22-26 Town Street and 1&2 Gambles Hill, Farsley

Location and Description

The property comprises a long established ground floor bar/bistro (The Village) fronting Town Street close to numerous other hospitality and independent retail businesses and for which the location has become popular. Gambles Hill at the rear giving gives access to two self contained 2 bed flats.

Farsley is an attractive and fashionable residential suburb with a large catchment, just inside the Leeds Ring road, and approx 5 miles West of the city centre.

EPC Rating

22-26 Town Street – C (54); 1 Gambles Hill – D (64); 2 Gambles Hill – D (68).

Accommodation

(floor areas approx.)

Ground/Lower Ground Floors: The  Village comprises an attractively presented wine bar, fitted out to a good standard. Bar/Dining 10.5 x 5.6 m o/a with fixed bar and central feature fireplace/stove, 2 seating areas 3.5 x 2.7 & 2.7 x 2.2m, plus cellar and bar wash areas. 2 WC’s. First Floor Kitchen/Prep 4.0 x 3.0 (both ave) with extract.

Note: No 20 Town Street (additional seating space/office with flat above) is owned by the tenant of Nos 22-26 and does not form part of the property/sale.

1 Gambles Hill: Sitting Room 4.3 x 3.7m, Kitchen 4.3 x 1.9m.2 Bedrooms 3.2 x 2.9 and 3.2 x 2.4m, Bathroom.

2 Gambles Hill: Kitchen 3.3 x 2.8m; Sitting Room 4.9 (max) x 2.8m;. 2 Bedrooms 2.7 x 1.9 and 3.0 x 2.8m, Dressing Room 3.0 x 2.0m; Bathroom.

Price

Guide Price £525,000 (offers invited).  

Rent

Current Gross rent £29,700 pax – A purchase at the above guide equates at a gross return of 5.66% (6.23% against potential gross income of £32,700 pax before allowance for purchasers’ costs.

Rateable Value

22-26 Town Street  RV £19,250; Gambles Hill No 1 – Council Tax Band A; No 2 – Council Tax Band A.

VAT

Not applicable

Tenancies

22-26 Town Street: – 10 year lease in favour of Nigel Shaw wef 13th November 2017 on effective FRI terms(*). Rent £15,000 pa

1 Gambles Hill – AST wef 30th September 2025. Rent £825 pcm (£9,900 pa)

2 Gambles Hill – presently occupied by the tenants of 22-26 Town Street at a concessionary rent of £400pcm (£4,800 pa) – (undocumented) Estimated Market Rent £650pcm

 – (*) repairing responsibility in respect of the demised/occupied areas

 – All rents are quoted on an exclusive basis

Viewing

By prior appointment through the sole agents Atkinson Associates 01943 666955.