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.
