Skip to content

Tachbrook Park Drive, Warwick, Warwickshire, CV34

Offers in Excess of
£2,950,000

Business rates & charges may apply

CBRE Ltd, London (Licensed, Leisure & Hotel Property)
SIZE

Ask agent

SECTOR

Leisure facility for sale

Key features

  • Opportunity to acquire a prime freehold long income index-linked tenpin bowling investment offering more than 20 years term certain, with lease expiry on 27th August 2044.
  • Let on an FRI lease to one of the UK's largest and most established bowling operators, Tenpin Limited with a topco surety from Tenpin Entertainment Limited, benefitting from a 5A1 D&B credit score.
  • Strategically positioned adjacent to the increasingly busy out-of-town Leamington Shopping Park, with over 1,000 new residential dwellings recently developed nearby.
  • Tenpin Leamington Spa enjoys a large catchment area with no bowling competition within a circa 15-mile radius (30-min drive time).
  • A detached single storey building that extends to 22,602 sq ft (2,100 sq m) GIA on a circa 1.2 acre (0.49 ha) plot, providing 44% site coverage.
  • The current rent passing is £234,491 per annum, reflecting a low rate of £10.37 psf. The next review will occur on 28th August 2027 and will increase to a minimum of £246,453 per annum (£10.90 psf).
  • The rent is reviewed every fifth anniversary of the term with annually compounding RPI-linked uplifts subject to a collar and cap of 1% - 3%.
  • C-63 EPC rating valid until February 2027.
  • Business unafffected.
  • Offers are invited in excess of £2,950,000 (Two Million Nine Hundred and Fifty Thousand Pounds), reflecting a Net Initial Yield of 7.5% once standard purchaser's costs have been deducted.

Description

The property is situated on the eastern side of Tachbrook Park Drive which borders Leamington Shopping Park which was built in the late 1980's as an out-of-town retail hub. Located 0.5 miles south of the town centre, the retail park is an attractive and increasingly popular shopping destination which boasts 160,000 sq ft of retail space and circa 522 parking spaces. Occupiers include M&S, Just for Pets, Next, Boots, Halfords, The Range, New Look, TK Maxx, Greggs, Caffe Nero and Clarks. Adjacent to Tenpin is a 90,000 sq ft Sainsbury's supermarket with 529 parking spaces whilst other nearby operators include Curry's, Aldi, McDonald's, and Travis Perkins.

The surrounding area comprises a mix between retail, light industrial, religious and office premises with a significant increase in residential dwellings following the local authority's introduction of their Urban Extension Area with over 1,000 new build properties recently constructed with planning approved for a further 600.

Recent lettings on the shopping park include 20,000 sq ft to The Range in October 2023 and M&S who closed their clothing branch in the town centre Royal Priors retail scheme to extend their existing retail park branch into a larger flagship store, recognising the shift in customer demand that is moving away from town centre schemes and towards out-of-town shopping parks.

The property is a detached purpose-built bowling centre of steel frame construction with brick and steel cladding. The venue benefits from direct frontage onto Tachbrook Park Drive with customer parking for 34 vehicles. The property extends to 22,602 sq ft GIA and is arranged entirely over ground level with facilities including: 26 bowling lanes; extensive AWP area; diner and bar; customer WCs; commercial kitchen; beer cellar and ancillary accommodation.

The venue was refurbished in 2020 and dominates the catchment with no competition closer than the Tenpin in Coventry approximately 15 miles to the north.

Brochures

Tachbrook Park Drive, Warwick, Warwickshire, CV34

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Leamington Spa Station0.6 miles
  • Warwick Station1.7 miles
  • Warwick Parkway Station2.9 miles

About CBRE Ltd, London (Licensed, Leisure & Hotel Property)

Henrietta House Henrietta Place, London, W1G 0NB

CBRE Ltd, London (Licensed, Leisure & Hotel Property)

With an integrated network of over 300 wholly owned offices in more than 50 countries, our commercial property consultants advise more clients globally than any other commercial property adviser.

We work with occupiers, investors and developers of office, industrial, residential, retail and hotel property, providing strategic advice and execution for sales and leasing; tenant representation; corporate services; facilities, property and project management; appraisal and valuation; develo

More properties from CBRE Ltd, London (Licensed, Leisure & Hotel Property)

Notes

These notes are private, only you can see them.

Disclaimer - Property reference Tenpin_Leamington_Spa. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by CBRE Ltd, London (Licensed, Leisure & Hotel Property). Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data ©OpenStreetMap contributors.

Your search history

You have no recent searches.