POOLS COTTAGES, Kenilworth, CV82JW (SOLD PRIOR)

£ 1,000,000
SOLD PRIOR

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.

 

Basic Facts

Date added: 30/05/23 Post Updated: 2024-02-28 10:51:48 Type: Status:

Features

Freehold
High yield investment

View on map / Neighborhood

This style property is located in Kenilworth is currently and has been listed on NALC Auctions. This property is listed at £ 1,000,000. It has bedrooms, bathrooms, and is . The property was built in year.