Retail Property (high street) for sale

2 - 4 Bridge Street,Bedale,DL8

Offers in Region of 2,802 sq. ft. | £375,000

Property Description

Commercial information

  • 2,802 sq ft (260 sq m)
  • Use class orders: A1 Shops and A2 Financial and Professional Services

Full description

Tenure: Leasehold

INVESTMENT SUMMARY
3 shops - 2 on occupational leases & 1 Long Leasehold
Attractive Market Town of Bedale
Fully let and income producing
Rental income 38,940 pax (after rent top ups)
Offers in the region of 375,000 (Three Hundred and SeventyThousand Pounds) exclusive, Subject to Contract
Attractive 9.89% Net initial yield (allowing for purchaser's costs at 4.8%)

LOCATION
Bedale is a market town and civil parish in the district of Hambleton, North Yorkshire, England. Historically part of the North Riding of Yorkshire, it is situated 34 miles north of Leeds, 26 miles south-west of Middlesbrough and 7 miles south-west of the county town of Northallerton. It is a picturesque and traditional town with wide market street offering free car parking. The town is a popular tourist town and the gateway to the Yorkshire dales.

SITUATION
The property is situated on Bridge Street close the junction with Market place. Nearby occupiers in the town include, Tesco, Coop, and a variety of local niche retailers. The parade is adjacent to a convenient council pay and display car park.

ACCOMMODATION
Briefly, the retail property provides 3 shop units with a total GIA floor area of 260.3m2 (2,802 sq ft). All shops connect onto a rear service corridor with shared DWC and Bin store. (See tenancy schedule for full details.)

TENURE
Long Leasehold - Original 999 years from 2010.

VAT
There is no VAT chargeable on the sale.

BACK GROUND
Both Cupcake Dreams and Bedale flooring started their businesses in this development in May/June 2014. Both businesses quickly flourished which lead to relocations to larger units. This restructuring of the leases is the reason for the annual rentals payable in each year of the term as per the schedule below

Broadacres insure the building and maintain the Fire alarm and all tenants contribute.

PRICE
Offers sought in the region of 375,000 (Three Hundred and Seventy Five Thousand Pounds) exclusive, Subject to Contract, and reflecting a net initial yield of 9.89% (after allowing for purchaser's costs at 4.8%) and after vendor rental top up to annual rents of 38,580 pax over the term.

More information from this agent

Nearest stations

  • Bedale (0.1 mi)
  • Leeming Bar (1.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Connect Property North East Ltd, Stockton-On-Tees

4 Halegrove Court Cygnet Drive Preston Farm Business Park TS18 3DB

01642 268182 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans


To view this property or request more details, contact:

Connect Property North East Ltd, Stockton-On-Tees

4 Halegrove Court Cygnet Drive Preston Farm Business Park TS18 3DB

01642 268182 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Bedale (0.1 mi)
  • Leeming Bar (1.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Connect Property North East Ltd, Stockton-On-Tees

4 Halegrove Court Cygnet Drive Preston Farm Business Park TS18 3DB

01642 268182 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 2BridgeStreetBEDALE. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Connect Property North East Ltd, Stockton-On-Tees. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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