Station Parade, Harrogate, HG1 1UE

£330,000

LOCATION
Following Cheltenham Parade up the one way system take the fourth turning on the left onto Station Parade where the property is situated on the left hand side occupying a prominent trading position.

DESCRIPTION
An opportunity to purchase a multi-let and income producing property within the town centre. The premises offers a mixed use investment consisting of a ground floor retail unit with additional storage facilities and a cellar. On the first and second floors there are two 1 bedroom apartments currently let on Assured Shorthold Tenancies. The tenancy schedule is illustrated overleaf however the current total income is £23,540 Per Annum.

The commercial element is let to Exelby Shoes of Harrogate who have occupied the building for well over 20 years and offer a strong local covenant. The upper floors are let on assured shorthold tenancies and certainly offer value-add opportunities.

SERVICES
All mains services are connected to the property.

TERMS
The property is available to purchase freehold, with the benefit of the following incomes:

Ground floor commercial:
Tenant: Exelby Shoes of Harrogate
Ground floor retail unit: £12,500 PA
6 year lease from 1st January 2019

Residential Incomes:
Flat 1: £475 p/m (£5,700 PA) (Periodic tenancy)
Flat 2: £445 p/m (£5,340 PA) (End date: 30th November 2019)

Total Income: £23,540 Per Annum.

OUTGOINGS
Rateable Value: £8,400
Uniform Business Rate for 2018/19: £0.480.
Small business rate relief may be available to some occupiers. Further enquiries should be directed to HBC 01423 500600

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
Strictly by appointment with the agent Tel: 01423 501211.

Our next auction is on 1st October 2019

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