Five-yearly RPI linked rental uplifts (subject to a minimum 1% and maximum 4%)
Includes on-site car parking
Prominent location opposite ITV Leeds Television Studios
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 26
Auction 25th May 2017
Rent £50,199 per Annum Exclusive
Status Sold
Price £700,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Trustees of a Major Pension Fund
Property Information
Location
Miles
1 mile north-west of Leeds City Centre
Roads
A58, A61, A58(M)
Rail
Burley Park Railway Station, Leeds Railway Station
Air
Leeds/Bradford International Airport
Situation
The property is situated in a prominent corner position on the north side of Burley Road at its junction with Westfield Terrace, one mile from Leeds City Centre. The property is situated opposite ITV Leeds television studios in a mixed commercial and residential area.
Tenure
Freehold.
Location
Miles
1 mile north-west of Leeds City Centre
Roads
A58, A61, A58(M)
Rail
Burley Park Railway Station, Leeds Railway Station
Air
Leeds/Bradford International Airport
Situation
The property is situated in a prominent corner position on the north side of Burley Road at its junction with Westfield Terrace, one mile from Leeds City Centre. The property is situated opposite ITV Leeds television studios in a mixed commercial and residential area.
Tenure
Freehold.
Description
The property, an attractive end of terrace building, comprises a ground floor convenience store with ancillary accommodation on the first floor. The property benefits from on-site car parking for approximately six cars.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, an attractive end of terrace building, comprises a ground floor convenience store with ancillary accommodation on the first floor. The property benefits from on-site car parking for approximately six cars.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Ground First
Convenience Store Ancillary
297.74 sq m 180.69 sq m
(3,205 sq ft) (1,945 sq ft)
TESCO STORES LIMITED (1)
20 years from 13/01/2012 (2) on a full repairing and insuring lease
£50,199
13/01/2022 & 13/01/2027 (3) (12/01/2032)
Totals
478.43 sq m
(5,150 sq ft)
£50,199
(1) Tesco has over 3,500 stores and over 310,000 employees throughout the UK (Source: www.tescoplc.com 28/04/2017). (2) The lease is subject to tenant options to determine on 12th January 2022 and 12th January 2027. (3) The rent reviews are five yearly and linked to the Retail Price Index to a minimum of 1% and a maximum of 4% per annum compounded.