Rhodes House 97-119 Vicar Lane & 18 Harrison Street Leeds LS1 6PJ

  • Rhodes House<br>97-119 Vicar Lane & 18 Harrison Street<br>Leeds<br>LS1 6PJ

Rhodes House
97-119 Vicar Lane & 18 Harrison Street
Leeds
LS1 6PJ

Substantial High Yielding Retail Parade in Leeds City Centre

  • Substantial parade comprising three oriental supermarkets, a hair & beauty salon and two electrical appliance/audio visual shops
  • Fully let to tenants trading as Nong Fern Supermarket, Hang Sing Hong Oriental Supermarket, Regency Smart Supermarket, Sony Centre, Saks Hair & Beauty and Crompton & Moore
  • Includes new 15 year unbroken lease to Taste The Orient Supermarket who recently expanded into adjoining shops
  • Landmark City Centre building close to The Corn Exchange, Kirkgate Market and the City's Victoria Quarter
  • Nearby occupiers include John Lewis (Victoria Gate), Flannels, The North Face, Tesco Express and several independent Oriental Restaurants
  • Opposite Templar Street Car Park and Edward Street Car Park
  • Lot
    11
  • Auction
    31st March 2022
  • Rent
    £361,110 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Auction Venue
    Live Streamed Auction
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Substantial High Yielding Retail Parade in Leeds City Centre

  • Substantial parade comprising three oriental supermarkets, a hair & beauty salon and two electrical appliance/audio visual shops
  • Fully let to tenants trading as Nong Fern Supermarket, Hang Sing Hong Oriental Supermarket, Regency Smart Supermarket, Sony Centre, Saks Hair & Beauty and Crompton & Moore
  • Includes new 15 year unbroken lease to Taste The Orient Supermarket who recently expanded into adjoining shops
  • Landmark City Centre building close to The Corn Exchange, Kirkgate Market and the City's Victoria Quarter
  • Nearby occupiers include John Lewis (Victoria Gate), Flannels, The North Face, Tesco Express and several independent Oriental Restaurants
  • Opposite Templar Street Car Park and Edward Street Car Park
  • Lot 11
  • Auction 31st March 2022
  • Rent £361,110 per Annum Exclusive
  • Status Sold Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction

Property Information

Location
Miles
15 miles south Harrogate, 26 miles south-west of York
Roads
M1, M62, M621
Rail
Leeds
Air
Leeds Bradford Airport
Situation

The property is situated on Vicar Lane which runs between The Headrow and Eastgate, and close to Briggate, in a well established part of Leeds City Centre. Vicar Lane sits between the Victoria Quarter and the new Victoria Gate (John Lewis) development, with nearby occupiers including Flannels, The North Face and Tesco Express. Opposite the property are Templar Street & Edward Street car Parks and the Grand Theatre & Opera House is directly behind. Kirkgate Indoor Market is a short walk away.

Tenure

Virtual Freehold. Term of 999 years from 13/10/1999 at a peppercorn rent.

Location
Miles
15 miles south Harrogate, 26 miles south-west of York
Roads
M1, M62, M621
Rail
Leeds
Air
Leeds Bradford Airport
Situation

The property is situated on Vicar Lane which runs between The Headrow and Eastgate, and close to Briggate, in a well established part of Leeds City Centre. Vicar Lane sits between the Victoria Quarter and the new Victoria Gate (John Lewis) development, with nearby occupiers including Flannels, The North Face and Tesco Express. Opposite the property are Templar Street & Edward Street car Parks and the Grand Theatre & Opera House is directly behind. Kirkgate Indoor Market is a short walk away.

Tenure

Virtual Freehold. Term of 999 years from 13/10/1999 at a peppercorn rent.

Description

The Property comprises a substantial retail parade arranged on the ground and mezzanine floors comprising three oriental supermarkets, a hair & beauty salon and two electrical appliance/audio visual shops. The property also comprises a shop on Harrison Street sold off on a long lease. The property benefits from a service yard to the rear.

Above the parade is a substantial Travelodge Hotel, which does not form part of the sale.

VAT

VAT is applicable to this lot.

Completion Period

6 Week Completion

EPC

See legal pack.

Description

The Property comprises a substantial retail parade arranged on the ground and mezzanine floors comprising three oriental supermarkets, a hair & beauty salon and two electrical appliance/audio visual shops. The property also comprises a shop on Harrison Street sold off on a long lease. The property benefits from a service yard to the rear.

Above the parade is a substantial Travelodge Hotel, which does not form part of the sale.

VAT

VAT is applicable to this lot.

Completion Period

6 Week Completion

EPC

See legal pack.

Tenancy & Accommodation

Address Floor Use Floor Areas (Approx sq m) Floor Areas (Approx sq ft) Tenant Term Rent p.a.x.
97/99 Vicar Lane Ground
Mezzanine		 Retail/Ancillary
Spa
119.39 sq m
119.29 sq m
(1,285 sq ft)
(1,284 sq ft)
 OLD SIAM SUPERMARKETS LIMITED (1)
(t/a Nong Fern Thai Supermarket)		 10 years from 02/12/2013 to 01/12/2023
£36,000
101 & 103 Vicar Lane Ground
Mezzanine		 Retail/Ancillary
Ancillary
206.97 sq m
119.97 sq m
(2,228 sq ft)
(1,291 sq ft)
 SONITECH LIMITED (2)
(t/a Leeds Sony Centre)		 5 years from 15/06/2018 to 14/06/2023
£40,000
105 Vicar Lane Ground
Mezzanine		 Retail/Ancillary
Ancillary
94.50 sq m
78.80 sq m
(1,017 sq ft)
(848 sq ft)
 YORK REGENCY ASSOCIATES LIMITED (3)
(t/a Regency Smart Supermarket)		 5 years from 08/01/2019 to 07/01/2024
£28,000
109 Vicar Lane (Unit 1) Ground
Mezzanine		 Retail/Ancillary
Retail/Ancillary
183.18 sq m
197.51 sq m
(1,971 sq ft)
(2,126 sq ft)
 G & C MILLINGTON (4)
(t/a Millies Saks Hair & Beauty)		 15 years from 24/06/2008 to 23/06/2023
£40,000
111 Vicar Lane (Unit 2) Ground
Mezzanine		 Retail/Ancillary
Ancillary
191.06 sq m
101.71 sq m
(2,057 sq ft)
(1,095 sq ft)
 CRAMPTON & MOORE (TELEVISION) LIMITED
(t/a Crampton & Moore)		 10 years from 11/05/2009 to 10/05/2019 (Holding Over)
£42,000
113-119 Vicar Lane (Units 3-6) Ground
Mezzanine		 Retail/Ancillary
Retail/Ancillary
858.53 sq m
332.67 sq m
(9,241 sq ft)
(3,580 sq ft)
 HANG WON HONG (LEEDS) LIMITED (5)
with a guarantee from
Y.JIANG (t/a Taste the Orient)		 15 years from 30/09/2021 to 29/09/2036 with rent reviews on 30/09/2026 & 30/09/2031
£175,000 (6)
18 Harrison Street (Formerly known as Unit 6 Harrison Street) Ground/Mezzanine Retail/Ancillary
-
-
 PARK LANE PROPERTIES (LEEDS) LIMITED 999 years less 10 days from 13/10/1999
£10.00
Total    
2,603.32 sq m
(28,023 sq ft)
    
£361,110

(1) www.nongfernthai.co.uk. A rent deposit of £18,000 plus VAT is held.
(2) www.centresdirect.co.uk. Sony Centre trade from 17 stores in the UK.
(3) www.regencyshop.co.uk
(4) www.milliesleeds.co.uk
(5) www.hangsinghong.com. Taste the Orient has been trading as an oriental supermarket in Leeds for decades. The tenant previously occupied 117-119 Vicar Lane and recently expanded into 113-115 Vicar Lane. The tenant is currently shop fitting.
(6)The tenant benefits from half rent until 30/09/2022, after which the rent reverts to £175,000 per annum. The Seller will make an allowance on completion of the sale to £175,000 per annum - please see Special Conditions of Sale.

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.

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Edward MartinEdward Martin +44 (0)20 7034 4854 +44 (0)7478 673 535edward.martin@acuitus.co.uk
Seller's Solicitors
BSG Solicitors 314 Regents Park Road, Finchley
London
N3 2JX
Jeremy Swerner +44 (0)20 8343 4411jeremy@bsgsolicitors.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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