FREEHOLD RETAIL PREMISES
Rare freehold commercial investment
Good rental return potential
Retail, restaurant or office use
Closed with vacant possession
REF 590146. EPC Band C.
Property, Offers Over £140,000
Northallerton

FREEHOLD RETAIL PREMISES in Northallerton for Sale.

The opportunity to acquire a freehold commercial property in Northallerton, North Yorkshire is rare. Formally one of the towns longest running cafe and tea room businesses. Our clients operated the business since 1991 but are now looking forward to a well-earned retirement. This property will undoubtedly be of interest to catering professionals looking for the security of owning their own premises, as well as to commercial property investors looking to lease the premises for a good annual rental income. The property was generating a rental income of £13,000 per annum back in 1995, before our client bought the property. In todays market, we would expect a rental return of at least £15,000 per annum, representing a 10% per annum return on investment. Located within one of Northallerton’s well known shopping arcades and benefitting from lots of customer footfall from the large public car park behind the Garthway and Barkers Arcades. The premises enjoys a consistent and predictable footfall. Brick built property in the middle of a pedestrian shopping precinct. Ground and 1st floor with triple wide frontage and with some outside seating permitted. Spaciously arranged seating for 30 diners. Pay counter with dessert display. Food prep area and catering kitchen. Pot wash area. First floor dining room for 26 to 28 customers. Second food prep kitchen and pot-wash. Dry and chilled goods storage. Customer WC. Utility area and dry stores corridor. We are advised that the first floor was a residential flat in the past and probably still holds this consent, although interested parties should make their own enquiries regarding this. The property is available with vacant possession. EPC Band C.