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
    04/Nov/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
  • 9-10 High Ousegate, York, North Yorkshire, YO1 8RZ
  • Expand
  • Photos
  • Map

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

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.

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

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview
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)
£105,00029/09/2023
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 £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Catalogue Page
    Updated Date
    15.10.21
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    15.10.21
    File Size
    918 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860 +44 (0)7513 610 710george.goucher@acuitus.co.uk
Associate Auctioneers
Cluttons Investment Management (UK) LLP Portman House, 2 Portman Street
London
W1H 6DU
Jamie McCombe. 020 7647 7234jamie.mccombe@cluttonsim.com
Seller's Solicitors
Hugh James Solicitors Two Central Square,
Cardiff,
CF10 1FS
Caroline Melville 029 2267 5452caroline.melville@hughjames.com

Useful Links

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