East Parade, Harrogate, HG1 5LQ
£1,000,000

• Investment opportunity
• Beautiful architectural detail
• Annual gross income £63,860.00
• Rear carpark
• Central location
• All mains services are connected to some of the property. Gas central heating only in flats 1 and 2 No 57 and basement office No 57. Heating in ground floor 59 is gas central but supplied from the club. All rest of flats and basement office 59 have electric heating. Council Tax Harrogate Conservative Club and Flat 1 57 East Parade - Band B All other flats - Band A

Forming a mixed commercial and residential investment the buildings are modernised and comprise seven self-contained 1and 2 bedroom apartments plus commercial offices and meeting rooms.

The residential apartments currently generate an annual gross income of £50,460.00. Two of the offices are currently let on commercial leases and produce a rental income of £13,400 per annum (currently subject to lease renewal and rent increases) plus additional commercial space currently not formally let. There may also be good opportunities to further increase rents subject to negotiation and tenancy terms.

This substantial property extends to over 7000 ft.² and offers opportunities for further enhancement and development subject to planning consent and requirements.

There are two good forecourts to the front of the building buildings and a rear car park area which is most use useful given this central location.

Situated adjacent to the Harrogate Conservative Club and being within 500m of Harrogate’s bus and rail stations as well as Harrogate town Centre with it array of excellent shopping facilities, bars, restaurants and general amenities.

Offers are invited for the freehold interest subject to the residential and commercial tenancies.

Current tenancies and rent role
Apt 1 57 East Parade 1st Floor £750.00 p.c.m.
Apt 2 57 East Parade 2nd Floor £650.00 p.c.m.
Apt 3 57 East Parade Ground Floor £650.00 p.c.m.

Rear Ground Floor and Basement 57 East Parade and basement of 59 East Parade. 10 year term expiring 18th July 2026. £13,400 per annum. (Agents note: The landlord and commercial tenants have negotiated a further 3 year tenancy extension from July 2026).

Apt 1 59 East Parade 1st Floor rear £530.00 p.c.m.
Apt 2 59 East Parade 1st Floor front £550.00 p.c.m.
Apt 3 59 East Parade 2nd Floor rear £525.00 p.c.m.
Apt 4 59 East Parade 2nd Floor front £550.00 p.c.m.

Ground Floor 59 East Parade is occupied by Harrogate Conservative Club at a nil rent it can be sold with vacant possession if required or a new lease term negotiated. The vendor will be liable to make good, before completion of the sale if requested, the doorway between 59 and Park View Club.

Total current gross annual income £63,860.00

Gas central heating only in flats 1 and 2 No 57 and basement office No 57. Heating in ground floor 59 is gas central but supplied from the Club and will be capped upon completion of the sale at the vendors expense. All rest of flats and basement office 59 have electric heating.

Agents note: The car park to the rear of the property includes the area directly behind 57 and 59 East Parade. There may be an opportunity for direct access from the rear service road subject to approvals.

Viewing is strictly by appointment with the Agents.

Tenure: Freehold.

Council Tax: Band A.