Properties
Terms Agreed
Ilkley is an affluent commuter town with a population of 15,000. Situated on the edge of the famous Ilkley Moor, it is a very popular tourist destination with a total annual footfall of over 400,000.
The commercial centre of Leeds is only 15 miles and there are half hourly train services serving Leeds and Bradford both being within 30 minutes. Skipton is only 20 minutes drive and regarded as the Gateway to the Yorkshire Dales. The M1/A1 and M62 are within a 40-minute drive giving motorway access to the north/north east of England.
Ilkley has numerous bars, restaurants and cafés many of which are independent, together with Piccolinos and the Box Tree restaurant. The Grove represents the town’s premier retail street, with the renowned Betty’s Café Tea Rooms nearby.
DESCRIPTION
The property is an attractive mid-terrace Victorian built property of stone construction underneath a pitched slate roof providing accommodation on five floor levels and prominently positioned on The Grove.
The lower ground floor which has access from Back Cunliffe Road and ground floors are let to national charity Scope, with three floors of offices above.
The offices are well-appointed with bay windows having stunning views overlooking Ilkley Moor. Wholly refurbished and refitted 5 years ago the offices are largely open-plan heated by way of electric radiators and which have LED lighting.
A shared kitchen and WC’s are situated on half floor landings.
| Sq Ft | |
| Lower Ground Floor | 582 |
| Ground (Sales) | 638 |
| Ground ITZA | 387 |
| First Floor | 568 |
| Second Floor | 555 |
| Third Floor | 342 |
| TOTAL | 2,685 |
The property is held Freehold.
We are instructed to seek offers in the region of £695,000. This represents a net initial yield of 6.5% with a reversionary yield of 7.1% allowing for purchaser’s costs of 5.3%
Each party is to be responsible for their own legal fees incurred in the transaction.
The property has not been elected for VAT.
| Rental | |
| Lower & Ground Floors | £26,000 pax |
| First Floor | £9,000 pax |
| Second Floor | £7,500 pax |
| Third Floor | £5,000 pax |
| TOTAL INCOME | £47,500 pax |
By prior appointment through the joint agents Atkinson Associates – 01943 666955 and Sanderson Weatherall – 0113 221 6000.
Alastair McDowell, MRICS
Consultant
