QUALITY MIXED USE INVESTMENT PROPERTY IN THE HEART OF KNARESBOROUGH TOWN CENTRE
A FULLY LET FREEHOLD INVESTMENT PROPERTY COMPRISING TWO RETAIL UNITS AND THREE BEAUTIFULLY PRESENTED SELF CONTAINED APARTMENTS ARRANGED OVER FIRST AND SECOND FLOOR LEVELS. For all enquiries please contact David Tomlin on 07768 723299
An attractive end of terrace property situated within the heart of the historic Market Town of Knaresborough's with a full array of local services on hand including a broad range of local shops, a vibrant weekly market and recreational facilities together with a swimming pool, primary and secondary education and also a railway station with mainline links. The southern bypass provides an excellent communication link to the A1 Motorway and access to the principal commercial centres of North and West Yorkshire. Knaresborough benefits from a strong influx of tourists particularly during the summer months
The property is fully let and generates an income of £49,545 per annum.
Shop at 49 High Street operating as the Town’s main Post Office
Let to a private covenant on a 15 year, effectively full repairing and insuring lease from 1 June 2014 at a rent of £14,545 per annum. The rent is subject to review at the end of the end of years 5 and 10 in line with index linking provisions. The tenant also has a break option at the end of year 5 and 10 subject to the service of 6 months prior notice.
We understand that the Post Office invested in excess of £100,000 on the shop fit and approved the quality and sound financial standing of the operator/tenant.
Shop at 51 High Street, Knaresborough operating as McQueens Café
Let on a 9 year, effectively full repairing and insuring lease from 31 October 2011 at a rent of £14,000 per annum exclusive and further extended by 5 years taking the lease expiry date to 31 October 2025.
Accessed via a dedicated communal staircase to the rear
Apartment – 51A - A two bed first floor apartment let on an AST at a rental of £550 pcm
Apartment – 51B - A larger two bed apartment let on an AST at a rental of £600 pcm
Apartment – 51C - A large two bed second floor apartment with a staircase to useful additional space at attic level. Let on an AST at a rent of £600 pcm
Vat to be charged at the prevailing rate if applicable. We understand that an option to tax the subject property has been made in this case.
Each party to be responsible for their own legal costs.