3 & 5 Blake Street, York, North Yorkshire, YO1 8QJ
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
High street retail property for sale
- USE CLASSUse class orders: A1 Shops, A2 Financial and Professional Services, A3 Restaurants and Cafes and Class E
A1, A2, A3, E
Key features
- Both units let on long term EFRI leases
- Producing £75,000 per annum with room to potentially grow the rent roll at review
- Prime location in York City Centre
- Nearby occupiers include New Look, Lakeland, McDonalds, Berrys, Bettys and The Ivy
- Close to York Minster
- Residential Accommodation within the first floor has been sold off
Description
The subject units are located on Blake Street, a busy Retail and Leisure destination within the heart of York City Centre. Nearby occupiers include Ask, Toni & Guy, New Look, McDonalds and Lakeland to name a few.
DESCRIPTION
The property comprises two ground floor Retail/ Leisure units let separately generating £75,000 per annum exclusive. Above there are 4 residential units which have been sold off on 999 year leases from January 2007 at a ground rent of £10 pa each.
SIZE
3 Blake Street - 1,137 sq ft
5 Blake Street - 746 sq ft
TENANCY INFORMATION
The properties are both let on EFRI leases on the following terms:
3 Blake Street - 7 years from November 2024 to Mr Michael Brett at £45,000 pax with a Rent Review and Tenant only break option in November 2029.
5 Blake Street - 10 years from February 2020 to Clarksons (Petergate) Limited at £30,000 pax. There is an outstanding Rent Review from February 2025.
PROPOSAL
Offers are invited in the region of £900,000 which reflects an attractive 8.3% Gross Initial Yield.
Brochures
3 & 5 Blake Street, York, North Yorkshire, YO1 8QJ
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- York Station0.4 miles
- Poppleton Station2.8 miles
About Colenso Commercial Agency Limited, York
Colenso House, Omega 1 Monks Cross Drive Huntington York YO32 9GZNotes
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