Summary - APARTMENT 1, ABBEY WHARF, CANAL ROAD, SELBY YO8 8AG
1 bed 1 bath Trade Counter
Kwik-Fit let roadside freehold with strong income — 10 years lease remaining, cash buyers preferred..
Let to Kwik-Fit (GB) Limited, strong national covenant
A well-located roadside freehold let in Selby, producing a secure rent of £58,000 pa from Kwik-Fit (GB) Limited. The tenant has recently completed a full refurbishment and installed a 1,000 sq ft mezzanine, delivering a modern, turnkey automotive service centre with strong national covenant support.
The steel portal frame unit extends to 4,629 sq ft GIA with an eaves height of 4.75m, three electric roller shutters, external yards and parking to front and rear, plus prominent totem signage to Bawtry Road (A1041). Excellent road links (A19/A63) and Selby station within walking distance support high customer turnover and accessibility for trade users.
Material considerations are clear: a new 15-year FRI lease commenced November 2024 but only c.10 years remain to term (TBO 2034). This shorter unexpired term may restrict mortgage availability — some lenders typically refuse lending on investments with limited lease length. The surrounding area shows high crime levels and local deprivation, which could affect alternative occupier demand if the current tenant vacated.
This opportunity suits a private investor seeking secure income from a strong covenant on a visibly prominent trade location. Buyers should be prepared to proceed on a cash or specialist-lender basis and factor in local market considerations should re-letting be required in future.
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