22, 23, 26 & 27 The Springs Wakefield West Yorkshire WF1 1ED

  • 22, 23, 26 & 27 The Springs<br>Wakefield<br>West Yorkshire<br>WF1 1ED

22, 23, 26 & 27 The Springs
Wakefield
West Yorkshire
WF1 1ED

City Centre Retail Parade Investment

  • Comprises an unbroken parade of 5 retail units
  • Located a short distance from The Ridings Shopping Centre and All Saints Walk Shopping Centre
  • Nearby occupiers include Iceland, Betfred, Age UK, Cash Generator and Nationwide Building Society
  • Lot
    87
  • Auction
    11th July 2018
  • Rent
    £38,100 per Annum Exclusive
  • Status
    Sold Post
  • Price
     
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of a Major Fund Manager
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City Centre Retail Parade Investment

  • Comprises an unbroken parade of 5 retail units
  • Located a short distance from The Ridings Shopping Centre and All Saints Walk Shopping Centre
  • Nearby occupiers include Iceland, Betfred, Age UK, Cash Generator and Nationwide Building Society
  • Lot 87
  • Auction 11th July 2018
  • Rent £38,100 per Annum Exclusive
  • Status Sold Post
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of a Major Fund Manager

Property Information

Location
Miles
6 miles east of Dewsbury
9 miles south of Leeds
Roads
A638, A642, M1, M62
Rail
Wakefield Westgate Rail
Air
Leeds Bradford Airport
Situation

Wakefield is a popular city located in West Yorkshire. The property is located on The Springs, close to its junction with Vicarage Street and Lower Warringate and runs parallel with the prime retailing pitch of Kirkgate. Both the Ridings Shopping Centre and All Saints Walk are located a short distance away. Nearby occupiers include Iceland, Betfred, Age UK, Cash Generator and Nationwide Building Society.

Tenure

Long Leasehold. Held from PDR Construction Ltd for a term of 250 years from 10/11/2006 until 09/11/2256 at a peppercorn rent.

Location
Miles
6 miles east of Dewsbury
9 miles south of Leeds
Roads
A638, A642, M1, M62
Rail
Wakefield Westgate Rail
Air
Leeds Bradford Airport
Situation

Wakefield is a popular city located in West Yorkshire. The property is located on The Springs, close to its junction with Vicarage Street and Lower Warringate and runs parallel with the prime retailing pitch of Kirkgate. Both the Ridings Shopping Centre and All Saints Walk are located a short distance away. Nearby occupiers include Iceland, Betfred, Age UK, Cash Generator and Nationwide Building Society.

Tenure

Long Leasehold. Held from PDR Construction Ltd for a term of 250 years from 10/11/2006 until 09/11/2256 at a peppercorn rent.

Description

The property comprises five ground floor retail units forming an unbroken retail parade. The property benefits from a shared service road to the rear accessed off Vicarage Road.

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 five ground floor retail units forming an unbroken retail parade. The property benefits from a shared service road to the rear accessed off Vicarage Road.

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

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x. Reviews/
(Reversion)
22 Ground Retail
50.90 sq m
(547 sq ft)
 INDIVIDUAL t/a Ed
Mobile Traders		 6 years from
15/06/2016 (1)		 £7,000 (14/06/2022)
23 Ground Retail
62.50 sq m
(672 sq ft)
 INDIVIDUAL
t/a Best Cutz Hair 		10 years from
11/11/2015		 £6,600 11/11/2020
(10/11/2025)
24-25 Ground Retail
121.40 sq m
(1,306 sq ft)
INDIVIDUALS
t/a JR Morton
Opticians 		125 years from
22/03/2002		 £100 22/03/2027 and
25 yearly (2)
(21/03/2127)
26 Ground Retail
62.00 sq m
(667 sq ft)
 INDIVIDUAL
t/a Berlina Baker 		3 years from
21/02/2018 (3)		 £9,900 (20/02/2021)
27 Ground Retail
76.10 sq m
(819 sq ft)
 INDIVIDUAL
t/a Wisla Market
Grocer		 15 years from
26/10/2006		 £14,500 26/10/2018
(25/10/2021)
Total
372.90 sq m
(4,011 sq ft)     £38,100  

(1) The tenant did NOT exercise an option to determine in December 2017. The lease provides an option to determine on 15/06/2019 and every 18 months thereafter
(2) The lease of unit 24-25 provides fixed rental increases to £200 pa in 22/03/2027, £300 pa in 22/03/2052, £400 pa in 22/03/2077 and £500 pa in 22/03/2102.
(3) The lease of unit 26 provides an option to determine on 21/02/2019.

Contacts

Seller's Solicitors
Eversheds 1 Callaghan Square
Cardiff
CF10 5BT
Alexandra Shapland 0292 047 7210AlexShapland2@eversheds.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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