23 Horsemarket, Barnard Castle DL12 8LX
- Investment Opportunity For Sale
- Mixed Retail & Residential
- Rental Income of £38,540 pax
- To February 2024 without Breaks
- Popular Market Town
The property occupies a prominent location i...
Barnard Castle is located just north of the A66, approximately 16 miles West of Darlington and draws on an extensive, wealthy hinterland. The popular Market Town is situated in North Yorkshire with an affluent residential population.
The property occupies a prominent location in Horsemarket opposite Costa Coffee and Boyes Department Store, next to Specsavers which opened in August 2019 and close to Coop, Heron Foods, Holland & Barrett, Boots, Fat Face and recently opened Newcastle Building Society. Free surface parking is available on the Market Place immediately adjacent and in Galgate close by.
The property comprises a three-storey Stone built Grade II Listed property with ground floor shop and 4 newly refurbished flats over first & second floors with independent side access.
Shop - held on a 10 year lease to Marie Curie expiring 9 February 2024 and subject to upward only rent review on February 2019. Shop rent £18,500 pax based on a Tenants Full Repairing and Insuring Lease with Schedule of Condition. The tenant removed their break in 2019 by agreement.
4 flats - recently refurbished to a high standard and are configured with new fitted Kitchen diner, Bathroom/WC, bedroom(s) and private entrance hall. They are very well proportioned, and a schedule of room sizes can be provided on request.
All 4 Flats are let on 6 month Assured Shorthold Tenancies:
Flat 1, 23c- 1x Double bed
£375.00 pcm commencing 25/08/2018
Flat 2, 23b - 1x Double bed
£395.00 pcm commencing 16/05/2018
Flat 3, 23a - 2x Double bed
£450.00 pcm commencing 22/09/2017
Flat 4, 23d - 2x Double bed
£450.00 pcm commencing 23/12/2017
Total Gross residential income £20,040 pa
Ground Floor Sales : 722.00 sqft
Ground Floor Ancillary: 536.00 sqft
Rear Stores: 704.00 sqft
Kitchen: 129.00 sqft
wc: 0.00 sqft
Total: 2,091.00 sqft