73 - 83 Northgate & 1 Rishworth Street Wakefield WF1 3BX

73 - 83 Northgate & 1 Rishworth Street
Wakefield
WF1 3BX

Substantial Retail Parade Investment

  • Unbroken Retail Parade Comprising Eight Retail Units
  • City Centre Location
  • Located opposite Borough Road Car Park and adjacent to Rishworth Street Car Park
  • Nearby occupiers include the Post Office and Co-operative Bank
  • Rent: £77,080 p.a.x. (gross), £66,287 p.a.x. (net)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    116
  • Auction
    13th October 2016
  • Rent
    £77,080 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Substantial Retail Parade Investment

  • Unbroken Retail Parade Comprising Eight Retail Units
  • City Centre Location
  • Located opposite Borough Road Car Park and adjacent to Rishworth Street Car Park
  • Nearby occupiers include the Post Office and Co-operative Bank
  • Rent: £77,080 p.a.x. (gross), £66,287 p.a.x. (net)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 116
  • Auction 13th October 2016
  • Rent
  • Status Withdrawn Post
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG

Property Information

Location
Miles
10 miles south of Leeds, 13 miles north-east of Huddersfield, 24 miles north of Sheffield
Roads
A61, A642 M1 (Junction 40)
Rail
Wakefield Westgate
Air
Leeds Bradford Airport
Situation

The property is prominently situated on the popular retailing thoroughfare of Northgate at its junction with Rishworth Street. The property benefits from being adjacent to the Rishworth Street multi storey car park and opposite Borough Road Car Park. Nearby occupiers include the Post Office and Co-operative Bank.

Tenure

Long Leasehold. Held on three separate headleases from City of Wakefield Council, at a total rent of £10,793 p.a. with each lease expiring in 2068. See legal pack for further information.

Location
Miles
10 miles south of Leeds, 13 miles north-east of Huddersfield, 24 miles north of Sheffield
Roads
A61, A642 M1 (Junction 40)
Rail
Wakefield Westgate
Air
Leeds Bradford Airport
Situation

The property is prominently situated on the popular retailing thoroughfare of Northgate at its junction with Rishworth Street. The property benefits from being adjacent to the Rishworth Street multi storey car park and opposite Borough Road Car Park. Nearby occupiers include the Post Office and Co-operative Bank.

Tenure

Long Leasehold. Held on three separate headleases from City of Wakefield Council, at a total rent of £10,793 p.a. with each lease expiring in 2068. See legal pack for further information.

Description

The property comprises a retail parade of eight retail units arranged over the ground, basement and first floors.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a retail parade of eight retail units arranged over the ground, basement and first floors.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
73 Northgate Ground
First
Retail
Ancillary
83.50 sq m
50.30 sq m
(898 sq ft)
(541 sq ft)
BAYFIELDS
(WAKEFIELD)
LIMITED
t/a Bayfields Optician
10 years from
25/12/2014
£14,500 25/12/2019
(24/12/2024)
73a Northgate Ground
First
Retail
Ancillary
58.50 sq m
102.30 sq m
(629 sq ft)
(1,101 sq ft)
BLADES
EMPORIUM
LIMITED
t/a Blades Barber Shop
10 years from
05/07/2016 (1)
£11,000 04/07/2021
(04/07/2026)
75 Northgate Ground Retail
47.10 sq m
(506 sq ft)
VACANT
POSSESSION
- - -
77 Northgate Ground
First
Retail
Ancillary
50.80 sq m
25.06 sq m
(546 sq ft)
(269 sq ft)
INDIVIDUAL t/a
Heiress Hair & Beauty
3 years from 02/06/2014 £6,080 (01/06/2017)
79 Northgate Ground
First
Retail
Ancillary
52.70 sq m
54.80 sq m
(567 sq ft)
(589 sq ft)
RW & SW
SCHOOLWEAR
LIMITED
t/a Trutex
3 years from
07/01/2015
£10,000 (06/01/2018)
81 Northgate Ground
First
Retail
Ancillary
42.00 sq m
46.40 sq m
(452 sq ft)
(499 sq ft)
INDIVIDUAL t/a
Prestige Gowns
5years from
31/05/2016 (2)
£10,000 (30/05/2021)
83 Northgate Ground
Basement
First
Retail
Ancillary
Ancillary
130 sq m
23.60 sq m
26.20 sq m
(1,399 sq ft)
(254 sq ft)
(282 sq ft)
LOANS
2 GO
LIMITED
t/a Loans
2 Go
5 years from
17/07/2014 (3)
£15,000 (16/07/2019)
1 Rishworth Street Ground
First
Retail
Ancillary
49.00 sq m
37.00 sq m
(527 sq ft)
(398 sq ft)
INDIVIDUALS t/a
Sandwich & Co
7 years from 06/08/2012 £10,500 (05/08/2019)
Total    
879.26 sq m
(9,457 sq ft)
    £77,080  

(1) The lease provides a tenant option to determine on 04/07/2021.
(2) For the purposes of clarification, Unit 81 is currently benefitting from a one year concessionary rent of £6,750 p.a. The seller has agreed to adjust the completion monies so that the unit will effectively produce £10,000 p.a.x. from completion of the sale. The lease provides a tenant option to determine on 31/05/2019.
(3) The lease provides a tenant option to determine on 17/07/2017.

Property Documents

  • Site Plan
    Updated Date
    21.09.16
    File Size
    76 KB
    View PDF
  • Catalogue Page
    Updated Date
    21.09.16
    File Size
    605 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Eversheds LLP 1 Callaghan Square
Cardiff
CF10 5BT
Amy Jones 0845 497 9797amyjones@eversheds.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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