Mixed-use investment opportunity in the heart of Knaresborough , Ground floor retail unit subject to a 5 year lease from 2024 , Self-contained two/three-bedroom maisonette with vacant possession , Extending to 168.01 sq m (1,808 sq ft)
An excellent opportunity to acquire a mixed-use investment property situated in the heart of Knaresborough town centre. The property comprises a ground floor retail unit together with a self-contained two/three-bedroom maisonette above which is offered with vacant possession, presenting an excellent opportunity for refurbishment.
Description - The property comprises a mixed-use building arranged over four floors, providing a ground floor retail unit together with a self-contained maisonette to the upper floors.
The retail accommodation provides an open-plan sales area with a traditional display frontage onto Castlegate, together with a rear store, kitchen and WC facilities. The upper floors comprise a spacious maisonette providing a living room, kitchen, two double bedrooms, bathroom and an additional loft room.
Externally, the property benefits from a rear courtyard and ancillary storage accommodation.
Ground Floor Retail NIA: 48.93 sq.m (527 sq.ft) Residential Accommodation GIA (First, Second & Loft): 110.93 sq m (1,194 sq ft)
Location - The property occupies a prominent position on Castlegate, one of Knaresborough's principal retailing streets, within the heart of the town centre. Castlegate links directly with the Market Place and enjoys high levels of pedestrian activity throughout the day.
Nearby occupiers include Hutton's Family Butchers, Marcella Chocolates, Kelly Teggin Jewellery, The Little Bird Artisan Market and a variety of independent cafés, retailers and professional businesses. The property is also within easy walking distance of Knaresborough Market Place, the Castle Grounds and the town's railway station.
Services - Mains electricity, gas, water and drainage are understood to be connected. Interested parties should satisfy themselves as to the availability and condition of all services.
Tenure - The property is understood to be held freehold.
Tenancies - The ground floor retail premises are let by way of a five-year lease from 23 February 2024 at a current passing rent of £10,200 per annum, incorporating a rent review in February 2027.
The self-contained residential accommodation is offered with vacant possession, presenting an excellent opportunity to refurbish and subsequently re-let or occupy.
Local Authority - North Yorkshire Council.
Rating Assessment - 11 Castlegate: £11,750 (RV) 11a Castlegate: Council Tax Band B
Energy Performance Certificate - Commercial: C 68 Residential: E 50
Viewings - Strictly by prior appointment with the sole selling agents - Stephensons Estate Agents (Commercial).
Costs - Each party is to be responsible for their own legal costs incurred in connection with the transaction
Value Added Tax - Unless otherwise stated, all prices and rents quoted are exclusive of VAT.
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