Property for sale
Property description & features
- Tenure: Leasehold (234 years remaining)
- 3124 Sq ft
- Fully Let
- Tenanted Investment
- City Centre Location
- High Yield
Modern detached ground and first floor Braford City Centre property situated within The Rawson Quarter on the east side of Rawson Place, between its junctions with Rawson Square and Godwin Street and occupiers close by include Wilko, Fulton Foods, and Oxfam whilst within the nearby Kirkgate Shopping Centre are Primark, Greggs, Sports Direct, New Look and Deichmann Shoes.
Location - The City of Bradford is a principal commercial centre in West Yorkshire, located some 9 miles west of Leeds and 29 miles north east of Manchester and benefits from good road communications being in close proximity to the M62 (Junc 26) via the M606, the A650, the A658 and the A647.
The property forms part of The Rawson Quarter and is situated in the city centre on the east side of Rawson Place, between its junctions with Rawson Square and Godwin Street and occupiers close by include Wilko, Fulton Foods, and Oxfam whilst within the nearby Kirkgate Shopping Centre are Primark, Greggs, Sports Direct, New Look and Deichmann Shoes.
Description - Modern detached ground and first floor property in a good position comprising a detached parade of 3 ground floor shops (2 interconnecting) with first floor accommodation.
Accommodation - The property offers the following accommodation:-
UNIT 1 & 2
Ground floor Sales area 1427 sq ft 132.60 m2
First loor Sales area 1461 sq ft 125.70 m2
plus w/cs
UNIT 3
Ground floor Sales area 236 sq ft 21.9 m2
plus w/cs
TOTAL 3124 sq ft 290.2 m2
Price - For Sale £215,000 long Leasehold
VAT is applicable on the sale
Leasehold held on a lease expiring on 17.06.2255 (thus having some 234 years unexpired)
Annual service charge currently £2,865 payable quarterly £716.25 plus vat
Tenancy - The property is tenanted as follows:-
UNIT 1 & 2
10 year lease from 9th Nov 2018
Current rent £17,500 plus vat
Rent Review 2023
Service charge incoporated into annual rental
Tenant pays Landlord a 3% annual management fee plus vat
Tenant pays Building Insurance
UNIT 3
6 year lease from 1st Dec 2017
Current rent £4,950 per annum plus vat
Plus annual service charge currently £539.08 plus vat
2020 Rent Review outstanting
Tenant pays Landlord a 5% annual management fee plus vat
Tenant pays Building Insurance
TOTAL RENTAL £22,450 per annum
PLUS MANAGEMENT FEES
Business Rates - The units have been assessed by the Valuation Office Agency at £,8100, £9,000 and £9,100
Each unit enjoys the benefit of 100% Small Business Rate relief (subject to status)
ZERO PAYABLE
Interested parties are advised to make their own inquiries in this respect.
Energy Performance Certificate - Energy Performance Certificates for 111-115 Otley Road is:-
2870-9400-2176-3369-6695
This can be viewed on The Asset Rating is B-45
Energy Performance Certificates for 115a Otley Road is:-
2622-6852-2867-3512-4536
This can be viewed on The Asset Rating is C-62
Viewings - For further information or to arrange a viewing, please contact Peter Davies on[use Contact Agent Button].
Misrepresentation Act 1967 - Stoneacre Properties acting as agent for the vendors or lessors of this property give notice that:-
1.The particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract.
2.All descriptions, dimensions, condition statements, permissions for use & occupation, and other details are given in good faith and are believed to be correct. Any intending purchasers or tenants should not rely them as such as statements or representations of fact but must satisfy themselves by inspection or otherwise as the correctness of each of them.
3. No person in the employment of Stoneacre Properties has any authority to make or give representation or warranty whatsoever in relation to this property.
4.All prices and rents are quoted exclusive of VAT unless expressly stated to the contrary.
MISDESCRIPTIONS ACT 1991
These details believe to be correct at the time of compilation, but may be subject to subsequent amendment.
A Director of Stoneacre Properties have a financial interest in this property
ALL OFFERS ARE SUBJECT TO CONTRACT OR LEASE.
Details prepared October 2022.
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