Property Information
Address:
8 Brook Street, Selby, North Yorkshire
, YO8 4AR
, North Yorkshire
, United Kingdom
Price: Property no longer available.
Size: 1839 sq ft171 sqm
Primary Category: Investment
All Categories:
Investment, Shop, Cafe,
Property Ref/Movehut: MH619078
Property Ref/Agent: 8 Brook Street,Selby,North Yorkshire,YO8 4AR
*Please use the agent ref when calling the agent directly.
Property description
LOCATION
The property is located on Brook Street, close to Selby Town Centre. The street has seen a good deal of property related activity in recent times, with the completion of a residential development to the north east and a number of modern retailers moving in (such as Black Dog Barbers shop, Hipster, Matt Black, Michael Stewart and Selby Hands of Hope). The site opposite is also being re-developed as private housing.
DESCRIPTION
The property forms a two storey brick structure, surmounted by a pitched, clay tiled covered roof to the front and a modern, fibre glass covered roof to the rear. To the ground floor is a modern shop front with signage fascia above. A doorway to the side provides access to a café and upper floor residential unit. A rear door provides access to a further residential unit, which effectively forms a ‘duplex’.
ACCOMMODATION
The commercial premises extend to 99m² (1,060 sq ft) over two floors. The front (1 bed) that extends to 37m² (398 sq ft). A balcony is also provided. The rear (1 bed) flat extends to 35m² (381 sq ft) over two floors and an external yard/seating area is also included.
SERVICES AND AMENITIES
Each unit is metered for electricity (with the respective tenants meeting the cost of this). We are advised that water supplies have not been split and that the Landlord is responsible for the cost of this (further details can be provided upon request).
TENURE
Freehold.
TENANCIES
The commercial unit is let to Tim Baldwin at £675pcm under a 6 year lease from 05.12.2018 to 04.12.2024. This is subject to an upwards only rent review on 05.12.2022 and a tenant break option on 05.06.2021 (a copy of the lease can be provided). The residential units are let to two long established tenants at £390pcm (£4,680pa) and £410pcm (£4,920pa), respectively. The total rent roll is thus £17,700pa.
PLANNING
The most recent planning permission related to a change of use of part of the first floor from residential to café (under 2015:0673/COU). This has taken place.
EPC
The EPC ratings are as follows:-
Commercial – C (73)
Front Flat – E (41)
Rear Flat – E (46)
Copies can be provided to interested parties.
RATES
All units are separately assessed for rating purposes, with all tenants meeting the cost.
PROPOSALS
The property is available to purchase for £194,950. This reflects an attractive gross yield of approximately 9%.
VIEWINGS/FURTHER INFORMATION
Please contact James Reynolds on 07894 697729.
Email: james@stephensons4property.co.uk
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