Units 1 & 2 Otley Road Shipley West Yorkshire BD18 3SA

Units 1 & 2 Otley Road
Shipley
West Yorkshire
BD18 3SA

Modern Freehold Retail Investment

  • Unit 1 Let to Travis Perkins (Properties) Limited t/a Tile Giant until 2028 (subject to option)
  • Unit 2 Let to Salvation Army Trading Company Limited until 2029 (subject to option)
  • Prominent position fronting the busy A6038
  • Neighbouring occupiers include Subway, Santander, NatWest, Costa Coffee and Laura Ashley
  • Lot
    20
  • Auction
    12th February 2020
  • Rent
    £83,500 per Annum Exclusive
  • Status
    Sold Post
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Modern Freehold Retail Investment

  • Unit 1 Let to Travis Perkins (Properties) Limited t/a Tile Giant until 2028 (subject to option)
  • Unit 2 Let to Salvation Army Trading Company Limited until 2029 (subject to option)
  • Prominent position fronting the busy A6038
  • Neighbouring occupiers include Subway, Santander, NatWest, Costa Coffee and Laura Ashley
  • Lot 20
  • Auction 12th February 2020
  • Rent
  • Status Sold Post
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN

Property Information

Location
Miles
3 miles north of Bradford
13 miles north-west of Leeds
Roads
A6038, A650, M62
Rail
Shipley Railway Station
Air
Leeds Bradford Airport
Situation

Shipley is a popular suburb situated to the north of Bradford city centre and a popular Leeds commuter town. The property is prominently located on the east side of Otley Road (A6038), next to Shipley Railway Station. Neighbouring occupiers include Subway, Santander, NatWest, Costa Coffee and Laura Ashley.

Tenure

Freehold.

Location
Miles
3 miles north of Bradford
13 miles north-west of Leeds
Roads
A6038, A650, M62
Rail
Shipley Railway Station
Air
Leeds Bradford Airport
Situation

Shipley is a popular suburb situated to the north of Bradford city centre and a popular Leeds commuter town. The property is prominently located on the east side of Otley Road (A6038), next to Shipley Railway Station. Neighbouring occupiers include Subway, Santander, NatWest, Costa Coffee and Laura Ashley.

Tenure

Freehold.

Description

The property comprises two retail units on the ground floor and residential flats on the upper three floors that have been let on a long lease. The property benefits from parking for approximately 11 cars at the front of the property.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk

Description

The property comprises two retail units on the ground floor and residential flats on the upper three floors that have been let on a long lease. The property benefits from parking for approximately 11 cars at the front of the property.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/
(Reversion)
Unit 1 Ground Retail
341.88 sq m
(3,680 sq ft)
TRAVIS PERKINS
(PROPERTIES) LIMITED
t/a Tile Giant (1)
20 years from
13/05/2008 (2)
£40,000 13/05/2023
(12/05/2028)
Unit 2 Ground Retail
319.50 sq m
(3,439 sq ft)
SALVATION ARMY
TRADING COMPANY
LIMITED (3)
10 years from
04/12/2019 (4)
£43,500 (5) (04/12/2024)
(03/12/2029)
Aspect 88 First,
Second
and Third
20
Residential
Flats
Not measured
SP ASSETS LLP 999 years from
25/04/2018
Peppercorn (24/04/3017)
Total    
661.40 sq m
(7,119 sq ft)
    £83,500  

(1) As to Unit 1, for the year ending 31st December 2018, Travis Perkins (Properties) Limited (CRN00468024) reported a turnover of £92,200,000, pre-tax profits of £52,200,000 and a total net worth of £277,100,000 (Source: Experian group 16/01/2020).
(2) As to Unit 1 ,the lease provides for a tenant option to determine the lease on 12/05/2023.
(3) For the year ending 31st March 2019, Salvation Army Trading Company Limited (CRN 02605817) reported a turnover of £54,317,884, pre-tax profits of £6,753,953 and a total net worth of £13,740,647 and is rated as "Very Low Risk" (Souce Experian Group 16/01/2020). The Salvation Army has approximately 50,000 members and 4,000 employees in the UK and Republic of Ireland and is part of the wider International Salvation Army which operates in 127 countries (Source: www.salvationarmy.org.uk).
(4) As to Unit 2, the lease provides for a tenant option to determine the lease on 13/05/2024.
(5) As to Unit 2, the lease provides for a rent free period until 4th June 2020. The Seller will pay the Buyer a sum equivalent to the current rent reserved of £43,500 per annum exclusive from completion of the sale until the end of the rent free period on 4th June 2020. Therefore the unit will produce £43,500 per annum exclusive from completion of the sale.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Site Plan
    Updated Date
    22.01.20
    File Size
    626 KB
    View PDF
  • Catalogue Page
    Updated Date
    22.01.20
    File Size
    624 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Linder Myers Solicitors Sale Point, 126-150 Washway Road
Sale
Cheshire
M33 6AG
Yasar Kaushal 0161 828 2806yasar.kaushal@lindermyers.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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