Entirely let to The Phoenix Partnership (Leeds) Limited
Future Development Potential (subject to consents)
Approximately 1,488 sq m (16,024 sq ft)
Approximate site area of 0.264 hectares (0.65 acres) with parking for approximately 32 cars
Lot 16
Auction 23rd October 2014
Rent £230,000 per Annum Exclusive
Status Sold
Price £1,690,000
Sector Office
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Joint LPA Receivers, DTZ Investment Management
Property Information
Location
Miles
7 miles north-west of Leeds
Roads
A6120 Leeds Ring Road
Rail
Horsforth Railway Station
Air
Leeds Bradford International (3 miles)
Situation
The property comprises a three storey office building benefitting from
suspended ceilings, perimeter trunking and central heating. The property
provides an approximate site area of 0.264 hectares (0.65 acres) with parking
for approximately 32 cars.
Tenure
Freehold. Horsforth is an established residential and commercial location within the City of Leeds borough, seven miles north-west of the city centre and less than three miles from Leeds Bradford International Airport. The property is situated in the town centre on the eastern side of Troy Road, two minutes’ walk from Horsforth Railway Station which provides half hourly services to Leeds City Centre with a journey time of 17 minutes. Bridge Place residential development is located immediately adjacent to the property.
Location
Miles
7 miles north-west of Leeds
Roads
A6120 Leeds Ring Road
Rail
Horsforth Railway Station
Air
Leeds Bradford International (3 miles)
Situation
The property comprises a three storey office building benefitting from
suspended ceilings, perimeter trunking and central heating. The property
provides an approximate site area of 0.264 hectares (0.65 acres) with parking
for approximately 32 cars.
Tenure
Freehold. Horsforth is an established residential and commercial location within the City of Leeds borough, seven miles north-west of the city centre and less than three miles from Leeds Bradford International Airport. The property is situated in the town centre on the eastern side of Troy Road, two minutes’ walk from Horsforth Railway Station which provides half hourly services to Leeds City Centre with a journey time of 17 minutes. Bridge Place residential development is located immediately adjacent to the property.
Description
The property comprises a three storey office building benefitting from suspended ceilings, perimeter trunking and central heating. The property provides an approximate site area of 0.264 hectares (0.65 acres) with parking for approximately 32 cars.
VAT
VAT is applicable to this lot.
Viewings
There will be block viewings for this property.
Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Telephone: +44 (0)20 7034 4857.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a three storey office building benefitting from suspended ceilings, perimeter trunking and central heating. The property provides an approximate site area of 0.264 hectares (0.65 acres) with parking for approximately 32 cars.
VAT
VAT is applicable to this lot.
Viewings
There will be block viewings for this property.
Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Telephone: +44 (0)20 7034 4857.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground First Second
Office Office Office
495.50 sq m 496.10 sq m 497.00 sq m
(5,334 sq ft) (5,340 sq ft) (5,350 sq ft)
THE PHOENIX PARTNERSHIP (LEEDS) LIMITED (1)
7 years from 01/04/2010 on a full repairing and insuring lease (2)
£230,000
31/05/2017
Totals
1,488.60 sq m
(16,024 sq ft)
£230,000
(1) For the year ending 31st March 2013, The Phoenix Partnership (Leeds) Ltd reported a turnover of £26,524,250, pre-tax profits of £8,411,694 and a total net worth of £15,270,711. (Source: www.riskdisk.com 16/09/2014) (2)The property is currently let on two coterminous leases (one for the building and one for the car park) from 01/04/2010 until 31/05/2015 at a total rent of £207,805 p.a.x. The tenants have completed a lease extension to cover both the building and car park for a term of 2 years from 01/06/2015 until 31/05/2017 at a rent of £230,000 p.a.x. The seller has agreed to adjust the completion monies so that the property will effectively produce £230,000 p.a.x. from completion of the sale.
Contacts
Seller's Solicitors
Clyde & Co LLP The St Botolph Building, 138 Houndsditch London EC3A 7AR
