Guide price
£650,000
(£520.00/sq. ft)
Retail premises for saleOtley Street, Skipton BD23
50 sq. ft
About this property
Investment Opportunity - Freehold for Sale
Well-let mixed commercial and residential property
Superb location a short distance from the High Street
2 retail units & 2 self contained 2-bed flats
Current income £48,440 pa net
Guide Price £650,000 (offers)
Location & description
The property comprises two ground floor retail units (The Brown Bag Café and Victoria Jewellers with two modern 2 bed flats (each with small private garden) on first and second floors, all offering accommodation of a high standard.
The retail/cafe units have excellent frontage to
Otley Street – approx. 70m east of the busy High Street, 100m south of the central car park and close to the entrance to the busy Craven Court Shopping Centre. This is a location popular with a wide range of traders, convenient for all amenities (rail and bus stations being within easy walking distance).
Skipton (population. Approx. 17,000) is a very popular market town approx. 22 miles North West of Leeds, 20 miles West of Harrogate.
Accommodation (floor areas approx.)
No14: Café – 50.1 sq.m/593 sq.ft on ground floor with basement storage 15.79 sq.m/170 sq.ft. WC.
No16: Shop – 19.79 sq.m/213 sq.ft with rear workshop 14.31 sq.m/154 sq.ft on ground floor plus WC; basement 11.15 sq.m/120 sq.ft.
Flat 1: (first floor) – Living Room/Kitchen, 2 Beds (one with en-suite) plus Bathroom and WC.
Flat 2: (second floor) – living Room/Kitchen, 2 Beds and Shower Room and WC
Leases
No14: - 5 year lease wef 1st June 2024 on effective Fri terms(*). Tenant break (6m notice) and rent review effective 1st June 2027. Rent £21,500 pa
No16: - 5 year lease wef 1st August 2024 on effective Fri terms(*). Tenant break (6m notice) effective 1st August 2026. Rent £9,600 pa
Flat 1 –AST (2 years) wef 20th March 2025. Rent £750 pcm
Flat 2 – AST (2 years) wef 1st February 2024.Rent £695 pcm
- (*) There is a comprehensive annual service charge in respect of common areas, and external repairs (No 14 – 40%, No 16 - 20%)
- Commercial rents are subject to Vat
- All rents are quoted on an exclusive basis
Services
Mains services, all units individually metered.
EPC
Nos 14 & 16 - C(61); Flat 1 – C(70); Flat 2 – D(65)
Rates
No 14 rv £16,750; No 16 rv £11,500
Flats 1& 2 – Council Tax Band A
Guide price
£650,000 (offers).
A purchase at the above guide equates at a gross return of 7.45%. VAT Applicable (on commercial).
Note – Ground/Lower Ground floors are held within a long lease enabling the commercial elements to be held within a private pension.
Viewing
Strictly by arrangement with sole agents - Atkinson associates
The property comprises two ground floor retail units (The Brown Bag Café and Victoria Jewellers with two modern 2 bed flats (each with small private garden) on first and second floors, all offering accommodation of a high standard.
The retail/cafe units have excellent frontage to
Otley Street – approx. 70m east of the busy High Street, 100m south of the central car park and close to the entrance to the busy Craven Court Shopping Centre. This is a location popular with a wide range of traders, convenient for all amenities (rail and bus stations being within easy walking distance).
Skipton (population. Approx. 17,000) is a very popular market town approx. 22 miles North West of Leeds, 20 miles West of Harrogate.
Accommodation (floor areas approx.)
No14: Café – 50.1 sq.m/593 sq.ft on ground floor with basement storage 15.79 sq.m/170 sq.ft. WC.
No16: Shop – 19.79 sq.m/213 sq.ft with rear workshop 14.31 sq.m/154 sq.ft on ground floor plus WC; basement 11.15 sq.m/120 sq.ft.
Flat 1: (first floor) – Living Room/Kitchen, 2 Beds (one with en-suite) plus Bathroom and WC.
Flat 2: (second floor) – living Room/Kitchen, 2 Beds and Shower Room and WC
Leases
No14: - 5 year lease wef 1st June 2024 on effective Fri terms(*). Tenant break (6m notice) and rent review effective 1st June 2027. Rent £21,500 pa
No16: - 5 year lease wef 1st August 2024 on effective Fri terms(*). Tenant break (6m notice) effective 1st August 2026. Rent £9,600 pa
Flat 1 –AST (2 years) wef 20th March 2025. Rent £750 pcm
Flat 2 – AST (2 years) wef 1st February 2024.Rent £695 pcm
- (*) There is a comprehensive annual service charge in respect of common areas, and external repairs (No 14 – 40%, No 16 - 20%)
- Commercial rents are subject to Vat
- All rents are quoted on an exclusive basis
Services
Mains services, all units individually metered.
EPC
Nos 14 & 16 - C(61); Flat 1 – C(70); Flat 2 – D(65)
Rates
No 14 rv £16,750; No 16 rv £11,500
Flats 1& 2 – Council Tax Band A
Guide price
£650,000 (offers).
A purchase at the above guide equates at a gross return of 7.45%. VAT Applicable (on commercial).
Note – Ground/Lower Ground floors are held within a long lease enabling the commercial elements to be held within a private pension.
Viewing
Strictly by arrangement with sole agents - Atkinson associates
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