Attractive mixed retail and residential investment producing £40,600 pa gross.
Ref: C 842
Our clients currently own and run a successful business from these premises on Boroughbridge Road, York, but are prepared to enter into a sale and leaseback of the commercial aspect of the premises, which also include two very smart and spacious self contained apartments above. The details regarding the business and premises ( Kutters and Shannons Bike and garden equipment sales and repair ) are attached in the particulars to download ( which relate to the property and business ) but the Investment proposition would be as follows:
Retail and workshop premises – a lease can be drawn up for a term to be agreed at a rent of £25,000 pa
The two apartments are each let on AST’s at £650 pcm producing £15,600 pa gross. ( Each apartment is thought to have a value of around £140,000 vacant)
Total gross income therefore will be £40,600
This substantial block of property can be purchased for around £625,000 equating to a gross yield of around 6.5% before costs.
To discuss this further please contact John Hornsby on 01904 794812.
By arrangement with The Agents on 01904 794812.
Where staff are employed in a business, it is possible that they are unaware of any impending sale, therefore it is essential that all viewings are arranged through us and no direct approaches should be made under any circumstances.
All prices and rents are deemed to be exclusive of any VAT which may apply.
Details and general information provided within these particulars have been confirmed by The Client, are given in good faith and are believed to be correct, however all proposed purchasers/tenants must satisfy themselves as to the correctness of the information provided. We understand that all services and items of equipment are in functional order, but no warranties can be given in this respect. Neither the agents nor any person in their employ bind themselves in any way, nor are any warranties given as to the correctness of the information provided. No part of these particulars form part of any contract or agreement for sale or lease