Property Information
Address:
RAWSON QUARTER, BRADFORD
, BD1 3QQ
Price: Property no longer available.
Size: 17000 sq ft1579 sqm
Primary Category: Shop
All Categories:
Shop,
Property Ref/Movehut: MH470023
Property Ref/Agent: BRADFORD RAWSON QUARTER, BD1 3QQ
*Please use the agent ref when calling the agent directly.
Property description
INVESTMENT HIGHLIGHTS
Bradford has an estimated shopping population in excess of 180,000 persons.
Excellent City Centre secondary retail pitch situated between the Kirkgate Shopping Centre Bradford??s main covered market hall.
WAULT 7.30 years to expiry.
Approximately 85% of the income is secured against B&M Retail, Greggs and Wilkinson.
Current Net Income: ?671,171 per annum
Price: ?7,000,000 (Subject to contract & exclusive of VAT)
A purchase at this level would reflect a Net Initial Yield of 9.06%, assuming purchaser??s cost of 5.80%
LOCATION
Bradford is a strategically located commercial centre in West Yorkshire, approximately 16 km (10 miles) west of Leeds, 19 km (12 miles) north of Huddersfield and 64 km (40 miles) east of Manchester. The City is 320 km (200 miles) north of Central London.
DESCRIPTION
Rawson Quarter was redeveloped approximately 10 years ago and provides an attractive combination of new built and refurbished accommodation on the site of the original Rawson Market. The development comprised a small element of refurbishment of the original entrance to the market hall with the remainder being new build. The largest unit in the scheme is let to Wilkinsons and benefits from an entrance on Goodwin Street (opposite an entrance to the Kirkgate Centre). Due to the sloping nature of the site the B&M is a ground floor unit fronting Rawson Place at the junction of Goodwin Street. The scheme also provides two regular units fronting John Street, thirteen small units on James Street which are very popular with local traders due to the high footfall along the street. A prominent unit at the junction of Goodwin Street and James Street and two additional units fronting Rawson Place
SITUATION
Rawson Quarter is situated in the heart of Bradford City Centre, immediately to the north is the city??s only centrally located Morrisons foodstore. Rawson Quarter is immendiately opposite the Kirkgate Centre Shopping Centre and new Westfield Shopping Centre. Rawson Quarters position in the city ideally suits the occupiers in the property given the proximity to the cities markets and main city centre car parking.
VAT
The property is elected for VAT and it is proposed that the sale will be treated as a Transfer of Going Concern (TOGC).
PROPOSAL
We are seeking offers of ?7,000,000 (Seven million pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 9.06% , assuming purchaser??s costs of 5.80%.
EPC
Further information is available upon request
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