Westgate, Ripon, HG4 2AT

£300,000

LOCATION
The building is located on Westgate in immediate proximity to the market square. Ripon is an attractive Cathedral city, located approximately 30 miles north of Leeds, 12 miles north of Harrogate and 27 miles west of York. The property is strategically located within about 4 miles of the A1 motorway.

DESCRIPTION
An opportunity to purchase a multi-let and income producing property within Ripon's town centre. The premises offers a mixed use investment consisting of a ground floor retail unit and two 1 bedroom apartments on the upper floors, currently let on Assured Shorthold Tenancies. The tenancy schedule is illustrated overleaf however the current total income is £24,000 Per Annum.

The commercial element is currently let to 'The Little Ripon Bookshop' who have occupied the building for the last year taking over from the previous occupiers Westgate Frames. The residential elements are let on assured shorthold tenancies and offer value-add opportunities.

Ground floor commercial:
Tenant: The Little Ripon Bookshop
Rental income: £24,000 PA
5 year lease, with a 2.5 year break clause from July 2018.

Residential:
12a: £480.00 p/m
12b: £520.00 p/m

Total income: £24,000 Per Annum.

SERVICES
All mains services are connected to the property.

TERMS
Leasehold. The property is available on a new lease the terms of which are to be negotiated.

OUTGOINGS
Rateable Value: TBC
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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