4 South Parade Wakefield West Yorkshire WF1 1LR

4 South Parade
Wakefield
West Yorkshire
WF1 1LR

Freehold Office Investment

  • Let to The Secretary of State for Communities and Local Government (occupied by Crown Prosecution Service National Accounting Team)
  • Recently completed new 5 year lease (extension) from September 2017
  • Tenant in occupation for approximately 25 years
  • Approximately 9,080 sq ft - in two connecting buildings
  • Close to Wakefield City Centre & Wakefield Westgate/Kirkgate Railway Stations
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    45
  • Auction
    30th March 2017
  • Rent
    £96,000 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
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* More information on the term "guide" can be found here

Freehold Office Investment

  • Let to The Secretary of State for Communities and Local Government (occupied by Crown Prosecution Service National Accounting Team)
  • Recently completed new 5 year lease (extension) from September 2017
  • Tenant in occupation for approximately 25 years
  • Approximately 9,080 sq ft - in two connecting buildings
  • Close to Wakefield City Centre & Wakefield Westgate/Kirkgate Railway Stations
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 45
  • Auction 30th March 2017
  • Rent
  • Status Sold Prior
  • Price  
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
10 miles south of Leeds, 24 miles north of Sheffield
Roads
A61, A642 M1 (Junction 40)
Rail
Wakefield Westgate (direct link to London Kings Cross) and Wakefield Kirkgate Railway Stations
Air
Leeds/Bradford Airport
Situation

The property is situated on the northern side of South Parade with a rear frontage to George Street, close to the City Centre. The property benefits from excellent rail communications with both Wakefield Westgate and Wakefield Kirkgate Railway Stations a short walk away. The Ridings Shopping Centre lies approximately 200m to the north housing occupiers including Marks & Spencer, Boots the Chemist, T K Maxx, Waterstones and Primark. Other nearby occupiers include NHS Wakefield District and Wakefield Job Centre Plus.

Tenure

Freehold.

Location
Miles
10 miles south of Leeds, 24 miles north of Sheffield
Roads
A61, A642 M1 (Junction 40)
Rail
Wakefield Westgate (direct link to London Kings Cross) and Wakefield Kirkgate Railway Stations
Air
Leeds/Bradford Airport
Situation

The property is situated on the northern side of South Parade with a rear frontage to George Street, close to the City Centre. The property benefits from excellent rail communications with both Wakefield Westgate and Wakefield Kirkgate Railway Stations a short walk away. The Ridings Shopping Centre lies approximately 200m to the north housing occupiers including Marks & Spencer, Boots the Chemist, T K Maxx, Waterstones and Primark. Other nearby occupiers include NHS Wakefield District and Wakefield Job Centre Plus.

Tenure

Freehold.

Description

The property comprises two office buildings which are fully interconnected by a fully enclosed passage. The front building is a Grade II listed traditional building arranged over four
floors. The main building is modern and arranged over three floors having access from both South Parade and George Street at first floor level. The property benefits from car parking for approximately 10 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 comprises two office buildings which are fully interconnected by a fully enclosed passage. The front building is a Grade II listed traditional building arranged over four
floors. The main building is modern and arranged over three floors having access from both South Parade and George Street at first floor level. The property benefits from car parking for approximately 10 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 Reversion
(South Parade)
Ground
Basement
First
Second
Third
(George Street)
Ground
First
Second

Offices
Basement
Offices
Offices
Ancillary

Offices
Offices
Offices

45.45 sq m
60.58 sq m
58.10 sq m
47.41 sq m
24.51 sq m

206.16 sq m
202.31 sq m
199.06 sq m

(489 sq ft)
(652 sq ft)
(625 sq ft)
(510 sq ft)
(264 sq ft)

(2,219 sq ft)
(2,178 sq ft)
(2,143 sq ft)
THE SECRETARY
OF STATE FOR
COMMUNITIES
AND LOCAL
GOVERNMENT

5 years from
29/09/2017 (1)
on a full
repairing and
insuring lease
£96,000 (2)
28/09/2022
Totals  
843.58 sq m
(9,080 sq ft)
    £96,000 (2)
 

(1) The current lease is for a term of 2 years from 29th September 2015 expiring on 28th September 2017. A reversionary lease has recently completed for a term of 5 years from 29th September 2017. The new lease provides for a tenant option to determine on 28th September 2020. If the tenant does not operate the break clause in 2020 then the tenant will benefit from a 3 month rent free period from 29th September 2020.
(2) The tenant will benefit from a rent free period of six months from 29th September 2017 until 28th March 2018. The seller has agreed to adjust the completion monies so that the property will effectively produce £96,000 per annum from completion of the sale until the end of the rent free period on 28th March 2018.

Property Documents

  • Catalogue Page
    Updated Date
    12.11.19
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    12.11.19
    File Size
    269 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

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Hethertons Solicitors Tudor Court, Opus Avenue, York Business Park
York
YO26 6RS
James Sweetzer 01904 528394js@hethertons.co.uk

Useful Links

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

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