Guide price
£695,000
(£65.66/sq. ft)
Light industrial for saleGladstone Lane, Scarborough YO12
10,585 sq. ft
About this property
Interesting character property
Strong letting profile
Mixed commercial and residential area
Close to town centre and main routes
Location
The Tonks Building is situated on Gladstone Lane facing up Raleigh Street approximately 0.5 mile west of Scarborough town centre. It is within a built up, primarily residential area but with a number of commercial uses in the vicinity.
Scarborough is an east coast holiday resort situated approximately 36 miles east of York and 40 miles to the north of Hull, with a total catchment population of 82,000 people approx.
As well as being a renowned seaside resort, the town has previously achieved an international commercial reputation having been voted Europes most enterprising town. It hosts a number of well known businesses with major employers including Anglo American, McCain Frozen Foods, Associated Cold Stores and Plaxton Coachworks. There is substantial growth expected in line with the arrival of major mining and wind farm businesses.
Description
The subject property comprises a part single, part 2-storey building of traditional brick construction with interesting retained architectural features. The building is currently laid out in a series of sections and rooms. At ground floor level there are self-storage units set around an internal courtyard with shared WC and kitchenette, workshops and stores and a showroom. At first floor level there are well specified glazed offices with fitted kitchen and canteen and WCs, there are further self-storage units.
Floor area (Gross Internal approx)
Ground floor – 545.6 sq m (5,873 sq ft)
First Floor - 437.8 sq m (4,712 sq ft)
Total - 983.4 sq m (10,585 sq ft)
Services
The property is connected for mains electricity (including 3-phase), gas, water and drainage. The offices are heated by a gas fired central heating boiler (the cost is included in the service charge). Other than the self-storage most units are separately metered for electricity.
There is CCTV that records to a dvr.
Occupiers uses
The tenants come from a range of business sectors such as theatre, antiques, building and it.
Tenancies
The property currently generates an approximate net rental income of £59,057.96 per annum plus VAT. Please note that this is subject to change and confirmation.
A tenancy schedule can be provided to interested parties.
Rates
Tenants are responsible for their own business rates.
Method of sale
The vendors preferred form of sale would be by togc. The property is owned in an spv Minster Properties Space to Work Ltd.
Pricing
£695,000 This provides the buyer with a yield of just over 8% net of purchasers costs.
The Tonks Building is situated on Gladstone Lane facing up Raleigh Street approximately 0.5 mile west of Scarborough town centre. It is within a built up, primarily residential area but with a number of commercial uses in the vicinity.
Scarborough is an east coast holiday resort situated approximately 36 miles east of York and 40 miles to the north of Hull, with a total catchment population of 82,000 people approx.
As well as being a renowned seaside resort, the town has previously achieved an international commercial reputation having been voted Europes most enterprising town. It hosts a number of well known businesses with major employers including Anglo American, McCain Frozen Foods, Associated Cold Stores and Plaxton Coachworks. There is substantial growth expected in line with the arrival of major mining and wind farm businesses.
Description
The subject property comprises a part single, part 2-storey building of traditional brick construction with interesting retained architectural features. The building is currently laid out in a series of sections and rooms. At ground floor level there are self-storage units set around an internal courtyard with shared WC and kitchenette, workshops and stores and a showroom. At first floor level there are well specified glazed offices with fitted kitchen and canteen and WCs, there are further self-storage units.
Floor area (Gross Internal approx)
Ground floor – 545.6 sq m (5,873 sq ft)
First Floor - 437.8 sq m (4,712 sq ft)
Total - 983.4 sq m (10,585 sq ft)
Services
The property is connected for mains electricity (including 3-phase), gas, water and drainage. The offices are heated by a gas fired central heating boiler (the cost is included in the service charge). Other than the self-storage most units are separately metered for electricity.
There is CCTV that records to a dvr.
Occupiers uses
The tenants come from a range of business sectors such as theatre, antiques, building and it.
Tenancies
The property currently generates an approximate net rental income of £59,057.96 per annum plus VAT. Please note that this is subject to change and confirmation.
A tenancy schedule can be provided to interested parties.
Rates
Tenants are responsible for their own business rates.
Method of sale
The vendors preferred form of sale would be by togc. The property is owned in an spv Minster Properties Space to Work Ltd.
Pricing
£695,000 This provides the buyer with a yield of just over 8% net of purchasers costs.
Mortgage calculator
Monthly repayment
£3,476 per month
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