118 High Street Northallerton North Yorkshire DL7 8PQ

118 High Street
Northallerton
North Yorkshire
DL7 8PQ

Prominent Freehold Retail Investment

Entirely let to Coral Racing Limited
VAT-free investment in affluent North Yorkshire market town
10 year lease from June 2016 (subject to option)
100 metres from newly constructed Lidl and Iceland supermarkets due to complete late 2020
Prominent corner position with nearby occupiers including WHSmith, Edinburgh Woollen Mill, Pandora, Waterstones, Greggs, Boots the Chemist, Betty's Tea Shop and various banks

Lot
22
Auction
12th February 2020
Rent
£71,500 per Annum Exclusive
Status
Withdrawn Prior
Price
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
Marble Arch
London W1H 7TN

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Prominent Freehold Retail Investment

Entirely let to Coral Racing Limited
VAT-free investment in affluent North Yorkshire market town
10 year lease from June 2016 (subject to option)
100 metres from newly constructed Lidl and Iceland supermarkets due to complete late 2020
Prominent corner position with nearby occupiers including WHSmith, Edinburgh Woollen Mill, Pandora, Waterstones, Greggs, Boots the Chemist, Betty's Tea Shop and various banks

Lot 22
Auction 12th February 2020
Rent £71,500 per Annum Exclusive
Status Withdrawn Prior
Price
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
Marble Arch
London W1H 7TN

Property Information

Location

Miles: 28 miles north of Harrogate; 31 miles north-west of York
Roads: A19, A1(M)
Rail: Northallerton
Air: Leeds Bradford Airport

Situation

Northallerton is a market town and civil parish in North Yorkshire, 28 miles north of Harrogate. The property is located on the east side of High Street, the town's principal retailing thoroughfare, in a prominent corner position at its junction with Zetland Street. The property is approximately 100 metres from the former site of Northallerton Prison, which is currently being redeveloped to form a 21,000 sq ft Lidl and a 6,000 sq ft Iceland. This newly constructed development is due to be completed by late 2020. Other nearby occupiers include WHSmith, Edinburgh Woollen Mill, Pandora, Waterstones, Greggs, Boots the Chemist, Betty's Tea Shop and various banks.

Tenure

Freehold.

Location

Miles: 28 miles north of Harrogate; 31 miles north-west of York
Roads: A19, A1(M)
Rail: Northallerton
Air: Leeds Bradford Airport

Situation

Tenure

Freehold.

Description

The property comprises a three storey building, arranged as a ground floor betting office with ancillary accommodation on the first and attic floors. The property benefits from a return frontage to Zetland Street.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground First Attic	Retail/Ancillary Ancillary Ancillary	102.00 sq m 41.99 sq m 13.19 sq m	(1,098 sq ft) (452 sq ft) (142 sq ft)	CORAL RACING LIMITED (1)	10 years from 24/06/2016 until 23/06/2026 on a full repairing and insuring lease (2)	£71,500	23/06/2021
Total		157.18 sq m	(1,692 sq ft)			£71,500

(1) For the year ending 31st December 2017, Coral Racing Limited reported a turnover of £598,371,000, pre-tax profits of £7,642,000 and a total net worth of £75,914,000 (source: Experian Group 07/01/2020). Coral operates from over 1,800 betting shops throughout the UK (Source: www.theguardian.com 07/01/2020).
(2) Please note the lease is subject to a tenant only option to determine on 23/06/2021.

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.