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Victoria Road, Scarborough Offers in Excess of £100,000

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    Victoria Road
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    Victoria Road

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  • Commercial Investment Opportunity
  • Occupied by Same Tenant for 16 Years
  • Current Rent is £200 per week (£10,400pa)
  • Represents a Gross Yield in excess of 10%
  • All Enquiries to CPH Property Services

Offered to the market is this extensive retail investment opportunity, situated in a prominent position on busy Victoria Road. The unit has been let out to a local upholstery business for the last 16 years with the current rent payable equating to £200 per week (£10,400pa). The lease is now 'holding over' but there maybe scope to agree a new lease directly with the tenant.  This is a fantastic and realistically priced investment which yields over 10%.  Call our friendly team today on 01723 352235 to arrange your viewing.


Rooms

Location:

Scarborough is an established commercial, tourist and retail centre, lying approximately 40 miles east of York with a population of in the region of 81,000 people and a district population of around 110,000 persons (Sources: ONS and Focus). The town is adjacent to the North Yorkshire Moors National Park and is one of the principal resorts on the north east coast attracting an estimated 7 million visitors a year. The premises occupy a good trading position on busy Victoria Road, in a block bounded by Nelson Street and Hoxton Road. Victoria Road is a popular secondary commercial location benefiting from high levels of both vehicular and pedestrian traffic flows.

Description:

The property comprises of a ground and lower ground floor retail / showroom premises contained with a mid terrace brick constructed property. The unit benefits from an attractive frontage with generous display windows together with a projecting canopy with prominent fascia. The unit is quite elongated in size, providing excellent sales space at ground floor level, whilst at lower ground floor level lies useful storage & workshop accommodation together with two toilet facilities and kitchenette.

Accommodation:

We have measured the property in accordance with the RICS Code of Measuring Practice 6th Edition and can confirm the property extends to a gross area of approximately 237.30 sq m (2,554 sq ft) over the two levels.

The Lease:

The premises are let to Mr David Johnson who trades in upholstery and furnishings. The lease is currently 'holding over' and the rent payable is £200 per week (£10,400pa). We understand the tenant would be open to signing a new lease - subject to contract. A copy of the original lease can be viewed at our offices to seriously interest parties.

Tenure:

Believed to be freehold - subject to the occupational tenancy to Mr D Johnson. We understand any maintenance for the building is split equally between the commercial unit and the owner of the flats above - subject to legal confirmation.

Business Rates:

The property has been assessed for business rates as follows: Rateable Value - £11,750 The property therefore qualifies for 100% small business rates relief. Further details are available on request.

Services:

We understand the property benefits from mains electric, gas and water supplies. Prospective purchasers are advised to make their own enquiries with regards to services connected.

Energy Performance Certificate (EPC):

Band C

VAT:

VAT, if applicable, will be charged at the prevailing rate.

Viewing:

Via the sole selling agents: CPH Property Services 19 St Thomas Street Scarborough YO11 1DY 01723 352235 joe@cphproperty.co.uk

Details Prepared:

11072018 JW


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EPC

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Nearby Places

Name Location Type Distance
Victoria Road
Scarborough YO11 1SH
County: North Yorkshire
Sale Type: For Sale
Ref #: ESC 11183
Joe Walker
CPH - Sales
 
  01723 352235