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Retail Property (high street) for sale

2 - 4 Bridge Street,Bedale,DL8

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

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

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%)

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.

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.

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.)

Long Leasehold - Original 999 years from 2010.

There is no VAT chargeable on the sale.

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.

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.

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