Property photos
£195,000
(£241.64/sq. ft)
Retail premises for sale
Westgate, Guisborough TS14807 sq. ft
Local area information
Property location
Nearby amenities
- Chaloner Primary School 0.4 miles
- Belmont Primary School 0.5 miles
- Longbeck 3.9 miles
- Marske 3.9 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Total rental income - £17,100 per annum
- Freehold multi let investment
- Established location
- Market town location
- Rental increase August 2027
- 2 self contained units
- Small business rates applicable
- Established local tenants
Location
The property is situated on Westgate, the prime retail pitch in the centre of Guisborough, within a market town on the northern edge of the North York Moors National Park which lies approximately 8 miles to the south-east of Middlesbrough, 20 miles east of Darlington and 60 miles north of York.
Holding a prominent position on the northern side of Westgate, the property is positioned between The Ironstone Miner Wetherspoons and Yorkshire Building Society and opposite Selective Properties. Other retailers in Guisborough include Boots, Morrisons, Dandy Threads, Costa and Heron Frozen Foods. Free disc parking is available immediately outside the premises and it is surrounded by other local retailers and businesses.
Description
The property comprises an end terrace building of traditional brick construction arranged to provide a ground floor cocktail bar and upper floor barbers.
80 Westgate is configured to provide open plan ground floor sales area with ancillary areas to the rear including stores, and WC. The ground floor is occupied by a private individual trading as Olive or Twist.
80a Westgate provides first and second floor hair salon accommodation together with first floor kitchen, WC and stores and ancillary areas within the attic space. The upper floors are occupied by a private individual trading as Cut Above.
The property benefits from two self contained units with separate ground floor access.
Accommodation
The property has the following approximate areas:
80 Westgate
Ground Floor
Sales Area 31.65 sq m 341 sq ft
Stores 8.12 sq m 87 sq ft
WC
Total (NIA) 39.77 sq m 428 sq ft
80a Westgate
First Floor
Salon Area 18.01 sq m 194 sq ft
Stores 5.16 sq m 55 sq ft
WC
Second Floor
Stores 12.05 sq m 130 sq ft
Total (NIA) 35.22 sq m 379 sq ft
Rateable value
The property has the following rateable values:
80 Westgate, Guisborough - £ 6,900 (Shop and Premises)
80a Westgate, Guisborough – £ 2,300 (Salon and Premises)
Tenure
80 Westgate is currently let to a private individual on a 5 year iri lease from 01 August 2022, at a passing rent of £12,000 per annum. There are around 2 years remaining on the lease.
80a Westgate is currently let to a private individual on a 7 year on a 5 year iri lease from 01 August 2024, at a passing rent of £5,100 per annum. There are around 6 years remaining on the lease. The rent is due to increase to £5,280 per annum on 01 August 2027 for the remaining term of the lease
The total rent receivable by the landlord is presently £17,100 per annum exclusive.
Documentation is available on request.
Opportunity
The freehold investment is available to purchase at an asking price of £195,000 exclusive of VAT if applicable.
The property is occupied by two established local businesses and situated in the centre of the historic town of Guisborough on the northern edge of the North York Moors.
Legal costs
Each party will be responsible for their own legal costs in respect of this transaction.
VAT
All rent / prices quoted are exclusive of VAT if applicable.
Viewing
Strictly by appointment through this office only.
Contact – Jack Robinson / Paul Stevenson
Email -
Tel Subject to Contract
The property is situated on Westgate, the prime retail pitch in the centre of Guisborough, within a market town on the northern edge of the North York Moors National Park which lies approximately 8 miles to the south-east of Middlesbrough, 20 miles east of Darlington and 60 miles north of York.
Holding a prominent position on the northern side of Westgate, the property is positioned between The Ironstone Miner Wetherspoons and Yorkshire Building Society and opposite Selective Properties. Other retailers in Guisborough include Boots, Morrisons, Dandy Threads, Costa and Heron Frozen Foods. Free disc parking is available immediately outside the premises and it is surrounded by other local retailers and businesses.
Description
The property comprises an end terrace building of traditional brick construction arranged to provide a ground floor cocktail bar and upper floor barbers.
80 Westgate is configured to provide open plan ground floor sales area with ancillary areas to the rear including stores, and WC. The ground floor is occupied by a private individual trading as Olive or Twist.
80a Westgate provides first and second floor hair salon accommodation together with first floor kitchen, WC and stores and ancillary areas within the attic space. The upper floors are occupied by a private individual trading as Cut Above.
The property benefits from two self contained units with separate ground floor access.
Accommodation
The property has the following approximate areas:
80 Westgate
Ground Floor
Sales Area 31.65 sq m 341 sq ft
Stores 8.12 sq m 87 sq ft
WC
Total (NIA) 39.77 sq m 428 sq ft
80a Westgate
First Floor
Salon Area 18.01 sq m 194 sq ft
Stores 5.16 sq m 55 sq ft
WC
Second Floor
Stores 12.05 sq m 130 sq ft
Total (NIA) 35.22 sq m 379 sq ft
Rateable value
The property has the following rateable values:
80 Westgate, Guisborough - £ 6,900 (Shop and Premises)
80a Westgate, Guisborough – £ 2,300 (Salon and Premises)
Tenure
80 Westgate is currently let to a private individual on a 5 year iri lease from 01 August 2022, at a passing rent of £12,000 per annum. There are around 2 years remaining on the lease.
80a Westgate is currently let to a private individual on a 7 year on a 5 year iri lease from 01 August 2024, at a passing rent of £5,100 per annum. There are around 6 years remaining on the lease. The rent is due to increase to £5,280 per annum on 01 August 2027 for the remaining term of the lease
The total rent receivable by the landlord is presently £17,100 per annum exclusive.
Documentation is available on request.
Opportunity
The freehold investment is available to purchase at an asking price of £195,000 exclusive of VAT if applicable.
The property is occupied by two established local businesses and situated in the centre of the historic town of Guisborough on the northern edge of the North York Moors.
Legal costs
Each party will be responsible for their own legal costs in respect of this transaction.
VAT
All rent / prices quoted are exclusive of VAT if applicable.
Viewing
Strictly by appointment through this office only.
Contact – Jack Robinson / Paul Stevenson
Email -
Tel Subject to Contract
More information
Listed by
Thomas Stevenson
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