162 - 164 High Street
Northallerton
North Yorkshire
DL7 8LY

Freehold Bank and Retail Investment

  • High yielding on guide price
  • Comprises a bank and two shops
  • Majority let to TSB Bank Plc
  • Adjacent to Wilko and close to Tesco Superstore
  • Other nearby occupiers include Costa Coffee, Caffè Nero, Lakeland, Pizza Express, Waterstones and branches of HSBC, Barclays, Halifax and Santander banks
  • Prosperous North Yorkshire market town
  • Lot
    24
  • Auction
    14/Feb/2019
  • Rent
    £96,000 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Auction & Property Update
  • 162 - 164 High Street<br>Northallerton<br>North Yorkshire<br>DL7 8LY
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
24 miles north of Harrogate
31 miles north-west of York
Roads
A19, A167, A168, A1 (M)
Rail
Northallerton Railway Station
Air
Leeds Bradford International Airport
Situation

Northallerton is a prosperous market town in the Vale of Mowbray and serves as the county town of North Yorkshire. The property is situated on the western side of High Street, Northallerton’s principal retailing thoroughfare, next to Wilko, adjacent to Lakeland, Mountain Warehouse and M&Co and Argos. Other occupiers nearby include Tesco, Costa Coffee, Caffè Nero, Waterstones, Pizza Express and branches of HSBC, Barclays, Halifax and Santander banks.

Tenure

Freehold.

Description

The property comprises a bank and two shops arranged on the ground and first floors. To the rear of the property is a yard with parking for approximately 12 cars.

VAT

VAT is applicable to this lot.

Note

VAT is not applicable to 164 High Street. VAT is applicable to 162 and 163 High Street.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

 Floor
Floor Areas (Approx)
TenantTermRent p.a.x
164Ground
First
201.78 sq m
51.65 sq m
(2,172 sq ft)
(556 sq ft)
TSB BANK PLC (1)10 years from 27/09/2010
until 26/09/2020
£67,000
163Ground
27.87 sq m
(300 sq ft)
INDIVIDUAL
t/a Sonny Playforth
Hairdressing
10 years from 15/10/2014
until 14/10/2024 and rent
review on 15/10/2019 (2)
£12,000
162Ground
First
53.41 sq m
61.04 sq m
(575 sq ft)
(657 sq ft)
VAPE WITH US
NORTHALLERTON
LTD t/a Vape With Us
(3)
5 years from 01/09/2018 until
31/08/2023 (4)
£17,000 (5) rising to
£18,000 in
September 2020
Total
395.75 sq m
(4,260 sq ft)
 £96,000

(1) For the year ending 31st December 2017, TSB Bank Plc reported pre-tax profits of £159,100,000 and a total net worth of
£1,996,500,000 (Source: Experian Group 11/01/2019).
(2) The lease is subject to a tenant option to determine the lease within 42 days of a reviewed rent being agreed by giving written notice to the landlord; the lease will then be determined 14 days after.
(3) A two month rent deposit is held by the Vendor.
(4) The lease is subject to a tenant option to determine on 31st August 2020.
(5) The tenant is paying half rent until 1st September 2019. The Vendor will make an allowance on completion of the sale so that the rent will effectively be £17,000 per annum.

Property Documents

  • Catalogue Page
    Updated Date
    22.01.19
    File Size
    631 KB
    View PDF
  • Site Plan
    Updated Date
    22.01.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.01.19
    File Size
    143 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
Bude Nathan Iwanier 1 - 2 Temple Fortune Parade, Bridge Lane
London
NW11 0QN
Daniel Homburger 020 8209 2466dh@bnilaw.co.uk

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now