Description
Grade II* listed 3 storey property located on the extremely popular street of Mickegate within central York. The property comprises two commercial lets on the ground floor with a 5 bedroom AirBnB on the upper floor accommodation let off on a long leasehold interest.
Mickelgate has long been associated with the hospitality and leisure sector, boasting some top restaurants and bars, it is to be further enhanced by the creation of a 62 bed aparthotel opposite the subject property with construction on-going.
The property is subject to 3 leases producing a total rental of £40,900 per annum, all tenants have effective full repairing and insuring liabilities within their agreements;
122 Micklegate – Tenant – Sadie Belleh t/a Yie b You – 7 year lease from 10.07.2020 – Current Rental £14,000 p.a. – annual RPI increases (capped at 5%) – Effective FRI
124 Mickelgate – Tenant – Maison Parfaite Investments Ltd – 999 year lease from 17.09.2019 – Ground Rental - £150 p.a. – subject to RPI increases every 21 years – Effective FRI
126 Mickelgate – Tenant – Mr N Phattanavibul – Lease expiry 01.04.2036 –
Current Rental £26,750 p.a. – annual RPI increases – Effective FRI
Note – landlord is responsible for external repairs and insurance but reclaims by way of service charge from each tenant.
Planning - We recommend that interested parties make their own enquiries with
North Yorkshire Council on this - 0300 131 231 or complete and online enquiry
Contact us - North Yorkshire Council Customer Portal
Terms – Guide Price for the freehold interest - £550,000
Viewing - Strictly by appointment – 07841470654 / [email protected]
VAT – We understand that the property is not opted for tax.
