied on their value, condition or permitted use.

Recommendation

Proceed only after commercial valuation, rental evidence, inspection, title review and confirmation of all buyer, VAT and seller charges. On the supplied evidence, do not underwrite a BTL, BRRR or flip strategy.

Strategy Rating

Analysis Confidence

The property description, guide price, tenure, vacancy and floor area are supplied, but current valuation, rental, condition, fees, VAT and refurbishment evidence are absent; the comparables are historic and not sufficiently specific.