Studio flat for sale

FOR SALE - A Freehold Investment with new lease signed in March 2023.This warehouse has a gross floor area of approximately 8,491 sq ft (788 sqm) including a mezzanine with individual offices and stands within its own grounds with a yard to the rear. The unit has just undergone a scheme of refurbishment in readiness for the new tenant who has agreed to a new 5 year Landlord & Tenant Act lease with a passing rent of ?35,000 per annum. This would make it a great investment and offers an initial yield of 7.3% based on the guide price of ?475,000Full DescriptionThe building sits on a site of 0.501 acres (0.203 hectares)It has a gross floor area of approximately 8,491 sq ft (788 sqm) including a mezzanine with individual offices and stands within its own grounds with a yard to the rear. The unit has just undergone a scheme of refurbishment in readiness for the new tenant who has agreed to a new 5 year Landlord & Tenant Act lease with a passing rent of ?35,000 per annum. This would make it a great investment and offers an initial yield of 7% based on the guide price of ?475,000. The property comprises a trade counter and warehouse accommodation incorporating a mezzanine with individual offices. Externally, the property benefits from car parking to the front elevation and a large concrete surfaced yard area to the rear.LocationThe property is situated to the south of Scarborough and is accessed from Queen Margaret's Road, just off the A64. The A64 is the main arterial road which links Leeds, York and Scarborough and also the national motorway network beyond.TermsFreehold sale and subject to the Landlord & Tenant Act lease.ViewingStrictly via sole agents Colin Ellis Property Services on 01723 363565.RatesWe believe the Business Rateable Value for the year ending 2022 / 2023 is ?26,750 per annum.Legal CostsEach party to bear there own legal costs in dealing with this transaction.OtherWe view all our commercial listings please visit www.colinellis.co.uk