15 Commercial Street
Leeds
West Yorkshire
LS1 6AL

Freehold City Centre Retail Investment

  • Let to Trespass Europe Limited until March 2028 (subject to option)
  • Prime pedestrianised retailing thoroughfare in city centre
  • Opposite entrance to Trinity Leeds, the city’s premier shopping centre
  • Nearby occupiers include Halifax Bank, Monsoon, Clarks, Paperchase, Lush and Itsu
  • Lot
    33
  • Auction
    11/Jul/2018
  • Rent
    £150,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £1,750,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Aviva
  • 15 Commercial Street<br>Leeds<br>West Yorkshire<br>LS1 6AL
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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 located on the northern side of the pedestrianised Commercial Street, one of Leeds’ primary retailing thoroughfares.

Tenure

Freehold.

Description

The property comprises a four storey retail unit with retail accommodation on the ground and first floors and ancillary accommodation on second floor and basement.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

Tenancy & Accomodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview/
(Reversion)
Ground
First
Basement
Second
Retail/Ancillary
Retail/Ancillary
Ancillary
Ancillary
107.49 sq m
102.75 sq m
97.92 sq m
74.60 sq m
(1,157 sq ft)
(1,106 sq ft)
(1,054 sq ft)
(803 sq ft)
TRESPASS
EUROPE LIMITED
(1)
10 years from
03/03/2018 on a
full repairing and
insuring lease (2)
£150,000 (3)03/03/2023
(02/03/2028)
Total
382.76 sq m
(4,120 sq ft)
  £150,000 (3) 

(1) First established in 1938, Trespass is one of the UK’s most successful outdoor clothing retailers. They currently have over 230 stores across the UK and in mainland Europe, as well as a network of wholesale clients across the world and a thriving e-commerce website (Source: www.trespass.com 13/06/2018). Trespass Europe Ltd is a subsidiary of Jacobs & Turner Ltd who for the year ending 25th June 2017 reported a turnover of £99,430,896, pre tax profits of £4,181,599 and a total net worth of £50,508,351 (Source: Experian Group 18/06.2018).
(2) The lease is subject to a tenant’s option to determine on 03/03/2023.
(3) For the purpose of clarification, the tenant is currently benefitting from a rent free period due to expire on 3rd September 2018. The rent will then be £130,000 p.a. due to increase annually by £5,000 p.a. until reaching £150,000 p.a. in March 2022. The Seller has agreed to adjust the completion monies so that the unit effectively produces £150,000 from completion of the sale.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    05.07.18
    File Size
    54 MB
    Login to View
  • Catalogue Page
    Updated Date
    19.06.18
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    19.06.18
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Gwen ThomasGwen Thomas +44 (0)20 7034 4857 +44 (0)7809 363549gwen.thomas@acuitus.co.uk
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863georgina.roberts@acuitus.co.uk
Seller's Solicitors
DLA Piper UK LLP 3 Noble Street
London
EC2V 7EE
Nicholas Haringman 020 7153 7043 nicholas.haringman@dlapiper.com

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