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
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.
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
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.
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)
Contacts
Associate Auctioneers
Forge 2nd Floor, 3-5 Barrett Street,
St Christopher’s Place London W1U 1AY
