88 HIGH STREET, NORTHALLERTON, NORTH YORKSHIRE, DL7 8PP
Freehold Investment Opportunity
LOCATION First Floor – Trading as “Lion of Asia Indian Restaurant” The property is prominently situated upon Northallerton High Street Restaurant 64.30 sq m (662 sq ft) amongst a range of established businesses. Northallerton is an Kitchen 33.80 sq m (363 sq ft) attractive market town in the Hambleton district of North Yorkshire, Staff WC approximately 16 miles south of Darlington and 30 miles north of Customer WC’s (male & female) York, with well served transport links via the A19 and A1(M) situated approximately 5 miles east and 6 miles west respectively. Northallerton Second Floor also lies on the East Coast main line railway, offering direct connections Store 13.40 sq m (144 sq ft) to Edinburgh & London. Total 111.50 sq m (1200 sq ft)
Northallerton is a popular trading location, incorporating a number of Second Floor Flat highly regarded retail businesses including Betty’s Café & Tea Room and Second floor two bed apartment extending to 47 sq m (507 sq ft) with Lewis & Cooper Food Emporium & Delicatessen, together with a range lounge/kitchen, shower/WC. of national occupiers including Pizza Express, Caffe Nero and Argos. The property lies just 100m south of the newly developed 9,000 sq ft M & S PLANNING Simply Food and café store. Barkers Department store is situated at the The property is Grade II Listed and it lies within Northallerton centre of the high street close by. Conservation Area.
DESCRIPTION TENURE Freehold. The property comprises a traditional three-storey building of brick construction under a pitched and tile covered roof. To the rear there is TENANCY INFORMATION a single storey unit which was added approximately 20 years ago with separate access via the covered archway. The ground floor is occupied Ground Floor - Betfred by Betfred. There is separate access to the side to the first floor which Let to Done Brothers (Cash Betting Ltd) for a term of 20 years from 1 trades as an Indian restaurant with ancillary storage on the second floor. November 1997 on effectively full repairing and insuring terms with There is a separate rear access to the second floor two bedroom flat. The upward only rent reviews 5 yearly. The passing rent is £29,200 per single storey unit is self-contained and benefits from a Class A3 (café) annum exclusive. consent. First Floor Restaurant – Lion of Asia ACCOMMODATION Let to Javid Akhtar & Naseem Akhtar for a term of 15 years from 1 October The accommodation comprises: 2005 on effectively full repairing and insuring terms. The passing rent is £15,600 per annum. There is no provision for review of the rent. Ground Floor – Occupied by Betfred Sales 94.81 sq m (1020 sq ft) Second Floor Flat Store 14.33 sq m (154 sq ft) Currently occupied by way of a standard AST from August 2016 at a Kitchen 2.43 sq m (26 sq ft) rent of £450 per calendar month. Staff WC Customer WC (accessible) Gross Annual Income: £50,200 per annum Gents WC PRICE Ground floor vacant unit 61.59 sq m (662 sq ft) The property is available freehold at an asking price of £525,000.
Shakespeare House 18 Shakespeare Street Newcastle upon Tyne NE1 6AQ tel (0191) 261 0300 fax (0191) 230 3113 e-mail [email protected] www.stantonmortimer.co.uk RATEABLE VALUE & COUNCIL TAX ENERGY PERFORMANCE CERTIFICATES
The Property is entered into the current Rating List as follows: The property has the following EPC ratings. EPC certificates are available on request. 88 High Street, (Betting shop) £25,000 88a High Street, (Restaurant) £13,750 Betfred - 88 High Street – D 80 Lion of Asia – 88a High Street – D 87 The second floor flat is listed as a Band A property. Second floor flat – 88a High Street – E -41 Ground floor vacant unit 88b High Street – C Interested parties should verify these figures with the Local Authority. LOCAL AUTHORITY VAT Hambleton District Council, Civic Centre, Stonecross, Northallerton, North Any reference to price, premium or rent is deemed to be exclusive of VAT (if Yorkshire, DL6 2UU. applicable) thereon. Where rents are quoted as inclusive figures this does not include VAT. Interested parties should clarify the incidence of VAT in any Please note that the adjoining investment property, 87 High Street, is also event with their legal advisers. available for sale. Details on request.
LEGAL COSTS Particulars Prepared: 09/16
Each party to bear its own proper legal costs.
VIEWING
Strictly by appointment with Stanton Mortimer (reference Michael Blake or Paul Fairlamb at the Newcastle office: telephone 0191 2610300) or joint agents, Carvers Commercial.
Not to Scale. For identification purposes only Stanton Mortimer Limited, trading as Stanton Mortimer Property Consultants, registered in England no: 5346678. Registered office 1A Meal Market, Hexham, Northumberland, NE46 1NF STANTON MORTIMER LIMITED (and their joint agents, if appropriate) for themselves and for the Vendor/Lessor of this property for whom they act give notice that: 1.The information contained in these particulars is intended as a general outline only for the guidance of intending purchasers or tenants and neither Stanton Mortimer Limited (nor their joint agents, if appropriate) nor the Vendor/Lessor on whose behalf these particulars are provided, accept any responsibility for any inaccuracies the particulars may contain and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves by inspection or otherwise as to their accuracy. 2.All Floor areas and measurements are approximate. 3.These particulars do not form part of any offer or contract. They contain in some instances, statements of opinion, or we have relied upon information provided by others. The information should be verified by you on inspection or your solicitor. 4.Neither Stanton Mortimer Limited (nor their joint agents, if appropriate), nor any of their employees has any authority, either orally or in writing to make or give or imply any representations or warranty in relation to the property.