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Harrogate – Prime Convenience Retail Investment in an Affluent Town

Nidderdale House, 4-16 Cambridge Road & 7 Oxford Street, Harrogate, HG1 1NS

Property Type:
Commercial
Sub Type:
Retail
Tenure:
Freehold

Income

£430,350 pa

Description

  • Harrogate is an attractive Victorian spa town and one of the most affluent catchment populations in the UK.
  • Attractive building located on a prominent corner plot at the intersection between the pedestrianised Oxford Street and Cambridge Road.
  • The property comprises an attractive 3 storey building comprising six retail and leisure units totalling 2,389 sq m (25,712 sq ft).
  • Fully let to six tenants offering an attractive income profile to 5A1 covenants including McDonalds, Tesco and Superdrug.
  • Current passing rent of £430,350 per annum.
  • Rebased Zone A rents ranging from £50 – £70 Zone A.
  • AWULT of 6.55 years to expiry (6.32 years to break).
  • Freehold.
  • Offers sought in excess of £6,000,000 for the freehold interest, subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 6.73% after deductions of purchaser’s costs at 6.63%.