28 High Street, Knaresborough

POA
Investment on High Street in Knaresborough Town Centre
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  • Ref: 190051
  • Type: Investment
  • Availability: Available
1,005 sq.ft.

Property Features

  • Investment - freehold subject to the occupational lease on the retail
  • Subject to long leasehold interest on residential above
  • Shop (as takeaway) is let on 15 year lease @ £16,500 p.a.
  • Investment price of £215,000 reflects attractive NIY of c.7.5%

Full Details

The property provides the whole of this end brick built terrace property under a pitched tiled roof. The takeaway on the ground floor comprises a retail sales area and several preparation rooms/storage rooms to the rear of the property. An integral staircase leads to the first floor, providing ancillary staff/storage facilities.

Location
The property is situated in a prominent position at he top end south eastern section of the High Street. It is located opposite the bus station providing a very visible return frontage window display onto the High Street and side street Park Place.
Knaresborough is an historic market town and spa town in the Borough of Harrogate. It is located on the River Nidd 4 miles east of the centre of Harrogate and approximately 15 miles west of York.

Occupational Lease
The Chinese Takeaway retail premises are currently let on an effective full repairing and insuring 15 year lease (in a personal name) wef 02/05/15 at a current rent of £16,500 p.a. and with upward only 3 yearly rent review provisions.

Tenure
The freehold of the whole building is available subject to the occupational lease on the ground floor shop and the long leasehold interest (999 years wef 25th October 2019) on the residential flat above at a peppercorn rent. There are shared repairing obligations between the shop tenant and the residential flat above.

Available Area

Name/FloorSq FtSq MAvailability
g Floor Sales Area42639.58Available
g Floor Rear Preparation Room11510.68Available
g Floor Store 1847.80Available
g Floor Store 2575.30Available
1st Floor Staff Room23521.83Available
1st Floor Store888.18Available
Total1,00593.37