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Lot 6 Click here for addendum

Freehold Town Centre Commercial Investment
In same ownership for over 48 years
6 Week Completion

Situation

In this pedestrianised retail thoroughfare between Cambridge Street and Cheltenham Parade in the heart of the town centre, amongst multiple retailers such as Specsavers, Subway, WHSmiths, Costa and CEX as well as a variety of independent traders, whilst also being located directly opposite Harrogate Bus Station on Station Parade.
Harrogate is a spa town, popular with tourists, enjoying high footfall located approximately 11 miles north of Leeds and 18 miles west of York.

Property

A mid terrace building with frontages to both Beulah Street and Station Parade comprising a Ground Floor Coffee Shop with Ancillary Accommodation on basement, first and second floor levels.

Accommodation¹

Ground Floor Coffee Shop
Gross Frontage (Beulah Street) 14'2"
Gross Frontage (Station Parade) 15'4"
Built Depth 45'7"
Area Approx. 574 sq ft
Basement Area Approx. 375 sq ft
First Floor Area Approx. 501 sq ft
WC
Second Floor Ancillary Area Approx. 503 sq ft

Total Area Approx 1,953 sq ft

¹Not inspected by Barnett Ross. Areas taken from VOA.

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to H. Laayoune (with Guarantor) as a Coffee Shop for a term of 5 years from 30th April 2019 at a current rent of £21,000 per annum exclusive, rising to £22,000 in 2022 and £23,000 in 2023.

Note: The property has recently been substantially rebuilt following a fire in June 2019.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

28 Beulah Street, Harrogate, North Yorkshire HG1 1QH