Wesley Street, Otley

Circa £110,000

INVESTMENT

Description
A superb opportunity to acquire this immaculate investment property, comprising a ground floor café with basement storage and a first and second floor, 1 bedroom maisonette The current annual rental is £10,880 and thus delivers a gross yield close to 10% based on the guide price. The current café business has been trading from the site for over 20 years and the fully self-contained first and second floor maisonette is let on Assured Shorthold Tenancy.

This superb opportunity represents an excellent investment given the well run tenancies and beautifully maintained property created by the current vendors.

Location
The property is located on a prominent corner site, just off the main A659 Boroughgate and is therefore close to the town centre and amenities as well as transport links.

Tenure
Freehold but subject to the tenancies:
Shop let until June 2021 at the annual rental of £4,940 payable monthly, let to Rafferty's Café.
1st and 2nd floor maisonette is let at the rental of £5,940 per annum, payable monthly until the 30th June 2019.

Services
All mains services are connected to the property.

Energy Performance Certificate (EPC) Rating
Commercial Unit - Grade D.
Flat - Grade E.

Solicitors
Walker Foster, 3 High Street, Skipton, BD23 1AA.
Tel: 01756 700200 FAO: David Barton.

Auction viewings take place as blocked appointments.
Tel. 01423 501211.

Viewing by appointment only.

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Our next auction is on 4th October 2018

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