Unit 1 Whitfield Business Business, Manse Lane, Knaresborough, HG5 8BS

Description
The property provides the first unit (semi-detached) of a commercial purpose built two-storey office building built in around 2008.
The property provides a recently refurbished modern open plan office that has been partitioned to provide a feature glazed board room, rear office area, kitchen, server room and WC facility on the ground floor. The first floor provides an open plan office and additional WC facility.
The property benefits from the following summary specification
- refurbished office accommodation with a modern contemporary finish
- gas central heating
- suspended ceiling with integrate lighting
- floor boxes with data and power points
- 4 car parking spaces

Location
Knaresborough is an historic market town and spa town (mentioned in The Domesday Book) four miles from the centre of Harrogate and approximately 15 miles west of York. The property is located at Whitfield Business Park off Manse Lane an established commercial area located just outside Knaresborough Town Centre.

Tenure
The property is held on a long leasehold title of 999 years wef 2nd May 2008 at an annual ground rent of £100 p.a. The property is currently let on an occupational effective FRI lease to Integral IT for a 3 year term wef 19/07/2024 at a rent of £19,200 p.a.

A purchase at £260,000 reflects a NIY of 7.2% after the usual purchasers costs and a reversionary yield of 7.6% after the usual purchasers costs at a market rent of £15.50 psf. In our opinion the vacant possession value of the property would be in the region of £285,000 underpinning the investment value.