York Road Shopping Centre Leeds Yorkshire LS9 6T9

York Road Shopping Centre
Leeds
Yorkshire
LS9 6T9

Freehold Retail Park Investment

  • Fully let retail park comprising three units
  • Over 85% of income secured from Iceland Foods Limited and B&M Retail Limited
  • City Centre Location highly visible from busy A64
  • Three retail units comprising 2,511 sq m 27,000 sq ft) on a substantial site of 082 hectares (2.04 acres)
  • Onsite parking for approximately 109 cars
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    36
  • Auction
    13th October 2016
  • Rent
    £194,751 per Annum Exclusive
  • Status
    Sold
  • Price
    £2,425,000
  • Sector
    Retail Warehouse
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On Behalf of a Major Fund Manager
Important Update
  • Expand
  • Photos
  • Map

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

Freehold Retail Park Investment

  • Fully let retail park comprising three units
  • Over 85% of income secured from Iceland Foods Limited and B&M Retail Limited
  • City Centre Location highly visible from busy A64
  • Three retail units comprising 2,511 sq m 27,000 sq ft) on a substantial site of 082 hectares (2.04 acres)
  • Onsite parking for approximately 109 cars
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 36
  • Auction 13th October 2016
  • Rent
  • Status Sold
  • Price £2,425,000
  • Sector
    Retail Warehouse
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On Behalf of a Major Fund Manager

Property Information

Location
Miles
1.5 miles east of Leeds City Centre
Roads
A64 (M), M1 (Junction 46)
Rail
Leeds Rail & Cross Gates Rail
Air
Leeds Bradford Airport
Situation

The property is located 1.5 miles east of Leeds City Centre, occupying a prominent roadside location next to the A64, the main arterial route into Leeds. The site is is in a predominantly residential area with a number of similar retail warehouses located along the A64 including Lookers Ford Car Showroom and Nationwide Car Hire.

Tenure

Freehold.

Location
Miles
1.5 miles east of Leeds City Centre
Roads
A64 (M), M1 (Junction 46)
Rail
Leeds Rail & Cross Gates Rail
Air
Leeds Bradford Airport
Situation

The property is located 1.5 miles east of Leeds City Centre, occupying a prominent roadside location next to the A64, the main arterial route into Leeds. The site is is in a predominantly residential area with a number of similar retail warehouses located along the A64 including Lookers Ford Car Showroom and Nationwide Car Hire.

Tenure

Freehold.

Description

The property comprises a purpose built retail park currently arranged as three ground floor retail units and a cash point. The property benefits from parking for approximately 109 cars and large site area of approximately 0.82 hectares (2.04 acres) providing future development potential (subject to consents). To the rear of the property is a dedicated service yard.

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 purpose built retail park currently arranged as three ground floor retail units and a cash point. The property benefits from parking for approximately 109 cars and large site area of approximately 0.82 hectares (2.04 acres) providing future development potential (subject to consents). To the rear of the property is a dedicated service yard.

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
A Ground Retail 806.03 sq m (8,67 6 sq ft) ICELAND FOODS LIMITED (1) 35 years 19/07/1993 until
18/07/2028 (2)
£64,000 19/07/2018
19/07/2023
B Ground Retail 1,357 sq m (14,607 sq ft) B&M RETAIL LIMITED (3) (4) 15 years from 21 /04/2008
until 20/04/2023
£105,000 21/04/201 8
C, D & E Ground Retail 348.01 sq m (3,746 s q ft) ROMART SUPERSTORES LIMITED 6 years from 30/10/2012
until 3 0/10/2018
£25,750  
Sub Station - -       60 years from 01 /01/1994
until 3 1 /12/2053
£1  
Cash Point - -     VACANT POSSESSION      
TOTALS     2,511.04 sq m (27,029 sq ft)     £ 194,751  

(1) For the year ending March 2016, Iceland Foods Limited reported a turnover of £2,658,332,000, pre-tax profits of £58,172,000 and a total net worth of £740,354,000. (Source: Experian Group 13/09/2016)
(2) The current lease is for a term of 25 years expiring 18/07/2018, although in addition, a reversionary lease is in place from expiry of the current term until 18/07/2028. The tenant is currently benefiting from a concessionary rent of £32,000 expiring 28/09/2017. The seller has agreed to adjust the completion monies so that the unit will effectively be producing £64,000 per annum from completion of sale.
(3) For the year ending March 2016, B&M Retail Limited reported a turnover of £1,902,557,000, pre-tax profits of £168,121,000 and a total net worth of £440,372,000. (Source: Experian Group 13/09/2016)
(4) The lease is subject to a schedule of condition.

Property Documents

  • Site Plan
    Updated Date
    29.10.19
    File Size
    108 KB
    View PDF
  • Catalogue Page
    Updated Date
    29.10.19
    File Size
    2 MB
    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
Hamlins LLP Roxburghe House273-287 Regents Street
London
W1B 2AD
Joseph Holder 0207 355 6112joseph.holder@hamlins.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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