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Commercial Property for sale

Long Street, Easingwold

£210,000

Property Description

Full description

Mixed use investment, presently producing £16,250 per annum.

Location - The property is located to the north of Long Street, the main east-west thoroughfare of Easingwold. Nearby occupiers include Page Opticians, Dough & Deli and Orgella Hair & Beauty Salon. Easingwold historically grew as an agrarian settlement, but in more recent years it has become a popular commuter town to York and beyond.

Description - The property is a terraced unit of solid brick construction, surmounted by a pitched, clay tile covered roof. We believe that it will originally have formed two terraced houses, which have subsequently been combined and extended to the rear. To the front is a bay window and now blocked door to the west. To the east is a timber framed, almost full height, glazed shop front. To the rear are two doors set within a lean-to extension. One provides access to the ground floor, with the other to the upper floor residential accommodation. Windows to the rear are generally uPVC double glazed replacements, with a dormer to the attic. Externally is a walled yard area set to gravel. Our clients have informed us that the nearest half is demised to the tenant of the ground floor, with the remainder to the residential accommodation above. The shop benefits from a mains sales area, kitchenette, toilet, storage room and office. The residential accommodation includes two reception rooms, a bathroom and kitchen. Above this, within the attic area, are two bedrooms.

Accommodation - Ground Floor Sales - 57m2/614sq ft
Ground Floor Ancillary - 12m2/129sq ft
Sub-Total Ground Floor - 69m"/743sq ft
First Floor - 44m2/474sq ft
Attic - 36m2/388sq ft
Sub-Total Residential - 80m2/862sq ft
TOTAL - 149m2/1,605sq ft

Tenure - The property is held on a freehold basis, although we understand the residential and commercial elements have been split into two separate titles.

Tenancies - The ground floor commercial element is let to Stephen Atkinson (t/a Purdeys) for 12 years from 29/05/2012. The current rent passing is £9,650pa. The lease is on an internal repairing (plus shop front) basis, with the tenant responsible for utilities and non-domestic rates. The tenant also makes a contribution towards the wider property's buildings insurance. The rent is reviewed every 3 years on an upwards only basis. The next rent review date is 29/05/2018. The upper floors are let under a Standard Assured Shorthold Tenancy Agreement at £550pcm. The tenant is responsible for the payment of Council Tax and utilities. The total rent roll is thus £16,250pa.

Planning - The property is located within Easingwold's Conservation Area. We assume that the ground floor benefits from planning permission for A1 (retail) purposes, with the upper floors benefiting from planning permission for C3 (dwelling unit) purposes.

Terms - The property is available for £210,000.

Viewings/Further Info - lease contact our Commercial Property Manager, James Reynolds, on 07894 697729 / james@stephensons4property.co.uk

Rates - We understand that the ground floor commercial element is assessed for non-domestic rates as having a rateable value of £5,500. The upper floor residential accommodation appears to be assessed for Council Tax purposes as falling within Band B. The respective tenants are responsible for the costs of this.


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