Includes recently renewed 10 year lease to Fawcett Stationers (no breaks) - Tenant in occupation for 20 years
Includes 2,590 sq ft self-contained dance studio on first floor
Central town centre location with nearby occupiers including Superdrug, Greggs, Boots the Chemist, and Wilko
VAT-free investment
Lot 49
Auction 11th July 2019
Rent £53,500 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
Property Information
Location
Miles
4 miles south-east of Halifax
16 miles south-west of Leeds
Roads
A58, A644, M62 (J25)
Rail
Brighouse Station
Air
Leeds Bradford International
Situation
Brighouse is located in the Borough of Calderdale in West Yorkshire, 16 miles south-west of Leeds. The property is located on the south side of Commercial Street, in a prominent central corner location at its junction with Park Street. Nearby occupiers include Superdrug, Greggs, Boots the Chemist and Wilko.
Tenure
Freehold.
Location
Miles
4 miles south-east of Halifax
16 miles south-west of Leeds
Roads
A58, A644, M62 (J25)
Rail
Brighouse Station
Air
Leeds Bradford International
Situation
Brighouse is located in the Borough of Calderdale in West Yorkshire, 16 miles south-west of Leeds. The property is located on the south side of Commercial Street, in a prominent central corner location at its junction with Park Street. Nearby occupiers include Superdrug, Greggs, Boots the Chemist and Wilko.
Tenure
Freehold.
Description
The property comprises a mixed use, two storey building with two ground floor shops and a self-contained dance studio arranged over the first floor.
VAT
VAT is not applicable to this lot.
EPC
Bands D and G. Available from the legal pack at acuitus.co.uk.
Description
The property comprises a mixed use, two storey building with two ground floor shops and a self-contained dance studio arranged over the first floor.
VAT
VAT is not applicable to this lot.
EPC
Bands D and G. Available from the legal pack at acuitus.co.uk.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Ground
Retail/Ancillary
146.16 sq m
(1,573 sq ft)
CORAL RACING LIMITED (1)
10 years from 01/05/2013 until 30/04/2023
£27,500
Ground
Retail/Ancillary
99.21 sq m
(1,068 sq ft)
FAWCETT CARDS & GIFTS LIMITED (2)
10 years from 25/03/2019 until 24/03/2029 with a rent review on 25/03/2024
£17,500 (3)
First
Dance Studio
240.63 sq m
(2,590 sq ft)
CAMILLE ZOE MARTIN t/a Now Music Dance Studio (4)
10 years from 25/12/2016 until 24/12/2026 (5) with a rent review on 25/12/2020 and 25/12/2024
£8,500
Total
486.00 sq m
(5,231 sq ft)
£53,500
(1) For the year ending 31st December 2017, Coral Racing Limited reported a turnover of £598,371,000, pre-tax profits of £7,642,000 and a total net worth of £75,914,000 (Source: Experian Group 29/05/2019). (2) Fawcett Cards & Gifts was incorporated in 1987 and has been trading at this location for at least 20 years. (3) The tenant benefits from a concessionary rental period, paying half rent for 12 months from term commencement. The seller has agreed to adjust the completion monies so the shop will effectively produce £17,500 p.a.x. from completion of the sale until the expiry of the concessionary rental period. (4) The tenant has been in occupation since February 2007. The landlord holds a rent deposit of £1,500. (5) The lease is subject to a tenant option to determine on 24/12/2021.
