Kings Road, Harrogate

Investment Opportunity - Retail Premises in established trading location in Harrogate
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  • Ref: 180864
  • Type: Investment, Retail
  • Availability: Under Offer
582 sq.ft.

Property Features

  • Investment - freehold available subject to the occupational lease on retail and long leasehold on residential above
  • Established trading position in Harrogate
  • Shop is let on a new 6 year lease at £10,500 p.a.
  • Investment price £125,000 reflects attractive NIY of c.8.5% and reversionary yield of approx 10 %

Full Details

The property comprises the ground floor of a mid-terrace, three storey building under a pitched tiled roof with ground floor open plan retail accommodation and ancillary office/staff facilities to the rear of the property. There is also a single car parking space within the rear courtyard.

The property is situated within a parade of shops on the Kings Road, opposite the Sainsbury’s local mini market, close to its junction with the A59 Skipton Road. The Kings Road links the A61 Ripon Road to the west and the A59 to the east of Harrogate Town Centre.
Harrogate is located approximately 17 miles north of Leeds, 21 miles west of York, 11 miles west of the A1(M) and 9 miles from Leeds/Bradford airport.

Occupational Lease
The ground floor retail premises are currently let out on an effective full repairing and insuring 6 year lease at a rental of £10,500 commencing 16th August 2023. The market rent is in our opinion low at £10,500 p.a. and the market rent should be in the region of £12,500 p.a.

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 7th September 2012) on the residential flat above at a peppercorn rent. There are shared repairing obligations between the shop tenant and the first floor flat tenant above.

Available Area

Name/FloorSq FtSq MAvailability
g Floor Retail51047.38Available
g Floor Kitchen726.69Available