Burgate, Pickering Guide Price £350,000

• An excellent opportunity to acquire an attractive mixed use freehold investment
• Occupying a prime spot at the top of Pickering's Market Place
• Grade II listed building providing 1,721 square feet in total over four floors
• 839 square feet of commercial space to the ground & lower ground floor
• Existing tenants operating a successful and popular Café. Classification A3/A4/A5
• Currently let on a full repairing lease
• Newly refurbished 3 storey apartment providing attractive residential accommodation
• Well-maintained, Distinctive Property in a Prominent Location in this Busy Market Town.

Excellent investment opportunity comprising a prominently positioned mixed use property, set at the top of Pickering Marketplace and providing a versatile range

of commercial and residential space.

1 Burgate faces directly onto the Market Place and comprises a substantial, Grade II Listed period property.  In all the building provides over 1,700 square feet of accommodation and benefits from an established occupier to the commercial space, providing an incoming purchaser with the benefit of immediate rental income and further income potential, as when fully let out 1 Burgate as a whole has realised a solid yield of 6.5% PA.

To the ground and lower ground floors is 839 square feet of commercial space. The commercial premises are currently operating as a well-established and popular cafe, providing a rental income of £14,000 with the lease extending until 2028, offer an attractive degree of income security. The building is classified as A3/A4/A5 usage.  

Comprising the top two floors of the building, with a private entrance off Willowgate, the flat has been recently refurbished and provides an attractive range of versatile accommodation. In brief; entrance vestibule, kitchen, living room, sitting room/bedroom and a further double bedroom and house bathroom. Until recently the rent passing was £725 PCM. 

LOCATION

Pickering is a busy market town on the southern boundary of the North York Moors National Park and some 25 miles north of the city of York.  The town has a wide range of amenities, including primary school, surgery, library, sports centre and swimming pool. Convenient also for the surrounding countryside; the neighbouring North York Moors National Park to the north and the Heritage Coastline to the east.