£100,000 has been knocked off the asking price for a former Kenilworth bed and breakfast which has been turned into apartments.

Local agents Shortland Horne had originally listed the 'Warwick Corner' development for £1.2 million, but has now taken the asking price down to £1.1 million.

The building was once part of the Grand Hotel on Waverley Road.

Planning permission to turn the guest house into apartments was granted in early 2017, months after plans to develop the rest of the hotel into two homes was also approved.

Now the building - which is split into five apartments - is available freehold, bringing in up to £5,085 in rent per month.

The property went live on the agent's website on Boxing Day (December 26).

The brochure says the building is: "A brilliant investment opportunity to purchase a block of five recently converted apartments finished to a very high standard set in the heart of Kenilworth town centre with just over £62,000 income a year. 

The building was once part of the Grand Hotel on Waverley Road (image by James Smith)

"The block consists of three one bedroom apartments and two, two bedroom apartments. 

advertisement

"Each apartment has been tastefully designed and finished to a high standard and have been easily let year on year. 

"Each apartment has one parking space per unit.

"The property is within walking distance to the high street, local shops, amenities and Kenilworth train station. 

"Supermarkets like Waitrose, Sainsburys just up the road with a plethora of good restaurants, pubs and bars. 

"This property has huge potential to extend further to make a superb family home and is also offered with the benefit of no upward chain."

See the full listing here.

Shortland Horne is also currently marketing Berkeley House, further down Warwick Road. The building is home to a number of local businesses and is available for £1.5 million.