Leeds - 25-26 Commercial Street

Location:

Leeds is the administrative centre of Yorkshire and is one of the most important retail and commercial centres in the UK.

The city is located 44 miles (71 km) north east of Manchester, 24 miles (38 km) south west of York and 33 miles (53 km) north of Sheffield. Leeds is one of the leading regional centres of the UK for financial and business services and is the financial capital of the region. Major employers include Royal Bank of Scotland, Lloyds Bank, Yorkshire Bank, Coutts, Leeds Building Society, Leeds City Council, British Gas, Direct Line, Green Flag, O2 and Unilever.

  • Situation

    The subject property is located in a highly prominent corner position at the junction of Commercial Street and Albion Street and directly opposite one of the entrances into Trinity Shopping Centre.

  • Description

    The subject property comprises a four storey property providing a ground floor retail unit with ancillary accommodation on basement, first and second floors.

  • Tenure

    Freehold.

  • Accommodation:

    Ground Floor Sales 1,655 sq. ft 154 sq. m
    Basement Ancillary 1,319 sq. ft 123 sq. m
    First Floor Ancillary 1,375 sq. ft 128 sq. m
    Second Floor Ancillary 1,436 sq. ft 133 sq. m
  • Tenancy (ies)

    The entire property is let to AG Retail Cards Limited t/a Clintons on a 10 year Full Repairing and Insuring lease from 8th October 2013 expiring 7th October 2023. There is an outstanding rent review from October 2018.

    Unexpired lease term of 4.3 years.

  • Current Rent PAX

    250000

  • VAT

    The property has been elected for VAT and any disposal will be by way of a Transfer of a Going Concern (TOGC).

  • Price

    £2,950,000 (Subject to Contract and exclusive of VAT )

  • Yield

    A net initial yield of 8%.

MISREPRESENTATION: These particulars do not constitute an offer or contract. They are intended as a guide to prospective purchasers. All reasonable care has been taken in the preparation of these particulars but their accuracy is not guaranteed. The purchaser should satisfy himself and as to the correctness of these details, Neither the agents nor the vendor or lessors are to be or become under any liability or claim in respect of these particulars. These particulars are supplied on the understanding that all negotiations are conducted through this office.

All viewings are strictly by prior appointment.
Please contact:

David Freeman
Ed Smith
Patrick Over