NALC Logo

Luxury £1M+ Properties at World of Auctions – High Profit Potential

Guide price £ 1,000,000

Key Features

  • Freehold
  • High yield investment

Description

POOLS COTTAGES, Crackley Lane, Kenilworth, Warwickshire CV8 2JW

 

This wonderful Asset is set back from Crackley Lane behind a high brick wall with electronically operated security gates.”

Currently configured as The main house, including 14 to 15 superb studio one bedroom and Two bedroom dwellings.

The substantial and comfortable country house has been improved and extended to form a number of dwellings and is believed to have had the longest run of thatch in the West Midlands.

Pools Cottages comprises of 4 cottages, 9 flats and 1 studio extending to approximately 11,270 square feet (subject to measurement Survey)  together with communal grounds including a tennis court, gardens and parking on a site area in excess of an acre.

 

Outside

The cottages are approached by a separate driveway.

Which in turn leads to a hard tennis court with further letting property beyond and paddock area to the east.

To the front of the main house is an enclosed lawned garden, privately situated behind the wall.

To the north end of the garden is a small Orchard of mixed conifer and broad leaf trees.

 

Location

Property stands proudly surrounded by local farms In a rural setting. It can be easily found off Crackley Lane and by using what three words and searching dating.critic.indeed .

 

The Site as a Whole

In all, the site extends to approximately 0.53 hectare ﴾1.3 acres﴿ to include grounds, Tennis courts and large indoor complex with swimming pool, sauna and Jacuzzi – which is currently covered over and utilised as additional accommodation.

The large indoor swimming pool (currently covered over) has automatic humidity control and pool cover with safety rail. Upon recommissioning could once again become an attractive feature of the property.

 

Tenure: The property benefits from a number of individual titles (contained within the legal pack) All of which are Freehold and included within this sale. With vacant possession upon completion

 

Historically

Originally a range of cottages built close to the fish ponds of Borkidene Grange. The roof has been partly converted to slate from thatched with work ongoing.

 

Letting and previous Income

The Property is Currently configured as 15 superb studio, 1 & 2 bedroom dwellings over approximately 1,047 square metres ﴾11,270 square feet GIA﴿.

Each let on Assured Shorthold Tenancy agreements and previously producing a considerable gross income of £192,000 per annum.

The surrounding area can only be described as Superb for rental return. In our experience it is well known as a prime location with the potential to achieve a gross rental income of £8k to £9k per month.

This is was underpinned by Coventry football club. Who have previously rented half of this asset and the many Footballers who are known to rent in the area. This has led to the property building a great reputation for seasonal stays, for the international players.

The current Owners have only been asking 70% of the normal rental rates and the property and site’s overall potential could easily be maximised by running the property to its full business potential

 

Accommodation in detail

Two of the cottages could be incorporated into the accommodation of the main house as they are linked, if so desired, to extend the accommodation of the main property.

The main house has been sympathetically extended with numerous features including beamed ceilings.

High quality bathrooms and kitchen, as well as, an impressive security system.

Which in detail extends to :

To the front is a private enclosed lawned garden. The enclosed courtyard in turn provides access to the wealth of accommodation:

Unit 1
Ground floor : Living Room, Bathroom, Kitchen
First floor : Bedroom

Unit 2
Ground Floor : Living Room, Bathroom, Kitchen
First floor : Bedroom

Unit 3
Ground Floor : Living Room, Bathroom, Kitchen
First floor : Bedroom

Unit 4
Ground Floor : Living Room, Bathroom, Kitchen, Bedroom

Unit 5
Ground floor : Living Room, Bathroom, Kitchen, Bedroom

Unit 6
Ground floor : Living Room/Kitchen, Bathroom, Bedroom

Unit 7
Ground floor : Living Room/Kitchen, Bathroom, Bedroom

Unit 8
Ground floor : Living Room, Kitchen, Bathroom, 2 Bedrooms

Unit 9
Ground floor : Living Room/Kitchen, Bathroom, 2 Bedrooms with en suites

Unit 10
Ground floor : Living Room, Kitchen, Bedroom with en suite

Unit 11
Arranged over First floor : Living Room, Kitchen, 2 Bedrooms, 2 Bathrooms

Unit 12
Ground floor : Living Room/Kitchen
First floor : 2 Bedrooms, 2 Bathrooms

Unit 13
Ground Floor : Studio

Unit 14
Ground floor: Living Room, Kitchen, Bathroom, Bedroom

To the rear western side
The units to the rear are approached by a separate driveway, leading to a hard tennis court and paddock area to the east.

Services

The property benefits from mains electricity and water are connected to the property, together with a private drainage system and oil fired central heating.

 

Potential commercial Additional asset value

A substation has also been added to the property to improve power. In addition with the properties green credentials in mind the Substation provides a fantastic opportunity to Let as a stand alone site, or sell Produced excess power output back to the national grid.

 

Development Potential

Scope for further development or to occupy the main house and linked cottages ﴾currently multi‐ let﴿ as a substantial single residence. subject to obtaining the usual consents.

The property may be suitable for further development, change of use or reconfiguration back to a single family dwelling, together with ancillary accommodation (subject to obtaining the necessary consents).

We are advised that the existing accommodation does not benefit from planning, with planning being for a single house. Taking these matters into consideration provides an  incredible opportunity for the buyer. With significant asset management opportunities to curate and return the property to its previous  income stream and/or add value through development.

Interested parties are to rely on their own enquires with Warwick District Council (01926 456536 / https://www.warwickdc.gov.uk/info/20004/planning/275/planning-staff_contacts).

Area

The university of Warwick is just 2.6 miles South

2 miles South of the A45 link road providing easy access to the M42, M40 & M6 motorways.

5 miles south of Coventry,

18 miles south east of Birmingham City Centre.

2 miles North Of Kenilworth village

and 10 miles north of Warwick Parkway all providing good shopping centres and direct connections to London via rail.

 

Buyer’s Premium

The purchaser shall pay a 10% deposit. Plus, In addition, a buyer’s premium of 2% of the sale price + VAT upon the exchange of the contract.

When registering to bid with us we will require 2 forms of ID (Passport, Driving Licence) to fit in line with the Anti-Money Laundering Act.

 

Get in touch

Tom Barrett National Sales Director

Map

Important Notices & Guidance Notes

Important notices

Pre-registration approval to bid, guide prices, reserves, additional charges and other matters.

Pre-registration approval to bid World of Auctions now require all bidders who wish to bid at our Auctions to register. All checks required by current anti-money laundering legislation must be satisfactorily completed as part of this process before prior approval to bid will be given.

Please use the links on our website to pre-register. Following approval to bid, the buyer named in your registration cannot be changed without the consent of the auctioneers.

Guide Prices

A guide price (to include a range of prices), is not an indication of the anticipated eventual selling price or a valuation; it is an indication of the minimum price ( “the Reserve” ) at which (or range of prices within which) the seller might be prepared to sell. The eventual sale price can and frequently does, exceed the guide price.

Where a range is given, the Reserve will sit within that range and will not exceed the top end of the range. Where a single figure Guide Price is given, the Reserve will be within 10%, upwards or downwards, of that figure.

The guide price may be subject to change up to and including the day of the auction. The latest published guide price (or range of prices) is displayed on our website, and you should check the website regularly for updates and on the day of the auction.

All guide prices are quoted “subject to contract”.

Please note the guide price for the Lot does not include: – any Buyers’ Fee charged by the auctioneers; – VAT on the sale price; – SDLT or any other Government taxes.

Additional costs and fees charged by the seller or third parties that might apply to some Lots and/or some buyers.

If a guide price is listed as “TBA”, it means no guide price has been set at present. Please do call our office about this. The guide price, or range of prices, will be published online immediately it becomes available and you should check the auction website regularly for updates and on the day of the auction.

Reserve Prices

The reserve price is the minimum price at which the Lot can be sold.

Whilst every effort is made to ensure that the advertised guide prices are up to date. it is possible that the reserve price set for any Lot may exceed the previously quoted guide price. This is because the seller may fix the final reserve price just before the Lot is offered for sale and you should check the website regularly for updates and on the day of the auction.

World of Auctions, Residential and Commercial Auctions. Our content is meticulously curated by our seasoned professionals, specifically tailored for discerning property buyers. Our platform is best suited for experienced institutional or business buyers, as well as individuals equipped with the necessary knowledge and expertise to make informed purchasing decisions. We deal in properties that come with their own unique set of risks, which our sophisticated buyers understand. If you’re uncertain about meeting these prerequisites, we recommend seeking independent advice or reaching out to us directly.”

Buyers Premium 

A buyer’s premium is an additional charge that successful bidders are required to pay on top of their final bid price at a property auction. This fee is typically a percentage of the final bid and is paid directly to the auction house. It serves as a kind of commission for the auctioneer’s services. The exact percentage can vary depending on the auction house. At world of Auctions our buyers premium on Property (Real Estate sales) is normally £5000 plus vat. It is usually clearly stated in the auction’s terms and conditions. It’s crucial for bidders to factor in the buyer’s premium when determining their maximum bid, as it significantly affects the total cost of the property.

Buyers’ fees, Seller’s fees and additional charges

For each Lot, a documentation charge / Fee is payable on the fall of the hammer to World of Auctions as follows:

Residential Auctions – Lots sold for £10,000 or more: Buyers’ Fee of £1,500 inclusive of VAT.

Lots sold for less than £10,000: Buyers’ Fee of £500 inclusive of VAT.

Commercial Properties – All Lots: Buyers Fee £1,000 excluding VAT

Additional charges and fees might be charged by the seller and/or other third parties. You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees and to check the addendum which might also (but does not always) contain details of such amounts.

VAT may be chargeable in addition to the sale price for the Lot. The auctioneer will announce this and will be contained within the particulars.

Other Matters

Please note that Lots may be sold or withdrawn at any time prior to auction.

Please note that the amount of Bidder Security (payable on application to bid at the auction) and the Buyer’s Fee may be varied from the standard amounts quoted upon or website or by a member of our sales team. So please check.

Please refer to the addendum, the Particulars and/or the conditions of sale.

Mapping data licensed from Ordnance Survey with the permission of the Controller of Her Majesty’s Stationery Office. © Crown Copyright. All rights reserved. Licence number 100022432. Location plans are reproduced from the Ordnance Survey mapping with the permission of Ordnance Survey on behalf of the Controller of Her Majesty’s Stationery Office, © Crown copyright and Database Rights 2018 OS 100060020

The plans and photographs shown in the catalogue are included in order to assist you in locating the Lot in question. They are not to be taken as drawn to scale and any arrows on plans or photographs are merely to assist you in finding the Lot, not for the purpose of indicating legal boundaries or which direction the lot is facing.

The Auctioneers do not warrant or represent that any plans or photographs show the up-to-date position with regard to occupiers either for the Lot or for any other properties shown in such plans or photographs.