Two high street shops in Kenilworth have been sold for a combined £453,000 at auction this week.

Allsop Auctions sold 24 and 26 Warwick Road, the homes of Saks Hair and Beauty and Reeds Rains Estate Agent respectively, on Wednesday (December 8).

The two businesses will continue to operate as normal following the sale as only the premises have changed hands.

Reeds Rains currently has a lease agreement until January 2025, and Saks until March 2024.

The property, which also includes an upstairs office space currently leased to Penman's Solicitors, had a reserve price of £325,000 - £350,000.

Allsop sold the Warwick Road premises alongside 160 other lots during Wednesday's online auction.

The unknown purchaser can expect to earn a combined £35,000 in rent from the three businesses each year.

Prior to this week's auction Allsop had raised £511 million since the start of the year following the sale of 680 lots at its commercial auctions.

George Walker, partner and auctioneer at Allsop, said: "Despite starting the year in lockdown, 2021 has proved to be the busiest since 2018, before Brexit negotiations caused some bumps in the road.

"Buyers are clearly keen to make their cash work for them and the wide range of assets on offer in this catalogue provides opportunities for all, from high street and convenience retail, to roadside, offices and significant multi-let industrial estate investments."

More Kenilworth news stories:

- Kenilworth Post Office goes up for sale

- Papa John's branch opens in Kenilworth