Let to The Secretary of State for Communities and Local Government on a renewed lease until 2027 (no breaks)
Substantial building approximately 1,949 sq m (20,979 sq ft)
Prominent town centre location 100 metres from central bus station
Long term residential redevelopment potential (subject to consents)
Nearby occupiers include the main Post Office, Sainsbury’s, Argos, Greggs, Lloyds Pharmacy and Fultons Foods
Lot 33
Auction 5th December 2018
Rent £121,800 per Annum Exclusive
Status Sold
Price £1,700,000
Sector Office
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
7 miles west of Leeds
5 miles east of Bradford
Roads
B6154, A6110, M621, M62
Rail
New Pudsey Railway Station
Air
Leeds Bradford Airport
Situation
Pudsey is located 7 miles west of Leeds and 5 miles east of Bradford. The property is prominently situated in a corner position at the junction of Church Lane and Lower Tofts Road. Neighbouring occupiers include the main Post Office, Sainsbury’s, Argos, Greggs, Lloyds Pharmacy and Fultons Foods.
Tenure
Freehold.
Location
Miles
7 miles west of Leeds
5 miles east of Bradford
Roads
B6154, A6110, M621, M62
Rail
New Pudsey Railway Station
Air
Leeds Bradford Airport
Situation
Pudsey is located 7 miles west of Leeds and 5 miles east of Bradford. The property is prominently situated in a corner position at the junction of Church Lane and Lower Tofts Road. Neighbouring occupiers include the main Post Office, Sainsbury’s, Argos, Greggs, Lloyds Pharmacy and Fultons Foods.
Tenure
Freehold.
Description
The property comprises a substantial office building comprising open plan office accommodation arranged on the ground, first, second and third floors. The property benefits from a rear car park accommodating some 30 cars. The property may be suitable for long term residential redevelopment (subject to consent).
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band E. See legal pack at acuitus.co.uk
Description
The property comprises a substantial office building comprising open plan office accommodation arranged on the ground, first, second and third floors. The property benefits from a rear car park accommodating some 30 cars. The property may be suitable for long term residential redevelopment (subject to consent).
THE SECRETARY OF STATE FOR COMMUNITIES AND LOCAL GOVERNMENT t/a Job Centre Plus
From 01/04/2018 until 31/03/2027 on a full repairing and insuring lease (1)
£121,800 (2)
31/03/2023
Total
1,949 sq m
(20,979 sq ft)
£121,800 (2)
(1) The Lease is on full repairing and insuring terms subject to an arrangement during the period where the Government or a Government Department is the tenant where generally the Government will be self-insuring i.e. there is no requirement for the tenant to insure and no entitlement for the landlord to insure. Where those circumstances apply the Government Department assumes the risk of reinstatement as set out in Schedule 9 of the lease. (2) The lease provides for a rent free period from 1st April 2018 until 1st January 2020. The seller will pay the buyer monies equivalent to £121,800 per annum exclusive from completion of the sale until the end of the rent free period. Therefore the property will produce £121,800 per annum exclusive from the completion of the sale.
