•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

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