Bower Road, Harrogate, HG1 1BE

£300,000

LOCATION
The premises occupy a prominent trading position on the corner of Bower Road and Mayfield Grove with direct frontage onto the bottom of Station Parade. The unit is in close proximity to Harrogate town centre including the transport links offered by the bus and train stations.

DESCRIPTION
A rare opportunity to purchase a commercial retail investment in the Centre of Harrogate, located at the bottom of Station Parade on Bower Road. The property comprises two ground and lower ground floor retail units both fully let with two well established tenants both on secure long term leases. The income for each element is illustrated overleaf, however offers a total income of £25,060 Per Annum.

The property itself is from the Victorian era and is available to purchase freehold but excludes the upper floor apartments which are held on 999 new leases. The property is in good condition throughout and offers an ideal investment opportunity with an excellent return of 8.3%.

SERVICES
All mains services are connected to the property.

TERMS
Available to purchase freehold

OUTGOINGS
The property comprises 2 retail units to the ground floor, these are fully let as follows:

15A BOWER ROAD:
Rent: £12,000 Per Annum, Lease start date 24th November 2018
5 year lease

15B BOWER ROAD:
Rent: £11,000 Per Annum, from 11th March 2019
5 year lease

Hoarding income: £1,500 Per Annum
5 year lease

Other signage income: £360 Per Annum
Ground rent income: £200 Per Annum

Total Income: £25,060 Per Annum

VAT
All figures quoted are deemed exclusive of VAT where applicable.

LEGAL COSTS
Unless expressly stated all parties will be responsible for their own legal costs in connection with this transaction.

PLANNING
Interested parties are advised to make their own enquiries of the local planning authority in respect of planning proposals if any change of use is envisaged.

VIEWING
If you would like to view this property, please contact FSS on 01423 501211 and we will be pleased to make an appointment.

Our next auction is on 18th July 2019

Have you got a property that you would like to sell at Auction?

We are currently taking new instructions

PLEASE CONTACT US FOR MORE DETAILS AND TO ARRANGE A VIEWING

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