Cold Bath Road & Valley Drive, Harrogate, HG2 0NX
£725,000

LOCATION
Located in this premier mixed commercial and residential neighbourhood affording a wide variety of national and independent businesses as well as a range of apartments and houses. The town centre with all its amenities including excellent bars, shops and restaurants is readily accessible, as are good road and rail links, the famed Valley Gardens are within 500m and there are good schools for all ages in the vicinity.

DESCRIPTION
A landmark mixed commercial and residential investment opportunity. This prominently positioned property comprises three separate commercial units, two 1 bedroom properties and one 2 bedroom property covering all three floors of the building plus cellar.

Currently generating a gross annual income of £44,880, we believe there is scope for increasing rents for the apartments following modernisation works. The current yield based on our guide price is 6.19%

40 Cold Bath Road.

Ground floor shop let to Prontoclean at 10,000.00 per annum, to March 2025.

Flat 1. First floor 1 bed. Let at £555.00(6660.00 pa) Flat 2. First floor let at £470.00(5640.00pa) Flat 3. Second floor. Let at £715.00pcm (8580.00)pa.

146 Valley Drive
Ground floor shop, let to Valley Barbers at 8,500.00 per annum to December 2028.

148 Valley Drive
Ground floor shop, let to Tanning TC's Centre
£5,500.00 per annum to December 2028.

Total gross annual income: 44,880.00

The commercial tenancies are on full repairing and insuring leases.

SERVICES
All mains services are connected to the property.

TERMS
Freehold. The property is for sale subject to the existing tenancies.

OUTGOINGS
Rateable Value: £10,500.
Uniform Business Rate for 2020/21: £0.512.
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.