Otley Road, Harrogate, HG2 0AG

£425,000

LOCATION
From Station Parade proceed to the traffic lights adjoining York Place, turn right signposted to Leeds and proceed to the Prince of Wales roundabout, go straight over onto the Otley Road where this property will be found towards the top of the hill on the left hand side.

DESCRIPTION
An ideal investment opportunity to acquire the freehold of this substantial traditional Victorian terraced house.

The property has been divided into a commercial ground and lower ground floor unit with residential maisonette occupying the upper floors. Both properties are currently let to different tenants. The lease for the ground floor commercial unit runs from 14th October 2016 until 13th October 2021 at an annual rent of £9,500. The residential element is let on assured shorthold tenancy until 1st October 2019 at a rental income of £900 per calendar month.

This is an ideal opportunity for instant income from purchase with both sets of tenants looking to stay in the property, and a current income of £20,300 per annum.

In addition to the accommodation listed in the floorplans there is also an enclosed courtyard to the rear.

SERVICES
All mains services are connected to the building with separate services for the different elements of the building.

TERMS
Freehold subject to the existing tenancies.

OUTGOINGS
Rateable Value:
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 5th December 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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