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Commercial Property for sale

Scott Road, Selby

Guide Price £149,950

Property Description

Full description

Selby town centre fully let investment property recently refurbished to a high standard of finish and producing £12,900 per annum.

Location - The property is located close to the centre of the popular market town of Selby. It occupies a prominent trading position, close to the junction of Gowthorpe, Leeds Road, Brook Street and Scott Road. The main public car parks of Selby and the recently constructed New Walk Shopping Centre are a short distance to the north-east. The new Selby Leisure Centre is a short distance to the north-west.

Descripton - The property has been extensively refurbished and extended since our clients purchased it.

To the ground floor are two shops (21 and 23 Scott Road). These both benefit from their own shop frontages, with centrally positioned customer doors. Between the two units is a shared DDA compliant toilet/amenity block. To the rear of the property is a secure yard, from which access to a first floor unit (21a Scott Road) is gained. This forms a self-contained office unit.

Accommodation - Unit 21 - 19 m2 approx - 205 sq. ft. net internal area
Unit 23 - 19 m2 approx - 205 sq. ft. net internal area
G/F Communal Areas - 6 m2 approx - 64 sq. ft. net internal area
Unit 21A - 38 m2 approx - 409 sq. ft. net internal area
TOTAL - 82 ms approx - 883 sq. ft. net internal area

Services/Building Insurance - The property benefits from mains services of water, drainage and electricity. Electricity sub meters are provided in respect of the individual units. The cost of services is passed back to the tenants as additional rent/service charge (£50pcm for electricity, £7pcm for water and £16pcm for buildings insurance).

Planning - The units have planning permission for A1 (retail) purposes.

Tenure - Freehold.

Epc - EPC Ratings for the individual units are as follows:-
21 C (56); 21a C (66); 23 C (68)
This indicates a fairly high level of energy efficiency.

Local Taxation - Each unit is separately assessed for non-domestic rating purposes as follows:-
Unit 21 rateable value £1,975
Unit 23 rateable valule £2,125
Unit 21a rateable value £2,200
All tenants meet the cost of their own non-domestic rates, although they are all presently eligible for small business rates relief.

Tenancies - Unit 23 is let to Lucy Jane for 5 years from 01/12/2015 at £325pcm. We understand that there is a tenants break option after 3 years.

Unit 21 is let to Liz Laughton (T/A Gorgeous Nails) at £325pcm. The lease expires in August 2017.

Unit 21a has recently been let to the DISC Charity at £425pcm from 01/01/2016. There is abreak option on 01/01/2018, and the lease expires on 31/12/2020.

All leases are on an internal repairing basis. The rent roll is thus £12,900pa (£15,420pa including service charge).

Proposals - Offers are sought in the region of £149,950, reflecting a gross all risks yield of 8.6%. We are informed that the property is not elected for VAT.

Viewing/Further Information - Please contact James Reynolds on 07894 697729 /

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