Property Information
Address:
The Fisherman's Wife, 1 Ebor Street, York, North Yorkshire
, YO23 1AX
, North Yorkshire
, United Kingdom
Price: Property no longer available.
Size: SOA
Primary Category: Investment
All Categories:
Investment, Shop,
Property Ref/Movehut: MH606391
Property Ref/Agent: The Fisherman's Wife, 1 Ebor Street, York, YO23 1AX
*Please use the agent ref when calling the agent directly.
Property description
LOCATION
The property is located in a very popular prominent position within the Bishopthorpe Road high street. Bishopthorpe Road contains a number of national and regional
occupiers, as well as some very popular and local businesses. It won the highly regarded “Britain’s Best High Street” award in 2015 and the locality is seen as being one of
the most popular and high value areas in northern England. Travel Supermarket recently ranked the Bishopthorpe Road area as the 12th ‘Hippest Hang Out’ in the UK.
The property is located at the junction of Ebor Street, which extends to the north.
DESCRIPTION
The original section of the property is of solid brick construction, beneath a pitched and hipped, tile covered roof. In more recent years a single storey flat roofed extension
has been added to the rear (Ebor Street elevation). The first floor forms a residential unit. Please note that this has been sold off on a long leasehold (i.e. effective freehold)
basis and does not form part of the sale. Internally, the interior and shop frontage have recently been refurbished to a very high standard by the vendor. The internal
accommodation includes a restaurant/bar, preparation area, takeaway, servery and toilets.
ACCOMMODATION
The property extends to a gross internal area (gia) of approximately 94 m² (1,011 sq ft).
PLANNING
Planning permission for a change of use to a restaurant/takeaway (A3/A5 use), the addition of a new shop front and rear extension (with roof terrace above) was granted
under reference 06/00577/FUL on 11/05/2006.
SERVICES
We understand that mains supplies of water/drainage, gas and electricity are connected to the subject property and they have either been split or are in the process of
being split from the flat above.
BUSINESS RATES
The property has a rateable value of £13,750. Please note that the cost of this will be met by the tenant.
ENERGY PERFORMANCE CERTIFICATE
The property has an EPC rating of E (107). A copy of the certificate is available to inspect at the agent’s offices.
TENURE
The property is available on a freehold basis. Rights of way exist over a driveway to the east, connecting with Ebor Street (to the north). Please note that the flat above has
been sold off on a long leasehold (i.e. effective freehold basis) and does not form part of the property. The owner of the flat reserves the right for access over the rear of
the subject property, but they are also liable for a service charge in respect of a fair proportion of the costs of maintenance and upkeep of the wider building (to include
a contribution towards the annual buildings insurance premium).
PROPOSED LEASE TERMS
The property is to be leased to the trading business on effective full repairing and insuring terms for 15 years from the date of sale at £16,000pa. The lease will be subject
to 5 yearly upwards only rent reviews. There will be a tenant only break option after 10 years. The tenants will be responsible for the payment of none domestic rates
and utilities relating to their occupation. Trading related information will be made available to seriously interested parties.
PRICE
The sale price and leaseback opportunity is available for £320,000. This reflects an attractive net initial yield of 4.83%.
VIEWINGS/ FURTHER INFORMATION
Please contact James Reynolds on 07894697729/ James@stephensons4property.co.uk
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