The property comprises a singular rectangular shaped parcel of land comprising 32 garages within 6 separate blocks with turning / circulation space between.
Starbeck is approximately two miles east of Harrogate and approximately two miles west of Knaresborough. The subject property is situated fronting Diamond Grove which is accessed from The Avenue which in turn is accessed from the A59 High Street close to the centre of Starbeck.
We understand the property is held on a freehold title subject to 16 garages let on monthly tenancy agreements producing £9,600 + VAT p.a. based upon £50 per garage per month. The remaining 16 garages are vacant. Further details available on request.
In our opinion the site has potential for alternative forms of redevelopment (residential or light industrial), subject to obtaining the necessary Local Authority consents including planning. A purchaser must satisfy themselves with the planning potential for the site as only unconditional bids will be considered.
Asset Management Opportunities
The vacant garages could be refurbished and re-let to produce a further income stream of approximately £9,600 p.a. based on £50 per garage per month. The total income if fully let on this basis could be circa £19,200 + VAT p.a. Alternatively the site could be redeveloped by an owner occupier or investor as light industrial or residential subject to planning.
We understand the property is not listed with the rating list and so no rates are payable on the property.
We understand no VAT will be chargeable on the price.