Investment Properties for sale in Harrogate

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Ian McGregor (Nov 2013)
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Freehold Price: £650,000
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Business Description

An opportunity to acquire these two outstanding investment properties situated in the heart of Harrogate town centre within yards of the International Conference Centre. Absolute bustling site – PRIME POSITION WITHIN THE TOWN. Only bereavement forces this reluctant sale. The concern offers two restaurant lets plus seven residential lets above the restaurants which are already part let. The two independent restaurants are being offered with vacant possession and would let easily. At the time of our inspection, all of the residential accommodation is let, returning £30,000 per annum. The restaurants should return £55,000 per annum once leased - these units should not be too difficult to let in this fantastic position in Harrogate. The total rental income should be £85,000 when the restaurants are fully let. The Premises Comprise:- Casa Romana restaurant at 23 and 25 Cheltenham Crescent. 23 Cheltenham Crescent is freehold and owned outright by our client. 25 Cheltenham Crescent is leased and has been knocked through to 25 to form part of 23 which has made a very spacious Italian restaurant and cocktail bar incorporating reception leading to the cocktail bar and open ground plan restaurant up to 100 covers between the ground and first floor. Commercial kitchen, preparation areas, dishwashing, ladies and gents toilets. First floor overspill restaurant. Second floor storage rooms. Basement storage. Number 25 is leased and held on a secure lease by our client at a rent of £15,200 per annum. 21 Cheltenham Crescent is freehold and has a former Indian Restaurant and comprises ground floor restaurant, large kitchen area, ladies and gents toilets. Basement. Above the restaurant is self-contained residential accommodation incorporating a house of multiple lets (six rooms let to individual tenants) and one flat.
EPC’s Available Upon Request
Tenure: Freehold

Listed by: Ernest Wilson
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