The property is of stone construction under a pitched slate roof and arranged over basement, ground and 2 upper floors.
64-66 Otley Road provides an opportunity to acquire a prominent retail and residential investment on a vibrant high street. The building offers great prominence to passing traffic and strong frontage. The property has the advantage of being self-contained with a double frontage.
The one-bedroom flat has its own entrance to the rear of the property.
There is one car parking space allocated at the rear of the property.
LOCATION The property is located on the prominent and busy Otley Road (A65) in the popular suburb of Guiseley.
Being positioned in this well-established parade, a short distance from the junction with Oxford Road and Victoria Road, there is easy access to local amenities such as shops, banks, bars and restaurants.
Guiseley train station is a 5-minute walk with regular services to Leeds and Bradford. The area is also well connected with bus routes.
The property is surrounded by a vibrant mix of independent and national retail operators, including Morrisons, Skipton Building Society, Everybody’s Bar and Listers Blinds and Shutters. FLOOR AREAS
FLOOR
SQ.FT
SQ.M
Basement (storage)
980
91
Ground (retail)
1110
103
First (offices, storage & WC)
420
39
Second (kitchen and storage)
475
44
TOTAL
2985
277
The apartment is in need of modernisation and has been occupied by the same tenant since 2001.
THE INVESTMENT A 10-year lease from 12 January 2016 let to Sue Ryder Charity Shops. The current rent is £26,500 p.a. The apartment is let under an AST in 2001. The current rent is £450/month.
PURCHASE PRICE £410,000. This represents a gross yield of 7.75%.
EPC An up-to-date EPC is required. RATEABLE VALUE The rateable value of the commercial element is £24,500. The apartment is in Council Tax Band ‘B’. SERVICES We understand that all mains’ services are installed or are available. However, we recommend that prospective occupiers make their own enquiries as to the availability, suitability and capacity of such services.
VIEWING Strictly by appointment only, contact:- Richard Heslop: 01943 662662 Or email richard@de-commercial.co.uk
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