9-10 High Ousegate York North Yorkshire YO1 8RZ

9-10 High Ousegate
York
North Yorkshire
YO1 8RZ

Freehold City Centre Retail Investment

Pedestrianised City Centre Location
Close to Coppergate Shopping Centre & Multi Storey Car Park
Let to Lakeland Limited, in occupation for over 18 years
Nearby Occupiers include Ryman, Nando`s, Levi`s, Fat Face, Santander, Specsavers, Tesco, Barclays, Boots & Lloyds
Future Development Potential of Upper Floors

Lot
17
Auction
4th November 2021
Rent
£105,000 per Annum Exclusive
Status
Sold
Price
£1,420,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction
On Instructions of a Fund Manager

Important Update

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Freehold City Centre Retail Investment

Pedestrianised City Centre Location
Close to Coppergate Shopping Centre & Multi Storey Car Park
Let to Lakeland Limited, in occupation for over 18 years
Nearby Occupiers include Ryman, Nando`s, Levi`s, Fat Face, Santander, Specsavers, Tesco, Barclays, Boots & Lloyds
Future Development Potential of Upper Floors

Lot 17
Auction 4th November 2021
Rent £105,000 per Annum Exclusive
Status Sold
Price £1,420,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction
On Instructions of a Fund Manager

Property Information

Location

Miles: 24 miles north-east of Leeds; 57 miles north-east of Sheffield
Roads: A1 (M), A19, A59, A64
Rail: York Station (Kings Cross - 1 hr 50 mins)
Air: Leeds Bradford Airport

Situation

York is an historic cathedral city with a population of about 200,000 and two established universities. The city serves as a popular tourist destination, with attractions such as York Minster, The National Railway Museum and the Jorvik Museum attracting many thousands of visitors every year. The property is prominently located in a conservation area on the north side of High Ousegate, a short walk from the River Ouse in the heart of the City Centre, and benefits from being less than 100 metres from the Coppergate Shopping Centre and multi storey car park. Occupiers in the Coppergate Shopping Centre include Body Shop, The Works, Caffe Nero & Primark. Occupiers nearby include Nando`s, Levi`s, Fat Face, Santander, SpecSavers, Tesco, Barclays, Boots, Ann Summers, Ryman & Lloyds Bank

Tenure

Freehold.

Location

Miles: 24 miles north-east of Leeds; 57 miles north-east of Sheffield
Roads: A1 (M), A19, A59, A64
Rail: York Station (Kings Cross - 1 hr 50 mins)
Air: Leeds Bradford Airport

Situation

Tenure

Freehold.

Description

The Grade II Listed property comprises a ground floor shop with first floor sales and ancillary accommodation at second floor.

VAT

VAT is applicable to this lot.

Planning

The upper floors may benefit from future redevelopment for a variety of uses, subject to necessary consents/permissions and the current tenancy. Interested Parties are referred to www.york.gov.uk

Completion Period

6 Week Completion

EPC

See legal pack at www.acuitus.co.uk

Description

The Grade II Listed property comprises a ground floor shop with first floor sales and ancillary accommodation at second floor.

VAT

VAT is applicable to this lot.

Planning

The upper floors may benefit from future redevelopment for a variety of uses, subject to necessary consents/permissions and the current tenancy. Interested Parties are referred to www.york.gov.uk

Completion Period

6 Week Completion

EPC

See legal pack at www.acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground First Second	Retail Retail Ancillary	277 sq m 258 sq m 262 sq m	(2,982 sq ft) (2,773 sq ft) (2,825 sq ft)	LAKELAND LIMITED t/a Lakeland (1)	5 years from 29/09/2020 on a Full Repairing & Insuring Lease (2)	£105,000	29/09/2023
Total		797 sq m	(8,580 sq ft)			£105,000

(1) For the year ended 31/12/2020 Lakeland Limited reported a Turnover £151,004,000, Pre-tax profit £332,000 and Shareholders Funds £55,632,000 (Source: Northrow 13/10/2021) Founded in the early 60s, we're still a family-owned business with the same strong values of quality and customer care now as when we first started. From selling plastic bags for home freezing from the Rayner family garage in Windermere, to over 4000 kitchen and home products today, Lakeland has grown to the extent that we now send out thousands of parcels a day from our Kendal despatch centre, and we have stores nationwide, stretching from Aberdeen to Truro, with more in the pipeline. (Source: www.lakeland.co.uk)
(2) Tenant option to determine on 29th September 2023.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.