68-70 Westgate 1,074 sq ft Retail Property Guisborough TS14 6AY £175,000 (£162.94/sq ft) 8.10% Net Initial Yield

The freehold interest in 68–70 Westgate, Guisborough is offered for sale subject to the existing occupational leases. The property provides a fully income-producing town centre investment comprising a ground floor retail unit with separately accessed upper floors.
The ground floor is let to Nhat Bui (nail salon operator) on a 5-year lease from 8 August 2022 at a rent of £10,000 per annum. The first and second floors are let to Daniel Murphy (tattoo studio operator) on a 7-year lease from 21 March 2023 at a rent of £4,160 per annum, subject to a tenant-only break at the end of year 6. Both leases are on effectively full repairing and insuring terms by way of service charge recovery.
The total current rental income is £14,160 per annum exclusive. The property is not elected for VAT.