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12
Aug 2022
Prestigious building on Harrogate's James Street put on the market
A landmark building on Harrogate's prestigious James Street has been put on the market for offers over £3.85m.
The freehold of the property — home to the Harrogate branch of department store Hoopers — is being marketed by Green & Partners.
The particulars say the retail business has a remaining lease of two years and eight months, due to expire or be renewed in March 2025.
The description says:
Read more:
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- Harrogate's James Street to get 17-bedroom aparthotel
- Revival for James Street as major brands set to open doors
The building, at 28-32 James Street, extends to 1,904m sq and currently generates an annual rental income of £350,000 on a full repairing and insuring lease.
It was previously sold in 2010 for £5.95m, according to the Land Registry. If the guide price is achieved, it would represent a drop in value of more than 35% in the last 12 years.
The sales particulars state that James Street is viewed as "the prime retailing thoroughfare" and cite brands including Oliver Bonas, Joules, Hotel Chocolat and Whistles as examples of its "higher end boutique" shops.
The information also advises that options for the building include negotiating a new lease to Hoopers, or securing vacant possession in order to redevelop the site. The description says:
The Stray Ferret has approached Hoopers for a comment but has not yet received a response.
The building was previously home to Marshall & Snelgrove. The late historian Malcolm Neesam wrote about its history for the Stray Ferret's history walks, available by clicking here.
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