Commercial property for sale in Hildyard Row, Catterick Garrison DL9

•Investment opportunity

•Shop & flat investment

•Main road frontage opposite Garrison

•New lease to Ladbrokes Betting & Gaming Limited

•Price £235,000

Location
The property is situated on Hildyard Row in Catterick Garrison. Catterick Garrison is a town around 12 miles south-west of Darlington and 3 miles south of the market town of Richmond. It lies approximately 3 miles west of junction 52 of the A1(M) motorway.

Catterick Garrison is reportedly home to the largest British Army Garrison in the World. The subject property is located opposite part of the Garrison. Other occupiers in the parade include a spar convenience store, as well as a range of independent traders including barbers, dentists, public houses and hot food takeaways.

Description
The property comprises a two-storey mid-terraced building of partially rendered brick construction under a pitched and flat roof.

The ground floor shop benefits from a modern, double glazed shop front. Internally, it is fitted out to a high standard as a bookmakers, with laminate flooring, plastered walls and suspended ceiling with recessed lighting and air conditioning. To the rear of the shop is an office/staff room as well as both staff and customer toilets.

The first floor flat is independently accessed from the front of the building and provides two bedroom accommodation. It benefits from double glazing and wall mounted electric heaters, but could benefit from some upgrading.

Accommodation
The ground floor shop extends to a net internal area of 174.94 sq m (1,883 sq ft) – source voa Website

The first floor flat provides the following accommodation:

Hallway leading to:
Lounge/diner
Bedroom 1
Bedroom 2
Bathroom
Kitchen
Utility room

terms

Tenure

The property is held on a freehold basis.

Tenancies

The ground floor is let to Ladbrokes Betting & Gaming Limited by way of a lease from 1 July 2023 to 30 June 2028 at a rent of £18,000 per annum. There is an option for the tenant to break the lease on 30 June 2026.

The tenant is responsible for all internal repair and to contribute towards landlord’s costs in maintaining the exterior of the building and obtaining building insurance.

We understand Ladbrokes Betting & Gaming Limited was established 60 years ago and as at 2022, had a net worth of £1 billion.

The first floor flat is currently vacant.

Our client’s freehold interest in the whole of the property, including the shop and flat, subject to the existing lease for the ground floor, is available at £235,000.

Outgoings
The property is entered into the Rating List as follows:

Description: Betting shop & premises
Rateable Value: £18,500

The flat is entered into the Council Tax List as a Band A property.

VAT
The property is not registered for VAT and therefore VAT will not be payable on the purchase price

legal costs
Each party to bear their own legal costs.

Viewing
Strictly by appointment with sole agents YoungsRPS.

Contact Paul Fairlamb