The CO-OP Rooms Department Store on Warwick Street, Royal Leamington Spa has been bought by a client of Drake Howard Property Limited, for investment and development. The building constructed circa 1970 has retail showroom space on ground and first floors, with stock and offices on the top floor and a funeral parlour and office on the corner of Bedford Street. The CO-OP relocated from the premises to the former Regency Arcade on Parade, in 2015.
The new owners feel the modern design of the former store in a street scene dominated by Regency period architecture creates a landmark in the Town and offers a fantastic opportunity to breathe new life into the building and retailing pitch.
“Our agent has managed to secure the property for us at a very attractive price. Following completion of the purchase just before Christmas. We are fine tuning plans for refurbishment and potential conversion of ground and upper floors”, said a representative from new owners, Hatchback Limited.
Martyn Howard of Drake Howard Property added, “Acquisition of this property has required a great deal of patience, but the chance to buy a substantial building immediately adjacent to Parade, is a rare thing and well worth the perseverance. Retail and leisure activity in the heart of Leamington Spa, has in my opinion, never been so active and we are now marketing the property with our joint agent Wareing & Co, for these uses.
The marketing instruction may change as plans for the building crystallise. However, for the present we are gauging interest from retailers on the ground floor space and leisure sector operators on the building as a whole. The possibilities are wide open and on a personal note, I am excited by the prospect of new occupiers and potential changes to the exterior to enhance and compliment the original design.”
The frontage to Warwick Street is 27.5m (90 ft.) and each level has approximately 372 sq. m. (4,000 sq. ft.) of floor space. There is goods access from the rear and a separate entrance on Bedford Street to the upper floors. Further details are available from Drake Howard Property and Wareing & Co.