Harrogate leisure block changes hands for £3.7m
A retail and leisure block in Harrogate, North Yorkshire has changed hands for £3.7m.
European investment group Iroko has acquired 17-23 Parliament Street, which extends to 19,000 sq ft and is anchored by Five Guys, Mitchells & Butlers, and Marstons.
The asset has a weighted average unexpired lease term of 5.9 years to expiry and features one additional unit which is currently being marketed.
The property is situated within a highly prominent island position within a core leisure, café, and bar pitch in Harrogate. It is also in close proximity to the prime retailing locations of Cambridge Street and James Street, as well as the famous Bettys Café Tea Rooms. The surrounding area is home to Montpellier Quarter, which accommodates a number of fashion boutiques.
The asset had previously been marketed in 2024 with an asking price of £4.7m.
Portland Leisure Advisers acted for Iroko. CRRE Property Advice acted for the vendor.