5-13 New Brook Street, Ilkley, LS29 8DQ

Location and Description

• Town centre retail and office investment with development potential (STP)
• Incl parking at rear -attractive freehold opportunity
• Current annual income£40,750 pa (gross)
• Guide Price £525,000 (offers) – 7.76% gross

The property comprises a long established terrace of 4 Retail Units at Ground level (Nos 5/7, 11 & 13) having Offices over at First Floor (No 11), all being of substantial traditional construction and with the particular benefit of private parking at the rear.

Each of the lettings are self-contained (with separately metered services), Nos 5/7 occupied together (popular café/deli), as are Nos 9/11, the latter representing a ground floor reception for the first floor solicitors’ offices (No 9).

The site includes private parking at the rear (subject to rights across for Nos 1-3 to the north).
New Brook Street is a busy route into the town, the property visible/prominent to the main A65 through road, all immediately to the North of the prime shopping area and central car park – nearby occupiers including Boots, Timpson/Johnsons, Greggs etc.

Ilkley (population. Approx. 15,000) is a very popular Wharfedale town approx. 15 miles North West of Leeds and 12 miles West of Harrogate, offering residents a choice of quality retail and leisure as well as being a popular destination for visitors.

The premises have a strong record of occupation, the current tenants all long established (see attached schedule).

Planning

The property is within the town centre conservation area although none of the buildings is listed. Interested parties should direct planning enquiries to Bradford MBC Planning Office – tel. 01274 433807.

Terms

The units are let on broadly uniform terms (tenant internal repairing and insuring with part responsibility for common areas), all in accordance with the detailed schedule below. Copy leases are available on request.

Tenure

The overriding tenure of the property is Freehold.

Price

£525,000 (offers)

A purchase at the above guide would yield a return of 7.76% gross (7.36% after allowance for acquisition costs at 5.5%).
Note: – the sale will be subject to an overage provision triggered by a grant of planning consent (50% of any uplift in value as a result for a period of 10 years following the sale).

VAT

Not Applicable.

Viewing

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