Freehold Bank on a New 5 year lease & Retail Investment
Prominent Bank & Retail unit
Part let to Santander UK PLC on a new 5 year lease (NO Breaks)
Bank lease renewal from 25th December 2020
VAT-free Investment
Lot 48
Auction 16th June 2021
Rent £36,200 per Annum Exclusive
Status Sold
Price £362,000
Sector Bank
Auction Venue Live Streamed Auction
On Instructions of a Major Property Company
Property Information
Location
Miles
4 miles east of Leeds city centre
10 miles southwest of Wetherby
Roads
A6120, A64, M1
Rail
Leeds Railway
Air
Leeds Bradford Airport
Situation
Cross Gates is a predomiately residential suburb, 4 miles east of Leeds City Centre, 10 miles south of Wetherby and 2 miles north of the M1. The property is located in the town centre on Station Road close to its junction with Cross Gates Road and near to Cross Gates Shopping centre. Occupiers nearby include NatWest, Lloyds and a number of local retailers.
Tenure
Freehold.
Location
Miles
4 miles east of Leeds city centre
10 miles southwest of Wetherby
Roads
A6120, A64, M1
Rail
Leeds Railway
Air
Leeds Bradford Airport
Situation
Cross Gates is a predomiately residential suburb, 4 miles east of Leeds City Centre, 10 miles south of Wetherby and 2 miles north of the M1. The property is located in the town centre on Station Road close to its junction with Cross Gates Road and near to Cross Gates Shopping centre. Occupiers nearby include NatWest, Lloyds and a number of local retailers.
Tenure
Freehold.
Description
The property comprises two units, a ground floor bank with first floor ancillary accommodation together with a ground floor shop. The property benefits from a rear yard.
VAT
VAT is not applicable to this lot.
Planning
The property may benefit from future redevelopment for a variety of uses, subject to all necessary consents/permissions and current tenancy. Interested Parties are referred to www.leeds.gov.uk
Viewings
There will be no internal viewings of the property due to Covid-19.
Completion Period
Six Week Completion
EPC
See legal pack at www.acuitus.co.uk
Description
The property comprises two units, a ground floor bank with first floor ancillary accommodation together with a ground floor shop. The property benefits from a rear yard.
VAT
VAT is not applicable to this lot.
Planning
The property may benefit from future redevelopment for a variety of uses, subject to all necessary consents/permissions and current tenancy. Interested Parties are referred to www.leeds.gov.uk
Viewings
There will be no internal viewings of the property due to Covid-19.
Completion Period
Six Week Completion
EPC
See legal pack at www.acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
No.61. Ground No.61. First
Banking Ancillary
93.51 sq m 108.75 sq m
(1,006 sq ft) (1,170 sq ft)
SANTANDER UK PLC (1) (2)
5 years from 25/12/2020
£22,200
(24/12/2025)
No.59. Ground
Retail
61.90 sq m
(665 sq ft)
INDIVIDUAL t/a Clearance Outlet
Tenancy at Will
£14,000
Total
264.16 sq m
(2,843 sq ft)
£36,200
(1) For the year ending 31st December 2019, Santander UK PLC reported a turnover of £7,224,000,000, a pre-tax profit of £1,012,000,000 and shareholders funds of £15,857,000,000 (Source: NorthRow 19/01/2021). (2) Please note this branch is on Santander's bank closure list announced on 26 March 2021.
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.
