The property comprises a mixed-use commercial and residential investment opportunity with accommodation configured as follows:
Ground Floor - Retail shop premises Let to Milk & Honey of Harrogate Ltd. The premises comprise ground floor retail space accessed off Cheltenham Parade with two main sales areas situated to the front and rear of the property. To the rear, there is a small store area and WC.
The tenant occupies the adjoining property and has undertaken works to create a larger interconnected retail space. The works are subject to reinstatement should the tenant vacate.
The current lease is dated 24th June 2015 and the tenant is currently holding over. The rent passing under the lease equates to £9,700 per annum. As a result of COVID a short term rent reduction has been agreed with the tenant reflecting a rent passing of £550 per month.
Lower Ground Floor/Basement - Workshop/garage premises Let to B spoke Upholstery. The lower ground basement/garage is accessed from Back Granville Road. The unit comprises basement storage space with small WC.
The tenant is holding over with the existing lease having expired 30th November 2018. The rent passing equates to £5,000 per annum.
First Floor: Residential flat Let on an AST until 30th September 2021. The rent passing equates to £525per month (£6,300 pa)
Second Floor: Residential flat Let on an AST until 27th February 2022. The rent passing equates to £525per month (£6,300 pa)
Mixed use commercial / residential Investment
Prominent location in Harrogate
Total Income - £27,300 pa
Available on request.
The property is located prominently on Cheltenham Parade in the centre of Harrogate. The property is situated in a mixed commercial/residential location. The majority of ground floor uses on Cheltenham Parade include retail/restaurant premises with residential use allocated to the upper floors.
Terms & Conditions
The property is available For Sale as a mixed use income producing investment opportunity.