Old School Calverley Street Leeds West Yorkshire LS1 3ED

  • Old School<br>Calverley Street<br>Leeds<br>West Yorkshire<br>LS1 3ED

Old School
Calverley Street
Leeds
West Yorkshire
LS1 3ED

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
Important Update
  • Expand
  • Photos
  • Map

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

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.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    20.09.23
    File Size
    190 MB
    Login to View
  • Brochure
    Updated Date
    29.11.23
    File Size
    4 MB
    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
Charlie PowterCharlie Powter +44 (0)20 7034 4853 +44 (0)7768 120 904charlie.powter@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Seller's Solicitors
Pinsent Masons LLP 3 Hardman Street
Manchester
M3 3AU
Sean Roach 0161 2348211Sean.Roach@pinsentmasons.com

Useful Links

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

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