Price
Rent
Net Initial Yield
Tenure
• The historic spa town of Harrogate is situated approximately 16 miles (25 km) north of Leeds and 21 miles (33 km) west of York.
• Harrogate is known as the gateway to the Yorkshire Dales and attracts an estimated 3 million visitors annually.
• Harrogate benefits from an affluent wider consumer base of approximately 354,000, over 50% of this catchment falls within the most affluent ACORN classification, ‘Affluent Achievers’, while 63% of working-age residents are categorised within the ABC1 social groups.
• Harrogate town centre demonstrates exceptional retail strength, retaining over 96% of retail expenditure with minimal leakage to competing centres.
• Harrogate is a prosperous town with a well-established retail environment, comprising approximately 1 million sq ft of retailfloorspace within the town centre.
• The property occupies a prime position on James Street, Harrogate’s prime retailing pitch.
• The property is let entirely to Hobbs Limited, on a full repairing and insuring lease until 19th August 2030.
• Total passing rent: £108,500 per annum.
• ERV: £118,670 per annum, £120 Zone A based on the most recent open market lettings on James Street.
• Freehold.
We are instructed to seek offers in excess of £1,700,000 (One Million Seven Hundred Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 6%, assuming standard purchaser’s costs.
Based on our ERV of £118,670 per annum, the reversionary yield will be 6.57% at lease expiry.
