Prominent trading location just north of the main pedestrianised town centre retail area
Nearby occupiers include Poundland, Wilko and Iceland with other occupiers in the town including Marks & Spencer Simply Food and Tesco Superstore
High Yielding on Guide Price
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 59
Auction 13th October 2016
Rent
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
9 miles east of Wakefield, 14 miles south-east of Leeds
Roads
A1(M) (Junction 41), M6 (Junctions 32 and 33)
Rail
Pontefract Baghill Railway Station
Air
Leeds International Airport
Situation
The property is situated in a prominent trading location on the southern side of Horsefair, at the edge of the town's pedestrianised retail area which includes Market Place and Beastfair. Nearby occupiers include Poundland, Wilko and Iceland with other occupiers in the town including Marks & Spencer Simply Food, Argos, Tesco Superstore, New Look and branches of Santander, Barclays and Nationwide Banks.
Tenure
Virtual Freehold. To be held for a term of 999 years from completion at a peppercorn rent.
Location
Miles
9 miles east of Wakefield, 14 miles south-east of Leeds
Roads
A1(M) (Junction 41), M6 (Junctions 32 and 33)
Rail
Pontefract Baghill Railway Station
Air
Leeds International Airport
Situation
The property is situated in a prominent trading location on the southern side of Horsefair, at the edge of the town's pedestrianised retail area which includes Market Place and Beastfair. Nearby occupiers include Poundland, Wilko and Iceland with other occupiers in the town including Marks & Spencer Simply Food, Argos, Tesco Superstore, New Look and branches of Santander, Barclays and Nationwide Banks.
Tenure
Virtual Freehold. To be held for a term of 999 years from completion at a peppercorn rent.
Description
The property comprises an unbroken retail parade comprising five shops and a solicitor’s office arranged on the ground floor and mezzanine, forming part of a larger building.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Competion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises an unbroken retail parade comprising five shops and a solicitor’s office arranged on the ground floor and mezzanine, forming part of a larger building.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Competion
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)
1
Ground
Retail/Ancillary
61.19 sq m
(659 sq ft)
D.J. STUART (t/a Debonair Hair Design)
5 years from 01/04/2016 (1)
£5,000
(31/03/2021)
2
Ground
Retail/Ancillary
58.00 sq m
(624 sq ft)
K. KANIA (t/a Polish Shop)
3 years from 10/08/2015
£6,000
(09/08/2018)
3
Ground
Retail/Ancillary
72.50 sq m
(780 sq ft)
O. MARCHANT (t/a Horsefair Washeteria)
3 years from 01/03/2016
£3,300
(28/02/2019)
4
Ground
Solicitors Office
75.25 sq m
(810 sq ft)
WRIGHT & CO (PONTEFRACT) LIMITED (t/a Wright & Co Solicitors)
6 years from 07/08/2015 (2)
£12,500
07/08/2018 (06/08/2021)
6
Ground
Retail/Ancillary
151.70 sq m
(1,633 sq ft)
RACEHEART LIMITED (t/a Cash Generator) (3)
10 years from 04/11/2011 (4)
£16,500
04/11/2016 (03/11/2021)
Kiosk Café
Ground Mezzanine Ground
Retail/Ancillary Retail/Ancillary Café/Ancillary
80.00 sq m 55.55 sq m 42.48 sq m
(861 sq ft) (598 sq ft) (457 sq ft)
M.S. AMEER (t/a Kiosk Newsagent and Frangie’s Café)
10 years from 17/12/2009
£21,500
16/12/2019 (17/12/2019)
Totals
596.67 sq m
(6,422 sq ft)
£64,800
(1) The lease provides for a tenant only break option on 1st April 2019. (2) The lease provides for a tenant only break option on 7th August 2018. The tenant will receive a 3 month rent-free period if they do not exercise their break option. (3) For the year ending 31st March 2016, Raceheart Limited reported a total net worth of £876,080. Cash Generator trade from over 100 shops nationwide (Sources: Experian Group and www.cashgenerator.co.uk 12/09/2016). (4) The lease provides for a tenant only break option on 4th November 2017. If the tenant does not exercise their break option it will pay a reduced rent of £12,375 per annum from 4th November 2017 until 4th November 2018.