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27-31 Cambridge St 6,863 SF 100% Leased Retail Building Harrogate HG1 1RW $4,284,534 CAD ($624.29 CAD/SF) 8.43% Cap Rate
Investment Highlights
- Prime freehold retail parade on Cambridge Street
- Let to Pandora, Bodycare & phone shop
- £207,000 p.a. income; WAULT 7.05 years
Executive Summary
27–31 Cambridge Street comprises a prime freehold retail investment in the heart of Harrogate’s pedestrianised shopping core, one of the UK’s most affluent and sought-after retail destinations. The property occupies a 100% prime trading position opposite major national retailers such as Primark and Boots, and provides three ground-floor retail units arranged across 6,863 sq ft, all fully let on separate tenancies to Pandora, Bodycare, and a phone shop, producing a combined passing rent of £207,000 per annum.
The upper parts - comprising 14 luxury one- and two-bed apartments around a modern atrium - will be retained by the vendor on a 250-year lease at a peppercorn rent. The commercial element offers an attractive WAULT of 7.05 years to expiry (5.07 years to break) and benefits from strong tenant covenants including Pandora Jewellery UK Ltd (A100 – very low risk). Situated in an affluent catchment with significant visitor spend, this asset provides secure income in a robust retailing location with proven occupier demand.
The upper parts - comprising 14 luxury one- and two-bed apartments around a modern atrium - will be retained by the vendor on a 250-year lease at a peppercorn rent. The commercial element offers an attractive WAULT of 7.05 years to expiry (5.07 years to break) and benefits from strong tenant covenants including Pandora Jewellery UK Ltd (A100 – very low risk). Situated in an affluent catchment with significant visitor spend, this asset provides secure income in a robust retailing location with proven occupier demand.
Property Facts Sale Pending
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
6,863 SF
Building Class
B
Year Built
1965
Price
$4,284,534 CAD
Price Per SF
$624.29 CAD
Cap Rate
8.43%
NOI
$361,186 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.29
Lot Size
0.54 AC
Frontage
75’ on Cambridge Street
Amenities
- 24 Hour Access
- Storage Space
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Nearby Major Retailers
Contacts
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Tom Heptonstall -
Patrick Kilvington -
Oliver Smart -
FMX Urban Property Advisers
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27-31 Cambridge St
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