Retail premises for sale

Commercial Street, Norton YO17

Location

The property occupies a prominent position on Commercial Street within Norton-on-Derwent, a well established town adjoining the market town of Malton. Commercial Street serves as Norton’s principal local thoroughfare, comprising a mix of independent retailers, convenience stores, food operators and local service businesses. A new Aldi supermarket is currently being built on Commercial Street and is set to open in Autumn 2026 further increasing footfall in the town.

Norton-on-Derwent lies 0.8 miles to the east of Malton town centre, linked via Norton Road and the River Derwent crossings, allowing easy access to the wider retail, leisure and transport amenities available within Malton. The area benefits from a strong local residential catchment together with passing traffic and pedestrian movement between Norton and Malton.

The property benefits from good transport connectivity, with the A64 located nearby providing direct access to York, Scarborough and the wider regional road network. Malton railway station is situated within close proximity and offers regular rail services to York, Leeds and the Yorkshire coast, while local bus services operate throughout the surrounding area.
Description

The property comprises a substantial three-storey end-terrace building of traditional red brick construction beneath a pitched slate roof. The building occupies a prominent corner position fronting Commercial Street and benefits from an extensive glazed retail frontage at ground floor level together with separate entrances to the upper flats and rear servicing area. Externally, the property benefits from a rear access lane providing access to the service yard and car park.

Internally, the ground floor comprises an open plan retail sales area to the front, together with ancillary storage accommodation, office and staff facilities to the rear. The layout is configured to support convenience retail use and benefits from a rear service yard.

The upper parts comprise two self-contained residential flats situated over first & second floor level, accessed independently from the retail accommodation. The flats provide well-configured residential accommodation which are let to the occupiers on long leaseholds.
Tenancy

The ground floor retail unit is let to Ebor Foodmarkets Ltd t/a Costcutter on a 15 year effective Fri lease from 10th May 2016, expiring 9th May 2031 at a current passing rental of £20,000 per annum. The lease provides an upwards only, open market rent review on 10th May 2026. The tenant did not exercise their break option on 9th May 2026.

Both flats are let on long leaseholds. Flat 61A is let on a 150 year term from 25th May 2006, expiring on 24th May 2156 at a peppercorn rental. Flat 63A is let on a 150 year term from 25th July 2005 expiring 24th July 2155 at a peppercorn rental.
Covenant information

Ebor Foodmarkets Ltd (company number: 01698597) is an established convenience food retailer incorporated in 1983 with over 40 years’ trading history. For the year ending 30th June 2025 they reported a turnover of £31,976,845 and pre-tax profits of £224,030.
Price

We are instructed to seek offers in the region of £275,000 (two hundred and seventy five thousand pounds) subject to contract and exclusive of VAT for the freehold interest in the property. This would show a purchaser a net initial yield of 7.06% allowing for the normal costs of acquisition.