Property Information
Address:
39/40 Commercial Street, LEEDS
, LS1 6EX
Price: Property no longer available.
Size: 2290000 sq ft212747 sqm
Primary Category: Shop
All Categories:
Shop,
Property Ref/Movehut: MH470019
Property Ref/Agent: LEEDS 39/40 Commercial street, LS1 6EX
*Please use the agent ref when calling the agent directly.
Property description
INVESTMENT SUMMARY
Leeds is one of the uK??s premier retail destinations, with a primary catchment population of 1.48m, ranking 3rd of the PRoMIS Centres.
Leeds shopping population is forecast to increase by 11% over the 2008/2018 period ?? well ahead of average predicted growth for Major Retail Centres.
Freehold retail investment on the pedestrianised Commercial Street, one of the Leeds?? principal retailing thoroughfares, adjacent to trinity Leeds.
The property is situated extremely close to the principal entrance into trinity Leeds, the 1m sq ft premier shopping centre in Leeds that has been recently developed by Land Securities.
Attractive period building providing generally well configured retail accommodation.
Well let to the strong covenants of Scribbler Holdings Ltd until September 2020 and thorntons Plc until January 2019
Freehold
Total Current Income: ?203,000 per annum
Price: ?2,800,000 (Subject to contract & exclusive of VAT)
Net Initialyield: 6.85%
LOCATION
The City of Leeds is one of the uK??s most important retail and commercial centres, being strategically located in the centre of the country. The city is located 27 miles south west of york, 44 miles north east of Manchester and 196 miles north of London.
DESCRIPTION
The property comprises An extremely attractive period building providing generally well configured retail accommodation. The front elevation has fully glazed retail frontages at ground floor
level with rendered brick elevations on the upper floors. The accommodation is currently arranged to provide retail sales accommodation at ground floor level, with ancillary accommodation over basement, first, second and third floors.
SITUATION
The subject property occupies a prominent trading position on Commercial Street, the pedestrianised thoroughfare that links the major office area within Leeds to the retail core. The property is also situated in very close proximity to the principal entrance into Trinity Leeds. As such, the subject property benefits from extremely high levels of footfall. Retailers with representation on Commercial Street include Monsoon, Paperchase, Lush, goldsmiths and Clarks, as well as a soon to be opened Itsu (adjacent to the subject property). There are also a number of high end jewellers in close proximity including Beaverbooks (adjacent to the subject property) and Berry??s Jewellers, selling brands such aso mega, tag Heuer and Breitling, as well as a standalone Rolex boutique store.
VAT
We understand that the property is elected for VAT. It is anticipated that the sale will be treated as the transfer of agoing Concern (togC).
PROPOSAL
Offers are sought in excess of ?2,800,000 (two million, eight hundred thousand pounds), subject to contract and exclusive of VAT. Assuming standard purchaser??s costs of 5.80%, a purchase at this level would reflect an attractive net initial yield of 6.85%.
EPC
39 Commercial Street has an EPC rating of D99.
40 Commercial Street has an EPC rating of D76.
Full copies of the EPC??s are available upon request. SUBJECT to CONTRACT
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