Restaurant for sale

Cattlemens Association, 17 Cheltenham Crescent, Harrogate, HG1 1DH

Guide Price £399,000

Property Description

Commercial information

  • Business for sale

Key features

  • Investment opportunity, 3 storey property
  • Harrogate town centre
  • Tenant in situ
  • New 10 year FRI lease in place - 6.6% yield
  • 26,300 per annum rental income
  • Adjacent to International Conference Centre. Energy Rating D

Full description

Tenure: Freehold

Description

A three storey, semi-detached, stone built property containing a 70 cover restaurant, commercial kitchens and office space.

The property is located on one of Harrogate's busiest commercial roads.

Location

The Cattlemens Association is located on Cheltenham Crescent in Harrogate, one of the busiest dining locations in the town, with a wealth of primarily independent restaurants on both sides of the road. Harrogate is a popular spa town in North Yorkshire, circa 16 miles north of Leeds. The town is serviced by the A1, nine miles east, providing easy access across the north.

Close to the restaurant is the Harrogate International Conference Centre, complete with 2,000 seat auditorium, and close proximity to 2,000 hotel rooms including a 214 room Holiday Inn and 107 room Premier Inn, indicating the level of business tourism Harrogate receives.

Internal Details

The ground floor of the property contains the restaurant space with a bar along one side, and circa 70 covers, decorated to complement the American themed cuisine. The first floor contains a full commercial kitchen, with walk in refrigeration and dry storage rooms. The second floor contains a staff changing room and office.

There is a total floor area of 2,508 square feet.

Fixtures & Fittings

The fixtures and fittings are wholly owned by the incumbent tenants.

Tenure Details

A new 10 year FRI lease commenced in March 2017, with break clauses and rent reviews every three years, at a rent of £26,300 per annum. The next rent review is 20th March 2020.

The Opportunity

The Cattlemens Association offers the rare opportunity to purchase a freehold property on one of Harrogate’s busiest commercial roads. The business is currently owned by a local multiple operator who is now downsizing their portfolio.

The new tenants have been involved in the business as management and staff for several years, and are ideal to continue the success of the business.


More information from this agent

Nearest stations

  • Harrogate (0.2 mi)
  • Hornbeam Park (1.2 mi)
  • Starbeck (1.7 mi)
Distances are straight line measurements from centre of postcode

Map & Street View

Nearest stations

  • Harrogate (0.2 mi)
  • Hornbeam Park (1.2 mi)
  • Starbeck (1.7 mi)
Distances are straight line measurements from centre of postcode

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