24 Parliament Street
York
North Yorkshire
YO1 8RS

Prime Freehold Retail Investment

  • Excellent trading location on one of York's principal retailing thoroughfares
  • Nearby occupiers include Marks & Spencer, Browns of York Department Store, GAP, TM Lewin, The Disney Store, Molton Brown and Pizza Express
  • New 10 year lease from September 2017 (subject to option)
  • Rare opportunity to purchase in historic and attractive cathedral city
  • Lot
    22
  • Auction
    14/Feb/2018
  • Rent
    £35,000 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • 24 Parliament Street<br>York<br>North Yorkshire<br>YO1 8RS
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Property Information

Location
Miles
24 miles north-east of Leeds, 55 miles north-east of Manchester
Roads
A19, A59, A64, A1237, A1(M)
Rail
York Railway Station
Air
Leeds Bradford International Airport
Situation

York is an attractive and affluent historic city that is popular with tourists and home to the prestigious York University. The property is located on the northern side of Parliament Street, one of the town's prime retailing thoroughfares, close to its junction with St Sampson’s Square and Davygate and opposite Feasgate. TSB Bank and Boots Opticians adjoin the property, with other nearby retailers including Marks & Spencer, Pret a Manger, GAP, Molton Brown, Pizza Express, The Disney Store and TM.Lewin, with Browns of York Department Store also nearby.

Tenure

Freehold.

Description

The property comprises a ground floor shop with ancillary accommodation on the basement, first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

Bidder's Legal Report

For the ease and convenience of prospective buyers,to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is advisable. For more information, please click here.

Tenancy & Accomodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview
Ground
Basement
First
Second
Retail
Ancillary
Ancillary
Ancillary
35.95 sq m
34.50 sq m
23.00 sq m
23.60 sq m
(387 sq ft)
(371 sq ft)
(248 sq ft)
(254 sq ft)
ADEEN IT
SOLUTIONS
LIMITED (1)
t/a Phone Tech
10 years from
15/09/2017 until
14/09/2027 (2) on
a full repairing
and insuring lease
(3)
£35,000 (4)15/09/2022
Total
117.05 sq m
(1,260 sq ft)
  £35,000 (4) 

(1) Established in 2014, Adeen IT Solutions Limited provide retail and repair of mobile phones, mobile phone accessories, laptops, PCs and other communication products. The tenant trades from other shops in Macclesfield and Lincoln.
(2) The lease is subject to a tenant option to determine on 15th September 2022.
(3) The lease is full repairing and insuring subject to a photographic schedule of condition.
(4) The tenant is paying £8,750 until September 2018 when the rent increases to £35,000 per annum. The Vendor has agreed to adjust the completion monies so that the property effectively produces £35,000 p.a.x. from completion of the sale until the end of the quarter rent period.

Property Documents

  • Catalogue Page
    Updated Date
    23.01.18
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    23.01.18
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George WatkinsGeorge Watkins +44 (0)20 7034 4861george.watkins@acuitus.co.uk
Seller's Solicitors
Lawrence Stephens Solicitors 50 Farringdon Road
London
EC1M 3HE
Craig Mullen 0207 936 8888cmullen@lawstep.co.uk

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