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
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.
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
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)
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.
