£450,000
Property
Queen Margarets Road, Scarborough, YO11
First listed on: 16th May 2023
Nearest stations:
- Scarborough (1.2 mi)
- Seamer (1.7 mi)
- Filey (6.1 mi)
- Hunmanby (7.4 mi)
Interested?
Call: See phone number 01723 363565
Property Description
FOR SALE - A Freehold Investment with new lease signed in March 2023.
This warehouse has a gross floor area of approximately 8,491 sq ft (788 sqm) including a mezzanine with individual offices and stands within its own grounds with a yard to the rear. The unit has just undergone a scheme of refurbishment in readiness for the new tenant who has agreed to a new 5 year Landlord & Tenant Act lease with a passing rent of ?35,000 per annum. This would make it a great investment and offers an initial yield of 7.3% based on the guide price of ?475,000
Full Description
The building sits on a site of 0.501 acres (0.203 hectares)It has a gross floor area of approximately 8,491 sq ft (788 sqm) including a mezzanine with individual offices and stands within its own grounds with a yard to the rear. The unit has just undergone a scheme of refurbishment in readiness for the new tenant who has agreed to a new 5 year Landlord & Tenant Act lease with a passing rent of ?35,000 per annum. This would make it a great investment and offers an initial yield of 7% based on the guide price of ?475,000. The property comprises a trade counter and warehouse accommodation incorporating a mezzanine with individual offices. Externally, the property benefits from car parking to the front elevation and a large concrete surfaced yard area to the rear.
Location
The property is situated to the south of Scarborough and is accessed from Queen Margaret's Road, just off the A64. The A64 is the main arterial road which links Leeds, York and Scarborough and also the national motorway network beyond.
Terms
Freehold sale and subject to the Landlord & Tenant Act lease.
Viewing
Strictly via sole agents Colin Ellis Property Services on 01723 363565.
Rates
We believe the Business Rateable Value for the year ending 2022 / 2023 is ?26,750 per annum.
Legal Costs
Each party to bear there own legal costs in dealing with this transaction.
Other
We view all our commercial listings please visit www.colinellis.co.uk
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Price History
Listed prices are those submitted to us and may not reflect the actual selling price of this property.
| Date | History Details |
|---|---|
| 19/05/2024 | Property listed at £450,000 |
| 25/06/2023 | Property listed at £475,000 |
| 18/05/2023 | Property listed at £500,000 |
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