Becketts Bank 28 - 30 Park Row Leeds West Yorkshire LS1 5HU

Becketts Bank
28 - 30 Park Row
Leeds
West Yorkshire
LS1 5HU

Freehold City Centre Public House Investment

  • Majority let to J D Wetherspoon plc until June 2040 (no breaks)- approximately 25 years term certain
  • Fixed rental increase in June 2020 and five yearly thereafter
  • J D Wetherspoon lease recently extended and tenant break option removed (without incentives given)
  • Approximately 928.25 sq m (9,992 sq ft)
  • Prominent city centre location close to Carluccio’s, All Bar One, Wagamama, Jamie’s Italian and Slug & Lettuce
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    11
  • Auction
    11th February 2016
  • Rent
    £165,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £2,852,000
  • Sector
    Public House
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Expand
  • Photos
  • Map

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

Freehold City Centre Public House Investment

  • Majority let to J D Wetherspoon plc until June 2040 (no breaks)- approximately 25 years term certain
  • Fixed rental increase in June 2020 and five yearly thereafter
  • J D Wetherspoon lease recently extended and tenant break option removed (without incentives given)
  • Approximately 928.25 sq m (9,992 sq ft)
  • Prominent city centre location close to Carluccio’s, All Bar One, Wagamama, Jamie’s Italian and Slug & Lettuce
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 11
  • Auction 11th February 2016
  • Rent
  • Status Sold
  • Price £2,852,000
  • Sector
    Public House
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
10 miles east of Bradford, 36 miles north of Sheffield
Roads
A58M, A64M, M1, M621
Rail
Leeds Railway Station
Air
Leeds Bradford Airport
Situation

The property is situated in a highly prominent location on the western side of Park Row, at it’s junction with Greek Street and Bedford Street, in the heart of Leeds City Centre. Trinity Leeds and Victoria Quarter Shopping Centres are both a short walk away as well as Leeds Kirkgate Market, housing occupiers including Apple, Marks & Spencer, River Island, Armani Exchange, Louis Vuitton and Vivienne Westwood. The immediate surrounding area houses occupiers including Carluccio’s, Piccolino, Wagamama, Gaucho, All Bar One and San Carlo and Jamie’s Italian Restaurants, as well as many of the City’s major banks.

Tenure

Freehold.

Location
Miles
10 miles east of Bradford, 36 miles north of Sheffield
Roads
A58M, A64M, M1, M621
Rail
Leeds Railway Station
Air
Leeds Bradford Airport
Situation

The property is situated in a highly prominent location on the western side of Park Row, at it’s junction with Greek Street and Bedford Street, in the heart of Leeds City Centre. Trinity Leeds and Victoria Quarter Shopping Centres are both a short walk away as well as Leeds Kirkgate Market, housing occupiers including Apple, Marks & Spencer, River Island, Armani Exchange, Louis Vuitton and Vivienne Westwood. The immediate surrounding area houses occupiers including Carluccio’s, Piccolino, Wagamama, Gaucho, All Bar One and San Carlo and Jamie’s Italian Restaurants, as well as many of the City’s major banks.

Tenure

Freehold.

Description

The property comprises a public house arranged on the ground and mezzanine floors with ancillary accommodation at basement level. In addition there are 23 residential apartments (let on a long lease) on the first to fourth floors.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

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 public house arranged on the ground and mezzanine floors with ancillary accommodation at basement level. In addition there are 23 residential apartments (let on a long lease) on the first to fourth floors.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

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 Fixed Rental Uplifts
Ground
Mezzanine
Part Basement
Public House/Ancillary
Public House/Ancillary
Cellar/Ancillary
413.99 sq m
161.13 sq m
353.21 sq m
(4,456 sq ft)
(1,734 sq ft)
(3,802 sq ft)
J D
WETHERSPOON
PLC (1)
40 years from
05/06/2000 until
04/06/2040 (2) (3)
£165,000
rising to £173,250 (June 2020)
rising to £181,913 (June 2025)
rising to £191,008 (June 2030)
rising to £200,559 (June 2035)
05/06/2020
and five
yearly
thereafter
First, Second,
Third and Fourth
23 Residential
Apartments
-
M. DROGAN
M.S. RUSSELL
C. DROGAN
(THE MMC
PARTNERSHIP)
999 years from
24/02/2004
Peppercorn
Total Commercial Area  
928.25 sq m
(9,992 sq ft)
    £165,000

(1) For the year ending 26th July 2015 J D Wetherspoon plc reported a turnover of £1,513,923,000, pre-tax profits of £58,732,000 and a total net worth of £192,896,000. (Source: Experian Group 07/01/2016).
(2) The property was originally let to J D Wetherspoon plc for a term of 35 years from 5th June 2000, subject to a tenant only break option in June 2025. By way of a Reversionary Lease dated 15/12/2015, the lease was extended for a further five years until 04/06/2040.
(3) By way of a Deed of Variation dated 15/12/2015, the tenant’s option to determine the lease on the expiry of the 25th year of the term was removed (without incentives given) and fixed rental increases were agreed in 2015 and 5 yearly thereafter.

Property Documents

  • Site Plan
    Updated Date
    20.01.16
    File Size
    115 KB
    View PDF
  • Catalogue Page
    Updated Date
    20.01.16
    File Size
    1 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

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Shulmans LLP 10 Wellington Place
Leeds
LS1 4AP
Kieran Wilkinson 0113 2452833kwilkinson@shulmans.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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