Let to Trespass Europe Limited until March 2028 (subject to option)
Prime pedestrianised retailing thoroughfare in city centre
Opposite entrance to Trinity Leeds, the city’s premier shopping centre
Nearby occupiers include Halifax Bank, Monsoon, Clarks, Paperchase, Lush and Itsu
Lot 33
Auction 11th July 2018
Rent £150,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of Aviva
Property Information
Location
Miles
10 miles east of Bradford, 36 miles north of Sheffield
Roads
A58M, A64M, M1, M621
Rail
Leeds Railway Station
Air
Leeds Bradford Airport
Situation
The property is located on the northern side of the pedestrianised Commercial Street, one of Leeds’ primary retailing thoroughfares.
Tenure
Freehold.
Location
Miles
10 miles east of Bradford, 36 miles north of Sheffield
Roads
A58M, A64M, M1, M621
Rail
Leeds Railway Station
Air
Leeds Bradford Airport
Situation
The property is located on the northern side of the pedestrianised Commercial Street, one of Leeds’ primary retailing thoroughfares.
Tenure
Freehold.
Description
The property comprises a four storey retail unit with retail accommodation on the ground and first floors and ancillary accommodation on second floor and basement.
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 four storey retail unit with retail accommodation on the ground and first floors and ancillary accommodation on second floor and basement.
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.
10 years from 03/03/2018 on a full repairing and insuring lease (2)
£150,000 (3)
03/03/2023 (02/03/2028)
Total
382.76 sq m
(4,120 sq ft)
£150,000 (3)
(1) First established in 1938, Trespass is one of the UK’s most successful outdoor clothing retailers. They currently have over 230 stores across the UK and in mainland Europe, as well as a network of wholesale clients across the world and a thriving e-commerce website (Source: www.trespass.com 13/06/2018). Trespass Europe Ltd is a subsidiary of Jacobs & Turner Ltd who for the year ending 25th June 2017 reported a turnover of £99,430,896, pre tax profits of £4,181,599 and a total net worth of £50,508,351 (Source: Experian Group 18/06.2018). (2) The lease is subject to a tenant’s option to determine on 03/03/2023. (3) For the purpose of clarification, the tenant is currently benefitting from a rent free period due to expire on 3rd September 2018. The rent will then be £130,000 p.a. due to increase annually by £5,000 p.a. until reaching £150,000 p.a. in March 2022. The Seller has agreed to adjust the completion monies so that the unit effectively produces £150,000 from completion of the sale.
