Oxford Street, Harrogate, North Yorkshire
Size
7,295
Tenure
Freehold
EPC
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Parking
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- Primary use
- High street retail
- Frontage
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No floor / site plan
Key features
- Prime retail parade in the heart of Harrogate town centre, comprising four ground and first floor retail/leisure units fronting Oxford Street together with an additional unit on Union Street
- Let to a strong mix of national and independent retailers and restaurateurs including Geek Retreat, Ryman, Otto Café and Essenza
- Combined total floor area of approximately 7,295 sq ft
- Total rent of £105,500 per annum, comprising a current passing rent of £93,000 per annum together with the agreed terms on 8 Union Street at £12,500 per annum
- Available to purchase as a whole, with consideration also given to splitting and selling as two separate lots
- Freehold
Description
Prime Harrogate Town Centre Retail Parade Investment
30, 32, 34 & 34a Oxford Street & 8 Union Street, Harrogate, HG1 1PP
Location
The properties occupy a prominent position on Oxford Street, one of Harrogate's principal town centre retailing pitches, close to its junction with Parliament Street and Cambridge Road, and within a short walk of the Victoria Shopping Centre and the Marks & Spencer Foodhall.
Nearby occupiers include Marks & Spencer, Tesco Express, Halifax, McDonald's, Superdrug and Ryman, together with a strong food and beverage offer including Bettys, Five Guys, The Ivy and Wagamama. The Jubilee Multi Storey Car Park, providing 444 car parking spaces, is situated on Union Street, immediately to the rear of the property.
Harrogate is one of the principal commercial centres in North Yorkshire, benefiting from a high socio-economic profile and a resident population of approximately 76,800 (ONS), and is also home to the Harrogate Convention Centre, one of the leading conference and exhibition venues in the North of England.
Harrogate benefits from excellent transport connectivity, with Harrogate railway station providing regular services to Leeds and York. The town is located approximately 17 miles north of Leeds, 21 miles west of York and 11 miles west of the A1(M), with Leeds Bradford Airport approximately 9 miles away.
Significant Town Centre Development
Harrogate town centre is undergoing significant change, most notably with the redevelopment of the former Debenhams department store, situated close to the subject properties, which is being brought forward for a mixed retail, leisure and residential scheme.
This regeneration is expected to further increase footfall and enhance the prime retailing pitch along Oxford Street and Parliament Street. The wider strength of Harrogate's retail and leisure offer, combined with ongoing town centre investment, continues to underpin demand from national multiples and independent operators alike for well-located units such as those which form this parade.
Description
30-34a Oxford Street comprise a parade of four adjoining retail/leisure units arranged over ground and first floors (with basement accommodation at 30 Oxford Street), of traditional construction beneath pitched roofs, fronting one of Harrogate's principal town centre trading pitches.
The properties are let to a strong mix of tenants including Geek Retreat, Ryman, Otto Café and Essenza, providing a secure and diversified income stream, with 8 Union Street currently under offer to a new tenant.
Tenancy Information
30 Oxford Street is let to Ghost Huskey Limited t/a Geek Retreat on a lease for a term of 8 years from 19 December 2024, at a current rent of £27,000 per annum. The lease is subject to a rent review and tenant break option on 19 August 2027, with a further tenant break option on 19 August 2029, and is FRI subject to a schedule of condition.
32 Oxford Street is let to Partners The Stationers Limited t/a Ryman on a 10 year lease from 25 December 2015, currently holding over, at a rent of £30,000 per annum on FRI terms.
34 Oxford Street is let to Otto Café Limited on a 10 year lease from 20 February 2026, at a rent of £26,000 per annum, subject to a tenant break option and rent review on 20 February 2030. The lease is FRI by way of service charge, with repair liability limited by a schedule of condition.
34a Oxford Street is let to Vaneli Limited t/a Essenza on a 15 year lease from 27 January 2011, currently holding over, at a rent of £10,000 per annum, FRI by way of service charge with repair liability limited by a schedule of condition. We understand the tenant took an assignment of the lease in 2019.
8 Union Street is currently under offer to Huckerbys of Harrogate on a 5 year lease with a tenant break option at the end of year 3 at a rent of £12,500 per annum plus VAT, subject to a 4 week rent free period. The lease to be effectively full repairing and insuring by way of a service charge, with the landlord insuring the building and recovering the cost from the tenant. A rent deposit equal to 3 months' rent plus VAT to be held for the term. The tenant to be responsible for all other outgoings, including business rates and utility bills.
The total rent for the parade is £105,500 per annum, comprising the current passing rent of £93,000 per annum together with the agreed terms on 8 Union Street at £12,500 per annum.
Freehold with Title Numbers NYK90130 (30-32) and NYK114022 (34 & 8).
VAT
The property is VAT elected and we envisage the sale to be treated as a TOGC.
Energy Performance Certificates
30 Oxford Street: D (90)
32 Oxford Street: TBC
34 Oxford Street: C (63)
34a Oxford Street: E (117)
8 Union Street: C (74)
Proposal
£1,175,000 (One Million One Hundred and Seventy Five Thousand Pounds) reflecting a net initial yield of 8.48%.
Capital Allowances
There are no unclaimed capital allowances available with the property.
Anti-Money Laundering Regulations and Requirements
To comply with our legal responsibilities for Anti-Money Laundering, it is necessary to check all parties involved in this transaction. It is the responsibility of parties on both sides to provide information necessary to complete these checks before the deal is completed. We will therefore require the following information:
Corporate structure and ownership details of purchasers
Identification and verification of ultimate beneficial purchasers
Satisfactory proof of the source of funds for the purchasers
30, 32, 34 & 34a Oxford Street & 8 Union Street, Harrogate, HG1 1PP
Location
The properties occupy a prominent position on Oxford Street, one of Harrogate's principal town centre retailing pitches, close to its junction with Parliament Street and Cambridge Road, and within a short walk of the Victoria Shopping Centre and the Marks & Spencer Foodhall.
Nearby occupiers include Marks & Spencer, Tesco Express, Halifax, McDonald's, Superdrug and Ryman, together with a strong food and beverage offer including Bettys, Five Guys, The Ivy and Wagamama. The Jubilee Multi Storey Car Park, providing 444 car parking spaces, is situated on Union Street, immediately to the rear of the property.
Harrogate is one of the principal commercial centres in North Yorkshire, benefiting from a high socio-economic profile and a resident population of approximately 76,800 (ONS), and is also home to the Harrogate Convention Centre, one of the leading conference and exhibition venues in the North of England.
Harrogate benefits from excellent transport connectivity, with Harrogate railway station providing regular services to Leeds and York. The town is located approximately 17 miles north of Leeds, 21 miles west of York and 11 miles west of the A1(M), with Leeds Bradford Airport approximately 9 miles away.
Significant Town Centre Development
Harrogate town centre is undergoing significant change, most notably with the redevelopment of the former Debenhams department store, situated close to the subject properties, which is being brought forward for a mixed retail, leisure and residential scheme.
This regeneration is expected to further increase footfall and enhance the prime retailing pitch along Oxford Street and Parliament Street. The wider strength of Harrogate's retail and leisure offer, combined with ongoing town centre investment, continues to underpin demand from national multiples and independent operators alike for well-located units such as those which form this parade.
Description
30-34a Oxford Street comprise a parade of four adjoining retail/leisure units arranged over ground and first floors (with basement accommodation at 30 Oxford Street), of traditional construction beneath pitched roofs, fronting one of Harrogate's principal town centre trading pitches.
The properties are let to a strong mix of tenants including Geek Retreat, Ryman, Otto Café and Essenza, providing a secure and diversified income stream, with 8 Union Street currently under offer to a new tenant.
Tenancy Information
30 Oxford Street is let to Ghost Huskey Limited t/a Geek Retreat on a lease for a term of 8 years from 19 December 2024, at a current rent of £27,000 per annum. The lease is subject to a rent review and tenant break option on 19 August 2027, with a further tenant break option on 19 August 2029, and is FRI subject to a schedule of condition.
32 Oxford Street is let to Partners The Stationers Limited t/a Ryman on a 10 year lease from 25 December 2015, currently holding over, at a rent of £30,000 per annum on FRI terms.
34 Oxford Street is let to Otto Café Limited on a 10 year lease from 20 February 2026, at a rent of £26,000 per annum, subject to a tenant break option and rent review on 20 February 2030. The lease is FRI by way of service charge, with repair liability limited by a schedule of condition.
34a Oxford Street is let to Vaneli Limited t/a Essenza on a 15 year lease from 27 January 2011, currently holding over, at a rent of £10,000 per annum, FRI by way of service charge with repair liability limited by a schedule of condition. We understand the tenant took an assignment of the lease in 2019.
8 Union Street is currently under offer to Huckerbys of Harrogate on a 5 year lease with a tenant break option at the end of year 3 at a rent of £12,500 per annum plus VAT, subject to a 4 week rent free period. The lease to be effectively full repairing and insuring by way of a service charge, with the landlord insuring the building and recovering the cost from the tenant. A rent deposit equal to 3 months' rent plus VAT to be held for the term. The tenant to be responsible for all other outgoings, including business rates and utility bills.
The total rent for the parade is £105,500 per annum, comprising the current passing rent of £93,000 per annum together with the agreed terms on 8 Union Street at £12,500 per annum.
Freehold with Title Numbers NYK90130 (30-32) and NYK114022 (34 & 8).
VAT
The property is VAT elected and we envisage the sale to be treated as a TOGC.
Energy Performance Certificates
30 Oxford Street: D (90)
32 Oxford Street: TBC
34 Oxford Street: C (63)
34a Oxford Street: E (117)
8 Union Street: C (74)
Proposal
£1,175,000 (One Million One Hundred and Seventy Five Thousand Pounds) reflecting a net initial yield of 8.48%.
Capital Allowances
There are no unclaimed capital allowances available with the property.
Anti-Money Laundering Regulations and Requirements
To comply with our legal responsibilities for Anti-Money Laundering, it is necessary to check all parties involved in this transaction. It is the responsibility of parties on both sides to provide information necessary to complete these checks before the deal is completed. We will therefore require the following information:
Corporate structure and ownership details of purchasers
Identification and verification of ultimate beneficial purchasers
Satisfactory proof of the source of funds for the purchasers
Additional information
- Service charge
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- Business rates
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- Use class
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- Listed building
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Energy performance certificate: Ask agent
An Energy Performance certificate helps you understand the current energy efficiency of a property.
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Environmental data
- BREEAM rating
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- Environmental description
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Brochure
Oxford Street, Harrogate, North Yorkshire
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