LOCATION

The Tonks Building is situated on Gladstone Lane facing up Raleigh Street approximately 0.5
mile west of Scarborough town centre. It is within a built up, primarily residential area but
with a number of commercial uses in the vicinity.
Scarborough is an east coast holiday resort situated approximately 36 miles east of York and
40 miles to the north of Hull, with a total catchment population of approx 82,000 people .
As well as being a renowned seaside resort, the town has previously achieved an international
commercial reputation having been voted Europes most enterprising town. It hosts a number
of well known businesses with major employers including Anglo American, McCain Frozen
Foods, Associated Cold Stores and Plaxton Coachworks. There is substantial growth expected
in line with the arrival of major mining and wind farm businesses.

DESCRIPTION

The subject property comprises a part single, part 2-storey building of traditional brick
construction with interesting retained architectural features. The building is currently laid out
in a series of sections and rooms. At ground floor level there are self-storage units set around
an internal courtyard with shared WC and kitchenette, workshops and stores and a showroom.
At first floor level there are well specified glazed offices with fitted kitchen and canteen and
WCs, there are further self-storage units.

FLOOR AREA (Gross Internal approx)
Ground floor - 545.6 sq m (5,873 sq ft)
First Floor - 437.8 sq m (4,712 sq ft)
TOTAL - 983.4 sq m (10,585 sq ft)

SERVICES

The property is connected for mains electricity (including 3-phase), gas, water and drainage.
The offices are heated by a gas fired central heating boiler (the cost is included in the service
charge). Other than the self-storage most units are separately metered for electricity.
There is CCTV that records to a DVR.

OCCUPIERS USES

The tenants come from a range of business sectors such as theatre, antiques, building and IT.

TENANCIES

The property currently generates an approximate net rental income of £60,983 per annum
Excluding VAT. Please note that this is subject to change and confirmation.
A tenancy schedule can be provided to interested parties.

RATES

Most tenants are responsible for their own business rates.

METHOD OF SALE

The vendors preferred form of sale would be by TOGC. The property is owned in an SPV
Minster Properties Space to Work Ltd

PRICING

£695,000 This provides the buyer with a yield of just over 8% net of purchasers costs.

VAT

All references to price, premium or rent are deemed to be exclusive of VAT unless expressly
stated otherwise. Any offer received by the agents will be deemed to be exclusive of VAT.

LEGAL COSTS

Each party will be responsible for their own legal costs incurred in connection with this
transaction.