Sandbeck Way, Wetherby

Guide price £1,000,000
6,555 sq. ft.

Description

Knights house comprises a modern two storey detached office block which has been constructed to a high specification throughout. This includes suspended ceilings, carpets throughout, gas central heating as well as being fully cabled. Further benefits include an internal lift, DDA compliance as well as substantial external parking.

The ground floor is let with the first floor currently vacant. The property would therefore suit those looking for an investment opportunity or alternatively a business looking to occupy the first floor and benefit from the ground floor rental income.

Location

The property is situated off Sandbeck Way, in what is known as a popular mixed use commercial area. Other local uses include a mix of both office accommodation and industrial occupiers. The property is only short distance away from Wetherby Town Centre and is approximately 1 mile from the A1 (M) making commuting to and from the local area ideal.

Existing tenancy

The ground floor suite is let to 'Home Group Developments' for a term of 15 years from 1st February 2016. This is at an annual rent of £40,625 with a tenant only break option on 1st February 2021. Further details on the tenant can be provided on application to the agent.

Potential incomes

The first floor is currently vacant and offers space in excess of 3,305 sq ft. It is anticipated that once let this floor would generate a further income of approximately £41,312 which equates to £12.50 per square foot.

Tenure

The property is available to purchase freehold at a guide price of £1,000,000. This reflects an reversionary yield of 7.5% once the first floor is let.

Rateable Value

Rateable Value: £27,750
Uniform Business Rate for 2017/17 £0.479.
Small business rate relief may be available to some occupiers. Further enquiries should be directed to HBC 01423 500600

Planning

The building has consent to be used as office accommodation B1 in the use classes order. 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.

Costs

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

VAT

All figures quoted are deemed exclusive of VAT where applicable.

Viewing

Strictly by appointment with the agent Tel: 01423 501211

Knights house comprises a modern two storey detached office block which has been constructed to a high specification throughout. This includes suspended ceilings, carpets throughout, gas central heating as well as being fully cabled. Further benefits include an internal lift, DDA compliance as well as substantial external parking.

The ground floor is let with the first floor currently vacant. The property would therefore suit those looking for an investment opportunity or alternatively a business looking to occupy the first floor and benefit from the ground floor rental income.

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Our next auction is on 17 May 2018

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