40/42 Albion Street Leeds West Yorkshire LS1 6HX

40/42 Albion Street
Leeds
West Yorkshire
LS1 6HX

Freehold Retail Investment

Entirely let to First Choice Holidays Limited, guaranteed by The Carphone Warehouse Limited
Prominent city centre location on pedestrianised retail pitch
Situated adjacent to and opposite the major Trinity Leeds Shopping Centre Redevelopment
Albion Street to be subject to an approximate £10m regeneration
Asset management opportunities
Approximately 111.36 sq m (1,199 sq ft)
Six Week Completion Available

Lot
3
Auction
7th April 2011
Rent
£91,500 per Annum Exclusive
Status
Sold
Price
£1,125,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of F&C REIT Asset Management

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Freehold Retail Investment

Entirely let to First Choice Holidays Limited, guaranteed by The Carphone Warehouse Limited
Prominent city centre location on pedestrianised retail pitch
Situated adjacent to and opposite the major Trinity Leeds Shopping Centre Redevelopment
Albion Street to be subject to an approximate £10m regeneration
Asset management opportunities
Approximately 111.36 sq m (1,199 sq ft)
Six Week Completion Available

Lot 3
Auction 7th April 2011
Rent £91,500 per Annum Exclusive
Status Sold
Price £1,125,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of F&C REIT Asset Management

Property Information

Location

Miles: 11 miles east of Bradford, 33 miles north of Sheffield, 44 miles north-east of Manchester
Roads: M1, M62, A1
Rail: Leeds Railway Station
Air: Leeds Bradford International Airport

Situation

The property is prominently situated on the east side of Albion Street, one of Leeds' prime pedestrianised retail thoroughfares. The property is adjacent to and opposite the Leeds Shopping Plaza which forms part of the Trinity Leeds Shopping Centre redevelopment by Land Securities. The scheme will comprise 120 retail units and is currently underway due for completion in Spring 2013.

Albion Street will be subject to an approximate £10m regeneration plan as it will form the heart of the scheme encompassing Marks & Spencer, Next, Boots the Chemist, H&M, River Island and Bhs. For further information, please refer to www.trinityleeds.com

Tenure

Freehold.

Location

Miles: 11 miles east of Bradford, 33 miles north of Sheffield, 44 miles north-east of Manchester
Roads: M1, M62, A1
Rail: Leeds Railway Station
Air: Leeds Bradford International Airport

Situation

Tenure

Freehold.

Description

The property comprises a GROUND FLOOR RETAIL UNIT with STORAGE and ANCILLARY ACCOMMODATION on first and second floors.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a GROUND FLOOR RETAIL UNIT with STORAGE and ANCILLARY ACCOMMODATION on first and second floors.

VAT

VAT is applicable to this lot.

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	Reviews
Ground First Second	Retail Storage/Ancillary Storage/Ancillary	55.86 sq m 43.29 sq m 12.21 sq m	(601 sq ft) (466 sq ft) (132 sq ft)	FIRST CHOICE HOLIDAYS LIMITED (guaranteed by THE CARPHONE WAREHOUSE LIMITED) (1)(2)	20 years from 08/11/1999 on a full repairing and insuring lease	£91,500	08/11/2014 (07/11/2019)
Totals		111.36 sq m	(1,199 sq ft)			£91,500

1) For the year ending 30th September 2009, First Choice Holidays Limited reported a turnover of £5,362,000, pre-tax profits of £5,694,000 and a total net worth
of £679,985,000. (Source: www.riskdisk.com 18/01/2011) For the year ending 3rd April 2010, The Carphone Warehouse Limited reported a turnover of
£1,583,205,000, pre-tax profits of £61,646,000 and a net worth of £714,392,000. (Source: www.riskdisk.com 27/01/2011)
(2) Please note that the tenant has sub-let the entire property to Gadget FX.