Co-operative Group Limited, Market Street Shipley West Yorkshire BD18 3QD

Co-operative Group Limited, Market Street
Shipley
West Yorkshire
BD18 3QD

Bowling Alley and Retail Ground Rent Investment

46 years unexpired income from the secure covenant Co-operative Group Limited
Located in a prominent position on Market Street, Shipley's prime pitch
10,844 sq ft well configured leisure accommodation

Lot
93
Auction
19th October 2017
Rent
£48,215 per Annum
Status
Sold Prior
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Bowling Alley and Retail Ground Rent Investment

46 years unexpired income from the secure covenant Co-operative Group Limited
Located in a prominent position on Market Street, Shipley's prime pitch
10,844 sq ft well configured leisure accommodation

Lot 93
Auction 19th October 2017
Rent £48,215 per Annum
Status Sold Prior
Price
Sector
Leisure
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 3 miles north of Bradford, 11 miles north-west of Leeds
Roads: A6038, A650, A657
Rail: Shipley Rail
Air: Leeds Bradford Airport

Situation

Shipley is an attractive commuter town located on the River Aire approximately 6 km (4 miles) north of Bradford and 22km (14 miles) west of Leeds. The subject property is located in a highly prominent position on Market Street, a short walk from the pedestrianised Market Square which houses occupiers including Superdrug, Specsavers, Greggs, Santander and Phones4U. Shipley Railway Station is less than a mile away from the property.

Tenure

Long Leasehold. The property is held as two long leasehold interests for a term of 148 and 150 years respectively, both expiring in 2111. The total head rent is £4,160 per annum.

Location

Miles: 3 miles north of Bradford, 11 miles north-west of Leeds
Roads: A6038, A650, A657
Rail: Shipley Rail
Air: Leeds Bradford Airport

Situation

Tenure

Long Leasehold. The property is held as two long leasehold interests for a term of 148 and 150 years respectively, both expiring in 2111. The total head rent is £4,160 per annum.

Description

The property comprises a two storey detached building fitted out with twelve bowling lanes, has a café diner, a licenced bar, a shop and a games room on the mezzanine floor. The property benefits from parking at the front and rear and a total approximate site of 1.08 acres.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent (gross)	Reviews/ (Reversion)
Bowling Alley	Ground/ Mezzanine	Bowling Alley/ Ancillary	1,007 sq m	(10,844 sq m)	CO-OPERATIVE GROUP LIMITED (1) (2)	99 years from 12/10/1964	£48,200	12/10/2027 and 12/10/2048
12-23 Market Street	Ground/ First/ Second	Retail	Not Measured		NOS 2 LIMITED	106 years from 09/07/2004	£10	(27/12/2110)
	Ground		Not Measured		THE YORKSHIRE ELECTRICITY BOARD	60 years from 23/12/1965	£5	(23/12/2025)
			1,007 sq m	(10,844 sq m)			£48,215

(1) Co-operative Group Limited is an Industrial and Provident Society regulated by the Financial Conduct Authority. It is one of the world’s largest consumer co-operatives with interests across food, funerals, electrical and legal services. They are the fifth largest food retailer in the UK and at the end of 2016 they had 2,774 stores (Source: www.co-operative.coop 18/09/2017).
(2) The property is sublet to Go Bowling (Shipley)