Retail premises for sale

Falsgrave Road, Scarborough YO12

Investment Consideration:
Gross Initial Yield: 10.00%
Rental Income: £12,000 p.a.
VAT is not applicable to this property
Comprises prominent triple-fronted retail premises t/a Charity Shop
Occupies prominent corner location at the junction of Falsgrave Road with Westborough and Victoria Road, within short walk from Scarborough Train Station
Retail occupiers nearby include Sainsbury`s, Medical Surgery, Takeaway, Café and more.

Property Description:
Comprises prominent triple-fronted retail premises arranged at ground floor and t/a Charity Shop. The property provides the following accommodation and dimensions:
Ground Floor: 148 sq m (1,593 sq ft)
Open plan retail, kitchen, storage, wc

Tenancy:
The property is at present let to Farplace Animal Rescue Limited for a term of 5 Years from 7th October 2021 at a current rent of £12,000 per annum and the lease contains full repairing and insuring covenants.

Tenure:
Held on a 999 year lease from 1st September 2023 at a ground rent of peppercorn.

Location:
The famous seaside town of Scarborough is located on the North Yorkshire coast, approximately 37 miles north-east of York and 37 miles north of Hull. The town is served by the A64, A165, A170 and A171 providing access to York, Hull, Thirsk and Middlesbrough respectively. Scarborough Rail Station provides a regular TransPennine Express service to Liverpool via York, Leeds and Manchester. The property is situated on the northern side of Falsgrave Roar, at its junction with Westborough and Victoria Road, within short walk from Scarborough Train Station. Retail occupiers nearby include Sainsbury`s, Restaurant, Medical Surgery, Takeaway, Café and many more.