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Commercial Development for sale

South Hawksworth Street, Ilkley, LS29

Sold STC £550,000

Property Description

Full description

* Outstanding investment opportunity
* Traditional Victorian Arcade
* Arcade is fully let
* Available to buy on a long lease

Location And Directions - Heading into Ilkley Main Car Park, the premises are at the bottom end of the car park, opposite The Moors Shopping Centre and identifiable by our sign board. The tenants range from local gift retailers to a popular local restaurant and well-established kitchen showroom.

Tenure - The premises are available to purchase leasehold with a term of 94 years unexpired.

Vat - All figures quoted are deemed exclusive of VAT where applicable.

Rateable Value - Rateable Value: TBC
Uniform Business Rate for 2017/17 £0.479.
Small business rate relief may be available to some occupiers. Further enquiries should be directed to HBC 01423 500600

Services - All mains services are connected to the property.

Costs - Unless expressly stated all parties will be responsible for their own legal costs in connection with this transaction.

Planning - Interested parties are advised to make their own enquiries of the local planning authority in respect of planning proposals if any change of use is envisaged.

Viewing - Strictly by appointment with the agent Tel: 01423 501211.

An outstanding investment opportunity to acquire a bijou retail parade in Ilkley in the traditional Victorian Arcade, directly opposite the Moors Shopping Centre and which houses retailers including Boots Opticians, Four kitchens and Specsavers. The premises offers 6 commercial units, 5 of which are retail premises with an office to the first floor.

The tenancy schedule can be provided on request however the Arcade is fully let with a total income equating to £61,365 Per Annum. The premises are available to buy on a long lease with 94 years unexpired. However the freeholder takes a 47% share of the income. The current income for this investment is therefore £32,523.45, however it is envisaged that this could be increased in line with current market rents.

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