1 Commercial Street and 2 Mount Parade, Harrogate

£675,000
Town Centre Investment Opportunity in Harrogate
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  • Ref: 189704
  • Type: Investment
  • Availability: Available
3,612 sq.ft.

Property Features

  • Investment opportunity in Harrogate Town Centre
  • Asset Management and Rental Growth Opportunities
  • 2 Retail Outlets let producing £13,200 p.a.
  • Offices to be sold with VP - suitable for Residential Development STPP

Full Details

The premises comprise the whole of a semi-detached, four storey building which spans between the two streets of Mount Parade and Commercial Street. The property comprises a retail shop occupied by The Cheeseboard and The Retro Club on the LGF from Commercial Street. The property also provides offices from Mount Parade and above The Cheeseboard Shop. In our opinion this could be suitable for continued office use (following a series of refurbishment works or residential STPP).

Location
The property is situated on Commercial Street and Mount Parade close to Station Parade and its intersection with Beulah Street.

Occupational Leases & Tenure
The Cheeseboard are long standing tenants, holding over for many years at a rental of £6,000 p.a. The Retro Club have also been holding over for some time at a rental of £7,200 p.a. The property is to be sold freehold with vacant possession of the offices (separate access) and the existing holding over leases to The Cheeseboard and The Retro Club.

Asset Management Opportunities
There is scope to re-new the leases on the retail and re-balance the rents upwards to achieve higher rents in line with other shops on the street. The former office premises provide potential to be refurbished, upgraded, and occupied as offices or converted into residential STPP.

Available Area

Name/FloorSq FtSq MPriceAvailability
lg Retro Club Bar/Dance Floor 1 Commercial Street86179.99On ApplicationAvailable
g Floor Retail Sales/Office 1 Commercial Street37434.75On ApplicationAvailable
basement Basement Store 1 Commercial Street20018.58On ApplicationAvailable
g Floor Offices 2 Mount Parade44741.53On ApplicationAvailable
1st Floor Offices/Kitchen75169.77On ApplicationAvailable
2nd Floor Offices85779.62On ApplicationAvailable
unit Attic Store12211.33On ApplicationAvailable
Total3,612335.57