Mill Hey, Haworth, Keighley, BD22
Mixed Use Investment Opportunity
Well Presented Retail Unit
To the front of the premises located at the corner of Mill Hey and River Street is a ground floor retail unit, currently fitted out as a hair/ beauty salon. The retail accommodation is presented to a very good standard overall and is divided to comprise a front salon area with large glazed return frontage, together with steps leading to a further salon to the rear which also incorporates kitchen area and a WC facility.
To the upper floors, accessed from the side of the property, is a generous sized self-contained flat known as 46 River Street. The accommodation is across the first and second floors and comprises lounge, kitchen, bathroom and 3 bedrooms.
To the lower ground floor of the property is a self-contained studio flat which is accessed through a yard area leading off Back River Street.
The retail accommodation is let at a passing rent of £10,200 per annum on effective FRI terms and has approximately 3 years remaining on the lease.
The flat at 46 River Street is let at £400 per calendar month on an assured shorthold tenancy whilst the lower ground floor studio flat is let at £300 per calendar month again on an assured shorthold tenancy.
The retail element has been measured in accordance with the Royal Institution of Chartered Surveyors Property Measurement 1st Edition (2015) on a net internal area basis to provide the following approximate measurements.Front Salon - 20.92 sqm (225 sqft)Rear Salon - 13.01 sqm (140 sqft)Kitchen - 6.20 sqm (67 sqft)
The flat at 46 River Street is currently let at £400 per calendar month on an assured shorthold tenancy whilst the lower ground floor studio flat is let at £300 per calendar month again on an assured shorthold tenancy.
The subject premises are available to purchase on a freehold basis subject to the existing tenancies at a price of £199,500.
We have made enquiries from the Valuation Office Agency's website which shows the following rating assessment for the ground floor:43 Mill Hey Rateable Value £3,550Standard Non-Domestic Multiplier 2018/19 48.0pN.B. The rateable value is not the sum payable. The Non Domestic Business Multiplier should be applied after which small business relief and transitional phasing may also be applicable. Interested parties should make their own enquiries with the Valuation Office Agency or Local Authority.
From the Valuation Office Agency's website, we have been able to ascertain the Council Tax Bands for the residential element as follows:Upper floors (46 River Street) Council Tax Band ALower Ground Floor Council Tax Band A
Energy Performance Certificates
Copies of the Energy Performance Certificates are available via the agent.43 Mill Hey - rating D46 River Street - rating EBack River Street - rating C
The subject property is located in a prominent corner position along Mill Hey, one of the main arterial routes into the historic village of Haworth. Howarth sits on the River Worth and is famous for being the home of the Bronte Family, attracting visitors from across the world. The village is located to the north of Bradford which provides direct access to both the national motorway and railway networks throughout the United Kingdom.
The property forms part of a parade of other retail and residential units and is within a short distance of the Keighley and Worth Valley steam railway.