Investment.

Scarborough.

The Balmoral Shopping Centre & Bar Walk, Aberdeen House, YO11 1LP

Map View

Status.

Available

Price.

£4,500,000 (Subject to Contract and Exclusive VAT)

Service Charge.

There is a service charge

Location.

Scarborough town centre benefits from a loyal, local catchment, the nearest competition being from York, some 40 miles away.

Description.

The asset comprises two separate sections, namely:

The Balmoral Centre: Anchored by Wilko, this represents the secondary covered retail offer within the town. Totaling 57,339 sq ft (not including the Car Park). Seven retail units are situated on ground floor, 5 fronting Westborough and an MSU and additional retail unit within the covered section of the scheme. There is a vacant night club located on first floor and a gym located on the second floor. There is also a 480 space NCP car park located to the rear above Wilko, with separate access into the centre.-

Tenure: Freehold.

Bar House, Aberdeen Walk: Comprising retail and leisure space over three floors totaling 17,602 sq ft. The income producing section is at ground floor level and comprises seven well configured unit shops fronting Westborough and Aberdeen Walk. The first and second floors are vacant and were formerly utilised as a night club.-

Tenure: Long leasehold for a term of 150 years, expiring 28/09/2141 (119 years unexpired). The freeholder is United Reformed Church (Yorkshire Province). The headrent payable is the higher of £27,000 pa or 15% of the ‘net passing rent’.The ‘net passing rent’ is the gross passing rent less a 5%notional management charge. The current headrent payable is £27,000pa.

Rent.

£724,135 per annum per annum exclusive

Tenure.

Freehold

Yield.

13.3% Net Initial Yield

Share.

All viewings are strictly by prior appointment.

David Freeman.

Partner | Investment

Patrick Over.

Associate Partner | Investment

Ed Smith.

Partner | Investment

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