Guide price
£249,500
(£1,170.00/sq. ft)
Retail premises for saleKirkgate, Otley LS21
213 sq. ft
About this property
Location
Otley is a thriving market town located 12 miles northwest of Leeds. The property occupies a strong trading position on the prime retail thoroughfare of Kirkgate. Neighbouring occupiers include Boots the Chemist and Costa Coffee.
Description
26 Kirkgate is arranged over ground and two upper floors and is constructed of stone under a pitched slate roof.
The property has undergone a comprehensive refurbishment to provide:-
Ground floor – a self-contained retail unit.
First and second floors – a two bed duplex apartment (refurbished to shell condition only).
Accommodation
The ground floor retail comprises 490 sq. Ft., 46 sq. M.
The first and second floors residential comprise 680 sq. Ft., 64 sq. M.
Total 1170 sq. Ft., 110 sq. M.
The investment
Ground Floor Retail – pre-let for a term of five years from November 2023 at an initial rent of £12,540 p.a. Rising to £13,500 p.a. In years four and five. There is a tenant only break clause at the end of year three.
Residential – 1 2 bed apartment arranged over two floors is proposed. New services installed and rebuilt to a shell specification. It is expected to achieve a monthly rent of £800 under an AST.
The initial annual rent is therefore expected to be in the region of £22,140.
Terms
The property is available freehold with the benefit of the ground floor tenancy at a sales price of £249,500.
Legal costs
Each party responsible for their own legal costs.
Services
We understand that all mains’ services are installed or are available. However, we recommend that prospective occupiers make their own enquiries as to the availability, suitability and capacity of such services.
Viewing
Strictly by appointment only, contact:-
Richard Heslop: Or email
Otley is a thriving market town located 12 miles northwest of Leeds. The property occupies a strong trading position on the prime retail thoroughfare of Kirkgate. Neighbouring occupiers include Boots the Chemist and Costa Coffee.
Description
26 Kirkgate is arranged over ground and two upper floors and is constructed of stone under a pitched slate roof.
The property has undergone a comprehensive refurbishment to provide:-
Ground floor – a self-contained retail unit.
First and second floors – a two bed duplex apartment (refurbished to shell condition only).
Accommodation
The ground floor retail comprises 490 sq. Ft., 46 sq. M.
The first and second floors residential comprise 680 sq. Ft., 64 sq. M.
Total 1170 sq. Ft., 110 sq. M.
The investment
Ground Floor Retail – pre-let for a term of five years from November 2023 at an initial rent of £12,540 p.a. Rising to £13,500 p.a. In years four and five. There is a tenant only break clause at the end of year three.
Residential – 1 2 bed apartment arranged over two floors is proposed. New services installed and rebuilt to a shell specification. It is expected to achieve a monthly rent of £800 under an AST.
The initial annual rent is therefore expected to be in the region of £22,140.
Terms
The property is available freehold with the benefit of the ground floor tenancy at a sales price of £249,500.
Legal costs
Each party responsible for their own legal costs.
Services
We understand that all mains’ services are installed or are available. However, we recommend that prospective occupiers make their own enquiries as to the availability, suitability and capacity of such services.
Viewing
Strictly by appointment only, contact:-
Richard Heslop: Or email
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