Property Auctions 10/Dec/2020 | Orchard Gate Shopping Centre, Otley, West Yorkshire, LS21 3AF

Substantial Freehold Shopping Centre Investment of 16 Shops, 3 Kiosks, Office & Bus Station

Prominent Town Centre Location
Comprises 21,421 sq ft of Retail & Office accommodation plus a Bus Station and Car parking
In the same ownership since 2008
Asset management opportunities and future redevelopment potential (subject to consents)

Lot 9
Auction 10th December 2020
Rent £286,085 per Annum
Status Withdrawn Prior
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 9 miles north east of Bradford; 9 miles south west of Harrogate; 10 miles north east of Leeds; 26 miles south west of York
Roads: A660, A59, A658, A65, A1(M
Rail: Burley in Wharfdale, Menston & Guiseley railway stations
Air: Leeds Bradford (5 miles to the south east)

Situation

Otley is set between the beautiful Yorkshire Dales to the north and the City of Leeds 10 miles to the south west. Harrogate is 9 miles to the north east, Skipton 14 miles to the north west and 26 miles south west of York. Manchester is 40 miles to the west. The town is located on the A660 which via the A65 connects the Yorkshire Dales to Leeds. Orchard Gate shopping centre is located in the heart of the town centre with frontages to Crossgate, New Market and Market Street. The shopping centre adjoins Otley bus station and is within walking distance of 4 of the towns main car parks.

Tenure

Freehold. Majority Freehold. Public Toilets are held leasehold from Leeds City Council.

Location

Miles: 9 miles north east of Bradford; 9 miles south west of Harrogate; 10 miles north east of Leeds; 26 miles south west of York
Roads: A660, A59, A658, A65, A1(M
Rail: Burley in Wharfdale, Menston & Guiseley railway stations
Air: Leeds Bradford (5 miles to the south east)

Situation

Otley is set between the beautiful Yorkshire Dales to the north and the City of Leeds 10 miles to the south west. Harrogate is 9 miles to the north east, Skipton 14 miles to the north west and 26 miles south west of York. Manchester is 40 miles to the west. The town is located on the A660 which via the A65 connects the Yorkshire Dales to Leeds. Orchard Gate shopping centre is located in the heart of the town centre with frontages to Crossgate, New Market and Market Street. The shopping centre adjoins Otley bus station and is within walking distance of 4 of the towns main car parks.

Tenure

Freehold. Majority Freehold. Public Toilets are held leasehold from Leeds City Council.

Description

The Orchard Gate Shopping Centre comprises an open scheme of 16 Shops, 3 Kiosks an Office & Bus Station. The retail units trade at ground floor with some units benefitting from first floor ancillary accommodation. 6 units front Market Street.

VAT

VAT is applicable to this lot.

Planning

The property may benefit from future redevelopment for a variety of uses, subject to all necessary consents/permissions and current tenancies. Interested Parties are referred to www.otleytowncouncil.gov.uk

Completion Period

6 week completion is available

EPC

See Legal Pack at www.acuitus.co.uk

Description

The Orchard Gate Shopping Centre comprises an open scheme of 16 Shops, 3 Kiosks an Office & Bus Station. The retail units trade at ground floor with some units benefitting from first floor ancillary accommodation. 6 units front Market Street.

VAT

VAT is applicable to this lot.

Planning

The property may benefit from future redevelopment for a variety of uses, subject to all necessary consents/permissions and current tenancies. Interested Parties are referred to www.otleytowncouncil.gov.uk

Completion Period

6 week completion is available

EPC

See Legal Pack at www.acuitus.co.uk

Tenancy & Accommodation

Unit No.	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
1 (23 Market Street)	Ground First	Retail Ancillary	55.3 sq m 34.3 sq m	(596 sq ft) (369 sq ft)	Individual t/a Dales Cafe	5 years from 3/09/2019	£13,500	(02/09/2024)
2 (21 Market Street)	Ground First	Retail Ancillary	52.20 sq m 50.61 sq m	(562 sq ft) (545 sq ft)	Individual t/a JR Sports	10 years from 19/07/2010	£13,000	Holding over
3 (19 Market Street)	Ground First	Retail Ancillary	52.70 sq m 51.49 sq m	(568 sq ft) (555 sq ft)	Cats Protection Trustee Ltd	10 years from 01/05/2015 (1)	£13,175	1/05/2020 (1)
4 (17 Market Street)	Ground First	Retail Office/ Ancillary	54.77 sq m 57.87 sq m	(589 sq ft) (623 sq ft)	Ison Harrison Ltd t/a Solicitors	4 years from 1/01/2018 (2)	£15,500	1/07/2020
5	Ground	Retail	68.46 sq m	(737 sq ft)	Individual t/a A casa Alessia Pizzeria	6 years from 15/06/2017 (3)	£12,000	(14/06/2023) (3)
6	Ground First	Retail Ancillary	104.32 sq m 57.82 sq m	(1,122 sq ft) (622 sq ft)	Sportswift Ltd t/a Card Factory	10 years from 18/11/2015 (4)	£22,800	18/11/2020 (4)
7	Ground First	Retail Ancillary	232.30 sq m 112.10 sq m	(2,500 sq ft) (1,206 sq ft)	Petwise (Otley) Ltd t/a Petwise Pet Shop	10 years from 29/03/2017	£36,350	29/03/2022
8	Ground First	Retail Ancillary	251 sq m 225 sq m	(2,702 sq ft) (2,422 sq ft)	Mackays Stores Ltd (5) (In Administration) t/a M&Co	10 years from 10/02/2017	£44,200 (5)	-
9	Ground First	Retail Ancillary	34.00 sq m 34.00 sq m	(365 sq ft) (365 sq ft)	Individual t/a Groove Pad Beer & Vinyls	5 years from 01/09/2018 (6)	£11,520	01/09/2021
10	Ground	Retail	25.40 sq m	(273 sq ft)	Individual t/a Shoecraft	10 years from 10/03/2019	£7,400	10/03/2024
11	Ground First	Office Office	70.58 sq m 76.78 sq m	(759 sq ft) (827 sq ft)	Otley Town Council	10 years from 31/01/2013	£20,000	(31/03/2023)
12	Ground	Retail	32.85 sq m	(354 sq ft)	Mr Blinok Ltd t/a Pancake House	3 years from 14/10/2019 (7)	£8,000	14/10/2020
12A	Ground	Retail	34.85 sq m	(376 sq ft)	Individual t/a Otley Mobiles	3 years from 4/10/2019	£8,000	(03/10/2022)
13	Ground	Retail	67.25 sq m	(723 sq ft)	Individual (ladies fashion Pop up Shop)	expires 16/04/2021	£5,400	(16/04/2021)
14	Ground First	Retail	28.80 sq m 29.30 sq m	(310 sq ft) (315 sq ft)	Individual t/a Like Nana Did	5 years from 01/08/2020 (8)	£9,500.04	01/08/2021
15 (15 Market Street)	Ground	Retail	35.40 sq m	(381 sq ft)	Individual t/a Orchard Florist	2 years from 1/01/2020	£7,500	1/01/2021
16 (11 Market Street)	Ground	Retail	34.10 sq m	(367 sq ft)	Rumagin Spirits Limited t/a Rumagin	3 years from 29/09/2020	£8,500	29/09/2021
Kiosk 1	Ground	Retail	4.9 sq m	(53 sq ft)	Individual t/a The Little Battery Shop	5 years from 1/05/2020	£3,800	1/05/2023
Kiosk 2	Ground	Retail	9.8 sq m	(105 sq ft)	Individual t/a Gift Shop	5 years from 1/02/2020 (9)	£4,583
Kiosk 3	Ground	Retail	11.8 sq m	(127 sq ft)	Individual t/a The Coffee Station	3 years from 01/09/2019	£6,000	(31/08/2022)
Sitting Out Area					O`Deli (Otley) Ltd	Licence	£910
Bus Station					First West Yorkshire Limited	10 years from 25/03/2015	£11,950	25/03/2020
Public Toilets					Otley Town Council	5 years from 16/06/2009	£10	(31/03/2023)
2 Car Parking Spaces					Various	Licences	£1,000	08/07/2024
Total			1,990.05 sq m (21,4721 sq ft) plus Bus Station & Car Parking				£286,085.04

(1) Tenants option to determine exercised from 1/05/2021
(2) Tenants option to determine 1/01/2021 not exercised
(3) Tenants option to determine 16/06/2021
(4) Tenants option to determine 18/11/2020 not exercised
(5) Mackays Stores Ltd entered Administration on 3/08/2020 and the rent is
paid by the Administrator
(6) Tenants option to determine 31/08/2020 not exercised
(7) Tenants option to determine 14/10/2022
(8) Tenants option to determine 1/08/2022
(9) Tenants option to determine 1/02/2022 and annually thereafter
NB: First floors of Units 5, 12, 12A, 13, 15 & 16 are residential flats sold off on Long Leases

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.