Excellent City Centre A3 / Retail Investment Opportunity

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Kory Logan
5 years ago
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1 Excellent City Centre A3 / Retail Investment Opportunity On the instructions of the Joint LPA Receivers 2-4, 6-8 & 14 George Hudson Street & 19 Tanner Row, YORK, YO1 6LP

Investment Considerations Four well located restaurant / retail units Part of a prominent Grade II Listed Building within York s historic City Walls Current income (actual &

2 Investment Considerations Four well located restaurant / retail units Part of a prominent Grade II Listed Building within York s historic City Walls Current income (actual & anticipated) 153,680 pa, rising to 163,680 pa in 2019 Price 1.8M Attractive net initial yield 8.07%, rising to 8.6% Upper floors to be refurbished as high quality student accommodation (Summer 2016)

Location These four restaurant / retail units are well located with convenient access to the central shopping area, railway station and visitor attractions including the National Railway Museum and

3 Location These four restaurant / retail units are well located with convenient access to the central shopping area, railway station and visitor attractions including the National Railway Museum and York Minster. The Tanner Row multi- storey car park is directly opposite, and buses serving Park & Ride sites, the City centre & beyond are available close by in Rougier Street. This is a busy commercial/residential area within the heart of York City centre with a number of major employers nearby including Aviva, English Heritage, Northern Rail, Network Rail and The City of York Council. In particular, there is a well-established and thriving leisure focus with a wide selection of popular pubs, bars and restaurants serving both a lunch- time and evening clientele, popular with both residents and visitors alike. Hotels nearby include the Queens Hotel, Lady Anne Middleton s, Hampton by Hilton, Park Inn by Radisson, Travelodge and The Grand Hotel & Spa. Note: Plan not to scale; for identification only. Boroughbridge A19 A61 A1(M) A59 Harrogate A166 A1(M) York A1079 A614 A65 A61 LEEDS A19 A1034 M1 Selby A63 Halifax Wakefield Goole

Description This is a prominent Grade II Listed Building and these excellent restaurant / retail units will further benefit from the development of the upper floors as student accommodation.

of the accommodation. Student Accommodation : Upper Floors The upper floors are to be refurbished as high quality student accommodation, comprising c.

4 Description This is a prominent Grade II Listed Building and these excellent restaurant / retail units will further benefit from the development of the upper floors as student accommodation. Floor Plans Floor plans (pdf & CAD) will be available upon request; these plans will be provided for guidance purposes only, and interested parties must rely on their own inspection and measurement of the accommodation. Student Accommodation : Upper Floors The upper floors are to be refurbished as high quality student accommodation, comprising c.60 studios; associated facilities will include a ground floor shop, cycle store, manager s office, communal lounge, gym and laundry; the scheme is due to be ready for occupation by Summer Tenure A new long leasehold interest will be granted for a term of 250 years at a fixed peppercorn ground rent including appropriate service charge.

5 Occupational Leases Copies of the occupational leases will be available upon request. Price 1.8 Million. Based on the actual and anticipated rental income, a purchase at this level would reflect a net initial yield of 8.07% rising to 8.6% in July 2019, after allowing for acquisition costs of 5.8%. VAT & Legal Costs We are informed by our clients that the premises are registered for VAT. Interested parties should consult their accountants in this regard. Each party will be liable for their own legal costs in the transaction. Energy Performance Certificates (EPC s) & Asbestos Reports As a Grade II Listed Building, it is understood that EPC s are not required. Asbestos reports will be available upon request. Further Information Further information is available by contacting the joint agents: Lucy McDowell Chris Jenkins Lambert Smith Hampton Howard Jenkins T: T: M: M: E: lmcdowell@lsh.co.uk E: cj@howardjenkins.co.uk Sale by LPA Receivers This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability. Date: February 2016 Subject to Contract Disclaimer: These property details are believed to be correct but accuracy can not be guaranteed; they are expressly excluded from any offer or contract, in whole or in part. The information is given without responsibility on the part of Lambert Smith Hampton and Howard Jenkins and their client(s), and you should not rely on the information as being factually accurate about the property, its condition or its value. Lamber Smith Hampton and Howard Jenkins have no authority to make any representation or warranty in relation to the property. We have not undertaken a survey, nor tested the services, systems, appliances, fittings etc. Photographs and plans are provided for identification only. Areas, measurements and distances are approximate. Any reference to alterations or use does not mean that any necessary planning permission, building regulation or other consent has been obtained. Interested parties must rely on their own investigations as to the accuracy of these details and the condition and suitability of the property for their intended purpose, and should obtain independent professional advice. Designed and produced by Tel:

90 Botanic Avenue, Belfast, BT7 1JR. For Sale Prominent Retail & Residential Investment Opportunity

90 Botanic Avenue, Belfast, BT7 1JR. For Sale Prominent Retail & Residential Investment Opportunity For Sale Prominent Retail & Residential Investment Opportunity Retail Unit Apartment 1 Investment summary Purpose-built retail and residential investment opportunity comprising one retail unit and two