Harrogate, North Yorkshire
A rare off-market opportunity to acquire a prominent retail unit in one of the most sought-after and affluent UK market towns.
EPF identified considerable asset management opportunities from the unit, with the ability to create a rare new double bay retail unit, with front and rear access and parking. along with the conversation of the vacant upper floors to prime residential units.
Having drawn up an attractive and viable scheme, EPF secured a valuable planning consent. WIth the benefit of planning, several unsolicited approaches were received for the freehold and EPF was able to exit, without development, at a high return.
Planning Permission achieved - Change of Use of first, second floor and part of basement from Retail (Use Class - A1) to form 4 no. flats and associated residential space (Use Class - C3
Investment Rationale and Asset Management:
Off-market vacant property with immediate opportunity to unlock considerable value.
Multiple Asset management angles, including conversion of uncapped uppers and creation of new retail.
Excellent location in affluent, prestigious town, among top 10 UK retail destinations.