32/32a Kirkgate & 1 Piccadilly Bradford West Yorkshire BD1 1QN

32/32a Kirkgate & 1 Piccadilly
Bradford
West Yorkshire
BD1 1QN

Freehold Retail Investment with Residential Potential

Tenants include Age Concern (Bradford & District) and RSPCA (Bradford & District Branch)
Comprises 3 retail units with Residential Redevelopment Potential of vacant upper floors - no empty rates (subject to consents)
Prominent corner position in City Centre some 50m from Kirkgate and 100m from the Major New 82 unit Broadway (Westfield) Shopping Centres
Nearby occupiers include Superdrug, Waterstones, McDonalds and Primark
Currently producing £29,000 p.a.x. with Vacant Upper Parts
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
85
Auction
19th May 2016
Rent
£29,000 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment with Residential Potential

Tenants include Age Concern (Bradford & District) and RSPCA (Bradford & District Branch)
Comprises 3 retail units with Residential Redevelopment Potential of vacant upper floors - no empty rates (subject to consents)
Prominent corner position in City Centre some 50m from Kirkgate and 100m from the Major New 82 unit Broadway (Westfield) Shopping Centres
Nearby occupiers include Superdrug, Waterstones, McDonalds and Primark
Currently producing £29,000 p.a.x. with Vacant Upper Parts
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 85
Auction 19th May 2016
Rent £29,000 per Annum Exclusive
Status Sold Post
Price
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 9 miles west of Leeds, 38 miles north-east of Manchester
Roads: A650, A658, M606
Rail: Bradford Forster Square Railway Station
Air: Leeds Bradford Airport

Situation

The property is situated in a prominent corner location on the north side of pedestrianised Kirgate and at its junction with Piccadilly in Bradford City Centre. The property is prominently situated on the pedestrian route between the Kirkgate Shopping centre (50m west) and the major new Broadway Shopping Centre (100m east). Nearby occupiers include Superdrug, Waterstones, McDonalds and Primark.

Tenure

Freehold.

Location

Miles: 9 miles west of Leeds, 38 miles north-east of Manchester
Roads: A650, A658, M606
Rail: Bradford Forster Square Railway Station
Air: Leeds Bradford Airport

Situation

Tenure

Freehold.

Description

The property, a Grade II Listed building, comprises 3 ground floor retail units with former self-contained office accommodation on the first to third floors, accessed from Piccadilly. The upper floors may be suitable for alternative uses including residential redevelopment, subject to consents.

Planning
Plans for an indicative residential scheme to convert the upper floors to 14 apartments are available in the legal pack (subject to consents). We understand that the property is situated within the Bradford City Centre Growth Zone, an initiative set up to support business growth by providing a range of incentives. Please see http://www.investinbradford.com for further details. We understand that the property is also located in a Business Premises Renovation Allowance (BPRA) Zone which provides an initial allowance of 100% of expenditure for converting or renovating qualifying premises.
Please see HM Government website http://www.gov.uk/guidance/business-premises-renovation-allowancebpra for more details.

Six Week Completion

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit No.	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
32 Kirkgate	Ground Basement	Retail Ancillary	89.91 sq m 62.22 sq m	(968 sq ft) (670 sq ft)	AGE CONCERN (BRADFORD & DISTRICT) (1) (2)	10 years from 13/05/2010	£20,000	13/05/2015 (3) (12/05/2020)
1 Piccadilly	Ground Basement	Retail Ancillary	47.60 sq m 36.10 sq m	(512 sq ft) (389 sq ft)	RSPCA (BRADFORD & DISTRICT BRANCH) (5)	10 years from 01/02/2008 (5)	£9,000	(31/01/2018)
3 Piccadilly	Ground Basement	Medical Ancillary	138.31 sq m 158.21 sq m	(1,489 sq ft) (1,703 sq ft)	DR A KOHLI	150 years from 01/01/2011	Peppercorn
Upper Floors	First Second Third	Former Office Former Office Ancillary	253.01 sq m 260.22 sq m 105.15 sq m	(2,723 sq ft) (2,801 sq ft) (1,132 sq ft)	VACANT POSSESSION
Totals			528.83 sq m	(5,692 sq ft)			£29,000

(1) In 2009, Age Concern England and Help the Aged merged and are now known as Age UK. For the year ending 31st March 2015, Age UK reported pre-tax profits of £2,074,000 and a total net worth of £29,719,000. (Source: www.riskdisk.com 11/04/2016).
(2) The lease is outside the Security of Tenure Provision of the Landlord & Tenant Act 1954.
(3) The seller has served a notice in respect of the May 2015 Rent Review proposing a new rent of £35,000 p.a.x.
(4) The RSPCA was founded in 1824 and operates from some 215 shops. (Source: www.rspcs.org.uk).
(5) The RSPCA has registered an interest in retaining a presence at the property beyond the end of their lease in 2018.