Old School Calverley Street Leeds West Yorkshire LS1 3ED

Old School
Calverley Street
Leeds
West Yorkshire
LS1 3ED

Prime Grade II Listed Freehold Office and Leisure Investment

Historic Grade II Listed Office and Leisure Opportunity
Prime Leeds location opposite Leeds Town Hall, Leeds Central Library and Leeds City Art Gallery
Opened in 1881 as the Leeds School Board
Undergone a major refurbishment
Approximately 1,933.57 sq. m. (20,812 sq. ft.) over Ground, Basement, First, and Second Floors
Opportunity to enhance income with Active Asset Management
Nearby occupiers include Marks & Spencer, Tesco Express, Morrisons, Bill's, Flight Club and JD Wetherspoon

Lot
16
Auction
21st September 2023
Rent
£444,459 per Annum
Status
Withdrawn Post
Price
Auction Venue
Live Streamed Auction

Important Update Interested?

Expand
Photos
Map

Prime Grade II Listed Freehold Office and Leisure Investment

Historic Grade II Listed Office and Leisure Opportunity
Prime Leeds location opposite Leeds Town Hall, Leeds Central Library and Leeds City Art Gallery
Opened in 1881 as the Leeds School Board
Undergone a major refurbishment
Approximately 1,933.57 sq. m. (20,812 sq. ft.) over Ground, Basement, First, and Second Floors
Opportunity to enhance income with Active Asset Management
Nearby occupiers include Marks & Spencer, Tesco Express, Morrisons, Bill's, Flight Club and JD Wetherspoon

Lot 16
Auction 21st September 2023
Rent £444,459 per Annum
Status Withdrawn Post
Price
Sector
Office
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 15 miles south Harrogate, 26 miles south-west of York
Roads: A58, A61, A68, M1, M62, M621
Rail: Leeds Train Station
Air: Leeds Bradford Airport

Situation

The property is situated at the heart of Leeds City Centre, being prominently located at the junction of Calverley Street and Great George Street. The property boasts excellent communication links being within close proximity to A58 and A61 as well as Leeds Train Station. The location is adjacent to Millennium Square and the main retail and leisure core of Leeds City Centre as well as the major Leeds General Infirmary Hospital some 100 metres (110 yards) to the north. Nearby occupiers include Marks & Spencer, Tesco Express, Morrisons, Bill's, Flight Club and JD Wetherspoon.

Tenure

Freehold. In addition, the 8 car parking spaces are held leasehold for a term of 10 years from 6/07/2016 at a pay away rent of £14,400 p.a.x.

Location

Miles: 15 miles south Harrogate, 26 miles south-west of York
Roads: A58, A61, A68, M1, M62, M621
Rail: Leeds Train Station
Air: Leeds Bradford Airport

Situation

Tenure

Freehold. In addition, the 8 car parking spaces are held leasehold for a term of 10 years from 6/07/2016 at a pay away rent of £14,400 p.a.x.

Description

The property, a highly attractive Grade II listed building, primarily comprises office accommodation arranged over the ground, first and second floors with a self-contained bar at basement level. The property has undergone a major refurbishment to provide floor to ceiling heights ranging from 3.8 to 5.8 metres, period features throughout, new AC system, raised floors with 200mm void, secure cycle parking, fibre internet supply and two passenger lifts.

The sale also includes 8 car parking spaces which are held on a separate leasehold title.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.
Lower Ground	Pub/Bar/Ancillary	545.99	(5,877)	To be brewery/bar operator	New 10 year lease (1)	£70,000 (1)
Ground	Office	391.04	(4,209)	SHIFT COMMERCE LIMITED (2)	A term of years from 24/10/2018 until 23/11/2023	£101,784
First	Office	535.96	(5,769)	VACANT POSSESSION	12 month rental guarantee (3)	£144,225 (3)
Second	Office	460.58	(4,957)	ARBOR EDUCATION PARTNERS LIMITED (4)	5 years from 11/02/2020 until 10/02/2025	£122,450
3 Car Parking Spaces	-	-	-	SHIFT COMMERCE LIMITED (2)	5 years from 24/10/2018 until 23/10/2023	£6,000
5 Car Parking Spaces	-	-	-	VACANT	-
Total Approximate Floor Area		1,933.57	(20,812) (5)			£444,459

(1) A lease has been agreed with a brewery to operate a bar from the basement floor. It is anticipated that the lease will be completed prior to the auction. The lease provides for a 12 month rent free period, the Seller will pay to the Buyer the rent that would have been due from completion of the sale until the end of the rent free period.
(2) Shift Commerce is a market-leading eCommerce platform, building marketplace strategies (www.shiftcommerce.com).
(3) As to the vacant first floor office, the Seller will provide a rental guarantee of £144,225 per annum and for this floor, cover any shortfall in service charge and rates for the period of 12 months from completion of the sale.
(4) Arbor Education provide Management Information Systems to over 4,300 schools, helping them work more easily and collaboratively (www.arbor-education.com).
(5) The ground, first and second floor areas are those published by the Valuation Office Agency (www.voa.gov.uk).

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.