This small retail investment is well positioned fronting onto Clarence Street neat to York St John University and the District Hospital, very close to Union Street car park and only a few minutes walk from the historic city centre. The premises comprise of the ground floor only  run as a mini market, the upper floor flat having been sold off separately. The current tenant has just agreed to extend his lease for a further 5 years without breaks after his current lease expires in April 2024. This is an ideal investment for a private individual wishing to receive a decent return with a real prospect of rental and capital growth in the future.

ACCOMMODATION

 Sales area       approx 36 sq m ( 387 sq ft)

Store               approx 6.5 sq m ( 70 sq ft)

Staff wc.

RATES

 The premises are shown on the Valuation Office Rating web site as having a RV of £8500. Therefore for most occupiers no rates will be payable making this a very affordable unit to occupy.

LEASE

The property is let on an effective full repairing and insuring lease expiring in April 2024 at £9400pa. A renewal lease has been agreed for a further 5 years until April 2029  without breaks at a rent of £9500pa.

EPC

The property has an EPC rating of C.

PRICE

This attractive investment is available for £124,950 which, after the April 2024 rent increase, equates to a yield of around 7.6% gross.

VAT. 

All prices and rents are deemed to be exclusive of any VAT which may  apply

IMPORTANT          

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.  Buyers will be required to provide details of their identity ( passport / driving license and two utility bills) and proof of funding ( bank statements / mortgage offer ).

NOTE

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.