DisplayText cannot span more than one line! 5 Pickering Road Thornton-Le-Dale YO18 7LG

£330,000(Freehold)

Attractive, Mixed-Use Investment producing a gross annual rent of approximately £26,000 per annum

5 Pickering Road, Thornton- Le-Dale, North , YO18 7LG

£330,000 (Freehold) 5 Pickering Road, Thornton-Le-Dale, YO18 7LG

• Freehold • Mixed-Use Investment

• Well-Established Commercial Tenant • Currently producing a gross rent of approximately £26,000 per annum

LOCATION The property is located to the north of Pickering Road, close to the centre of Thorton-le-Dale. Thorton-le-Dale is a village and in the District of , approximately 3 miles east of Pickering on the edge of the North Yorkshire Moors National Park. The village will originally have grown as an agrarian settlement, although in more recent years it has become popular with tourists. Scarborough is approximately 15 miles to the east and Thorton-le-Dale benefits from relatively good road access to the other Ryedale towns of; Malton, and . The village centre includes a number of small shops, cafes and public houses.

DESCRIPTION We believe that the property will previously have formed three adjoining terrace houses which have subsequently been converted into two flats (1x three bed and 1x one bed), together with a large commercial unit. Please note that the flats are entirely self-contained, with their own access to the west. They also benefit from their own roof terraces to the rear.

ACCOMMODATION The commercial premises extend to 192m² (2,061 sq ft). Flat 1 (three bed) extends to 89m² (957 sq ft). Flat 2 (one bed) extends to 50m² (540 sq ft). The total floor area of the property is thus 331m² (3,558 sq ft). In addition, both flats benefit from an external roof terrace.

SERVICES AND AMENITIES We understand that mains supplies of water, drainage and electricity are connected to the property and that these have been split between the respective lettable units. The shop benefits from air conditioning, with electric heating to the flats.

TENURE Freehold.

TENANCIES The commercial unit is let to Mukesh Meraman Maher and Himalaya Menalaya Manandbhai Godhania via Lease Assignment. The Lease is guaranteed by Viram Keshwara. The Lease is for 15 years from the 15.06.2011 - 14.06.2026.

We are advised that the rent passing is £14,637.84 per annum, with an upwards only LOCATION PLAN rent review having recently been completed. We understand that the property has traded successfully as a small supermarket for a number of years, catering for Thornton-Le-Dale and other surrounding villages. Flat one is let at £525 pcm (£6,300 per annum) and Flat two is let at £425 pcm. (£5,100 per annum). We are advised that both are let under standard AST terms and the total rent passing is thus £26,037.84 per annum.

PLANNING We believe that the property falls within the jurisdiction of Ryedale District Council. We do not believe that the property is Listed, although it may fall within Thornton-Le- Dale’s Conservation Area. We assume that the convenience store benefits from planning permission for A1 (retail) purposes with the two flats benefiting from planning permission for C3 (dwelling house) purposes. We are not aware of any dispute with the local authority in this regard.

EPC We understand that the commercial premises have an EPC rating of C (60). The residential units are both assessed as falling within Band ‘D’. Full copies of the EPC’s can be provided by the Agent.

RATES The commercial premises have a rateable value of £13,000. In addition, we understand that both flats are assessed for Council Tax purposes as falling within Band A. We believe that all tenants are responsible for the payment of rates under the terms of their tenancy agreements.

PROPOSALS The property is available to purchase for £330,000. This reflects an attractive gross yield of a fraction under 8%.

VIEWINGS/FURTHER INFORMATION Please contact James Reynolds on 07894 697729. Email: [email protected]

Shop Roof Terrace

Flat - Bathroom Flat - Kitchen

CONSUMER PROTECTION FROM UNFAIR TRADING REGULATIONS 2008 Stephensons with Boulton and Cooper for themselves and for the vendors or lessors of this property for whom they act, give notice that: i.) Messrs Stephensons with Boulton and Cooper, their servants or agents, (the firm) accept no responsibility whatsoever for any statement within the meaning of the Consumer Protection From Unfair Stephensons Trading Regulations 2008 which is made as to any feature of any property identified in this brochure, or as to any matter in relation thereto prescribed by any order made under the said Act. Partners Associates Regulated by RICS Stephensons is the trading 01904 625533 JF Stephenson MA (Cantab) FRICS FAAV name for Stephensons Estate Agents LLP ii.) The foregoing disclaimer applies to any such statement, whether of fact or opinion, made herein or otherwise and whether made orally, pictorially or in writing or howsoever by the firm. CS Hill FNAEA Haxby 01904 809900 IE Reynolds BSc (Est Man) FRICS Partnership No: OC404255 ( & Wales) iii.) No inference of any kind should in any circumstances whatsoever be drawn from any such statement, or from any omission from such statement or omission. N Lawrence iv.) Without derogation from the generality of the foregoing disclaimer, the firm neither represents nor warrants the existence, type, size, position, effectiveness or condition of any feature or features of the 01423 867700 REF Stephenson BSc (Est Man) MRICS FAAV Registered Office: 10 Colliergate York YO1 8BP NJC Kay BA (Hons) pg dip MRICS said property which may be mentioned herein. Nothing contained forms part of any offer and no statement made, whether herein or otherwise, by or on behalf of the firm will be incorporated in any 01757 706707 O J Newby MNAEA agreement between the vendors and any purchaser nor should any such statement be relied upon in entering or agreeing to enter into any such agreement or expending any sum in contemplation thereof 01423 324324 J E Reynolds BA (Hons) MRICS 01347 821145 R L Cordingley BSc FRICS FAAV York Auction Centre 01904 489731 J C Drewniak BA (Hons)