Harrogate retail investment handed £1.7m price tag
A retail investment opportunity in Harrogate, North Yorkshire has been placed on the investment market with a price tag of £1,700,000, reflecting a net initial yield of 6%.
33 James Street comprises 3,424 sq ft of retail space across four floors, let in its entirety to womenswear brand Hobbs until August 2030, with a break option in August 2028.
The property produces an income of £108,500 per annum but has reversionary potential, with an estimated rental value of £118,670 per annum following recent deals on St James Street.
Nearby retailers include Oliver Bonas, Jigsaw, Next, Rituals, Monsoon, ME+EM, L.K. Bennett, Søstrene Grene, Whistles, and Crew Clothing Co..
Known as the gateway to the Yorkshire Dales, Harrogate has a well-established retail environment, comprising approximately 1 million sq ft of retail floorspace within the town centre.
The town’s prime retail pitch is on James Street, which hosts a mix of upscale boutique operators, independent retailers, and national brands. The street runs parallel to Cambridge Street and provides a key link between Harrogate Railway Station and the town’s primary leisure destination on Parliament Street, home to attractions such as Bettys Tea Rooms.
Harrogate’s sole covered shopping scheme is The Victoria Shopping Centre, situated on Cambridge Street. The 144,000 sq ft scheme is anchored by a 37,130 sq ft TK Maxx and includes a 786-space car park.
FMX Urban Property Advisers have been appointed to find a suitable purchaser for 33 James Street.