Prime Grade II Listed Freehold Office and Leisure Investment
Historic Grade II Listed Office and Leisure Opportunity
Prime Leeds location opposite Leeds Town Hall, Leeds Central Library and Leeds City Art Gallery
Opened in 1881 as the Leeds School Board
Undergone a major refurbishment
Approximately 1,933.57 sq. m. (20,812 sq. ft.) over Ground, Basement, First, and Second Floors
Opportunity to enhance income with Active Asset Management
Nearby occupiers include Marks & Spencer, Tesco Express, Morrisons, Bill's, Flight Club and JD Wetherspoon
Lot 16
Auction 21st September 2023
Rent £444,459 per Annum
Status Available
Guide* Contact Us
Sector Office
Auction Venue Live Streamed Auction
Property Information
Location
Miles
15 miles south Harrogate, 26 miles south-west of York
Roads
A58, A61, A68, M1, M62, M621
Rail
Leeds Train Station
Air
Leeds Bradford Airport
Situation
The property is situated at the heart of Leeds City Centre, being prominently located at the junction of Calverley Street and Great George Street. The property boasts excellent communication links being within close proximity to A58 and A61 as well as Leeds Train Station. The location is adjacent to Millennium Square and the main retail and leisure core of Leeds City Centre as well as the major Leeds General Infirmary Hospital some 100 metres (110 yards) to the north. Nearby occupiers include Marks & Spencer, Tesco Express, Morrisons, Bill's, Flight Club and JD Wetherspoon.
Tenure
Freehold. In addition, the 8 car parking spaces are held leasehold for a term of 10 years from 6/07/2016 at a pay away rent of £14,400 p.a.x.
Location
Miles
15 miles south Harrogate, 26 miles south-west of York
Roads
A58, A61, A68, M1, M62, M621
Rail
Leeds Train Station
Air
Leeds Bradford Airport
Situation
The property is situated at the heart of Leeds City Centre, being prominently located at the junction of Calverley Street and Great George Street. The property boasts excellent communication links being within close proximity to A58 and A61 as well as Leeds Train Station. The location is adjacent to Millennium Square and the main retail and leisure core of Leeds City Centre as well as the major Leeds General Infirmary Hospital some 100 metres (110 yards) to the north. Nearby occupiers include Marks & Spencer, Tesco Express, Morrisons, Bill's, Flight Club and JD Wetherspoon.
Tenure
Freehold. In addition, the 8 car parking spaces are held leasehold for a term of 10 years from 6/07/2016 at a pay away rent of £14,400 p.a.x.
Description
The property, a highly attractive Grade II listed building, primarily comprises office accommodation arranged over the ground, first and second floors with a self-contained bar at basement level. The property has undergone a major refurbishment to provide floor to ceiling heights ranging from 3.8 to 5.8 metres, period features throughout, new AC system, raised floors with 200mm void, secure cycle parking, fibre internet supply and two passenger lifts.
The sale also includes 8 car parking spaces which are held on a separate leasehold title.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
See Legal Pack
Description
The property, a highly attractive Grade II listed building, primarily comprises office accommodation arranged over the ground, first and second floors with a self-contained bar at basement level. The property has undergone a major refurbishment to provide floor to ceiling heights ranging from 3.8 to 5.8 metres, period features throughout, new AC system, raised floors with 200mm void, secure cycle parking, fibre internet supply and two passenger lifts.
The sale also includes 8 car parking spaces which are held on a separate leasehold title.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
See Legal Pack
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Lower Ground
Pub/Bar/Ancillary
545.99
(5,877)
To be brewery/bar operator
New 10 year lease (1)
£70,000 (1)
Ground
Office
391.04
(4,209)
SHIFT COMMERCE LIMITED (2)
A term of years from 24/10/2018 until 23/11/2023
£101,784
First
Office
535.96
(5,769)
VACANT POSSESSION
12 month rental guarantee (3)
£144,225 (3)
Second
Office
460.58
(4,957)
ARBOR EDUCATION PARTNERS LIMITED (4)
5 years from 11/02/2020 until 10/02/2025
£122,450
3 Car Parking Spaces
-
-
-
SHIFT COMMERCE LIMITED (2)
5 years from 24/10/2018 until 23/10/2023
£6,000
5 Car Parking Spaces
-
-
-
VACANT
-
Total Approximate Floor Area
1,933.57
(20,812) (5)
£444,459
(1) A lease has been agreed with a brewery to operate a bar from the basement floor. It is anticipated that the lease will be completed prior to the auction. The lease provides for a 12 month rent free period, the Seller will pay to the Buyer the rent that would have been due from completion of the sale until the end of the rent free period. (2) Shift Commerce is a market-leading eCommerce platform, building marketplace strategies (www.shiftcommerce.com). (3) As to the vacant first floor office, the Seller will provide a rental guarantee of £144,225 per annum and for this floor, cover any shortfall in service charge and rates for the period of 12 months from completion of the sale. (4) Arbor Education provide Management Information Systems to over 4,300 schools, helping them work more easily and collaboratively (www.arbor-education.com). (5) The ground, first and second floor areas are those published by the Valuation Office Agency (www.voa.gov.uk).
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.
