ASDA, Boroughbridge Road, Knaresborough, HG5 0NG

Offers in excess of £2600000.00

The property comprises a high quality, recently refurbished and extended petrol filling station and convenience store located in an affluent area with 17.5 years remaining on the lease and 5 yearly fixed increases.

The property benefits from the following:

- Half a mile from Knaresborough Town Centre and 3 miles from Harrogate, North Yorkshire

- Knaresborough is a popular residential commuter town and tourist hot spot in North Yorkshire

- Prominent site at the junction of Boroughbridge Road and Stockwell Road benefiting from good volumes of passing traffic and serving the wider area and rural villages to the north

- Let to Arthur Food Stores Limited (T/A ASDA) on assignment from Co-Operative Group Limited, guaranteed by Co-Operative Group Food Limited

- ASDA acquired 132 Filling Stations from Co-op in 2022 and have been establishing their forecourt business under the company Arthur Foodstores Limited, which is owned by ASDA until August 2042

- EPC Rating C (73)

- Passing rent of £177,631.09 with fixed rental uplifts of 2.5% pa, reviewed 5 yearly

- The rent will increase at the 2027 review to £200,973.27

- ASDA have extensively refurbished the property post-acquisition

We are instructed to seek offers in excess of £2,600,000 subject to contract and exclusive of VAT. This reflects an attractive NIY of 6.41%, with an increase to 7.27% at the 2027 review (assuming usual purchaser costs at 6.40%).

The Petrol Station is situated less than half a mile from Knaresborough Town Centre. It is prominently positioned on the east side of Boroughbridge Road, one of the main arterial routes through Knaresborough providing direct access to J48 of the A1(M), 6 miles to the north.

The property is very well-positioned, serving not only the northern residential areas of Knaresborough, but a number of villages to the north including Ferrensby, Staveley, Farnham and Scotton.