24-26 Market Place Richmond North Yorkshire DL10 4QG

24-26 Market Place
Richmond
North Yorkshire
DL10 4QG

Freehold Retail Investment with Valuable Recent Residential Planning Consent

Shop let to Edinburgh Woollen Mill Properties Limited
Recently renewed 5 year shop lease from 12/10/2022 (No Breaks) (2)
Vacant Upper Floors with Recent Planning Permission (28/07/22) to convert to two-bed maisonette
Large Rear Extension with Recent Planning Permission (28/07/22) to create 6x 1 bed flats (2)
Edinburgh Woollen Mill trading in the Property for at least 25 years
Nearby occupiers include WHSmith, Boots the Chemist, Co-operative Convenience Store, Costa and Greggs

Lot
5
Auction
15th December 2022
Rent
£40,000 per Annum Exclusive
Plus Vacant Upper Parts
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

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Freehold Retail Investment with Valuable Recent Residential Planning Consent

Shop let to Edinburgh Woollen Mill Properties Limited
Recently renewed 5 year shop lease from 12/10/2022 (No Breaks) (2)
Vacant Upper Floors with Recent Planning Permission (28/07/22) to convert to two-bed maisonette
Large Rear Extension with Recent Planning Permission (28/07/22) to create 6x 1 bed flats (2)
Edinburgh Woollen Mill trading in the Property for at least 25 years
Nearby occupiers include WHSmith, Boots the Chemist, Co-operative Convenience Store, Costa and Greggs

Lot 5
Auction 15th December 2022
Rent £40,000 per Annum Exclusive Plus Vacant Upper Parts
Status Sold Prior
Price
Sector
High Street Retail, Residential, Development
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 28 miles north of Harrogate, 43 miles north of Leeds
Roads: A1(M), A6108, A6136
Rail: Darlington Train Station
Air: Leeds/Bradford Airport

Situation

The property is situated in a prominent position on Market Place in the heart of Richmond town centre. Other occupiers on Market Place include WHSmith, Boots the Chemist, a Co-operative Convenience Store, Costa and Greggs. The property is located opposite Richmond Market Place car park.

Tenure

Freehold.

Location

Miles: 28 miles north of Harrogate, 43 miles north of Leeds
Roads: A1(M), A6108, A6136
Rail: Darlington Train Station
Air: Leeds/Bradford Airport

Situation

Tenure

Freehold.

Description

The property comprises a large shop arranged on the ground floor with vacant first and second floors. To the rear, benefits from a rear extension and a large yard.

VAT

VAT is applicable to this lot.

Planning

Planning Permission granted on 28/07/2022 to create 1x 2 bed maisonette on the first and second floors and for the demolition of the two storey rear extension to create 6x 1 bed flats (Decision No: 21/00999/LBC & 21/00998/FULL). All enquiries should be made with Richmondshire District Council. (www.richmondshire.gov.uk) (Phone: 01748 829100)

Completion Period

Six Week Completion

EPC

Band B

Description

The property comprises a large shop arranged on the ground floor with vacant first and second floors. To the rear, benefits from a rear extension and a large yard.

VAT

VAT is applicable to this lot.

Planning

Completion Period

Six Week Completion

EPC

Band B

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.
Ground Rear	Retail Extension	312.62 144.29	(3,365) (1,553)	EDINBURGH WOOLLEN MILL PROPERTIES LIMITED (t/a Edinburgh Woollen Mill/Ponden Home) (1)	5 years from 12/10/2022 on a full repairing and insuring lease (2)	£40,000 (3)
First/Second		134.50	(1,448)	VACANT (with Planning Permission)	-	(-)
Total		591.41	(6,366)			£40,000

(1) Edinburgh Woollen Mill trade from over 380 stores across the UK (www.ewm.co.uk)
(2) The ground floor is let by way of two co-terminus leases, each for terms of 5 years from 12/10/2022. The first lease is for the retail unit at a rent of £40,000 pax. The second lease is for the remainder of the ground floor to include the rear extension, at a peppercorn rent. The second lease is excluded from the Landlord and Tenant Act 1954 and is subject to a landlord's break option to determine the lease to enable a landlord to carry out the development as detailed in the Planning Permission.
(3) A rent deposit equivalent to 12 months rent is held by the landlord for the duration of the term

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.