Retail Investment with Residential Redevelopment Opportunity
Includes a Shop and Self-Contained Offices
Retail Unit Let to Utilita Energy Limited Until October 2028 (subject to option)
Approximately 5,260 sq ft (488.69 sq m)
Potential for Residential Development of Upper Floors (subject to consents)
Prominent Corner Location in Pedestrianised Town Centre
Nearby occupiers include Sainsbury's, Primark, DHL, Costa Coffee, Boots, Poundland and Greggs
Lot 29
Auction 13th December 2023
Rent £25,000 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail, Residential, Development
Auction Venue Live Streamed Auction
Property Information
Location
Miles
15 miles south-west of Leeds, 25 miles north-east of Manchester, 26 miles north of Sheffield
Roads
A62, A629, A640, M62 (Junctions 23/24)
Rail
Huddersfield Railway Station
Air
Leeds Bradford Airport
Situation
The property is prominently situated in the heart of the Town Centre on the pedestrianised New Street at its junction with High Street. Nearby occupiers include Sainsbury's, Primark, DHL, Costa Coffee, Boots, Poundland and Greggs.
Tenure
Virtual Freehold. Held for a term of 999 years from 25th March 1870 at an apportioned ground rent of £16.58 per annum.
Location
Miles
15 miles south-west of Leeds, 25 miles north-east of Manchester, 26 miles north of Sheffield
Roads
A62, A629, A640, M62 (Junctions 23/24)
Rail
Huddersfield Railway Station
Air
Leeds Bradford Airport
Situation
The property is prominently situated in the heart of the Town Centre on the pedestrianised New Street at its junction with High Street. Nearby occupiers include Sainsbury's, Primark, DHL, Costa Coffee, Boots, Poundland and Greggs.
Tenure
Virtual Freehold. Held for a term of 999 years from 25th March 1870 at an apportioned ground rent of £16.58 per annum.
Description
The property comprises an attractive Grade II Listed property with a shop on the ground and basement floors & self-contained office accommodation on the three upper floors which are currently vacant. The upper parts may have potential for residential conversion, subject to consents.
Boots Opticians were formerly in occupation of the entire property and the benefit of the dilapidations under the previous lease will be assigned to the buyer.
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 an attractive Grade II Listed property with a shop on the ground and basement floors & self-contained office accommodation on the three upper floors which are currently vacant. The upper parts may have potential for residential conversion, subject to consents.
Boots Opticians were formerly in occupation of the entire property and the benefit of the dilapidations under the previous lease will be assigned to the buyer.
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
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Rent Review (Reversion)
Basement Ground
Ancillary Retail/Ancillary
114.68 117.21
(1,234) (1,262)
UTILITA ENERGY LIMITED (CRN: 04849181) (2)
5 years from 16/10/2023 (3)
£25,000
(15/10/2028)
First Second Third
Office Office Office
94.40 90.20 72.20
(1,016) (971) (777)
VACANT POSSESSION
-
-
-
Total Approximate Floor Area
488.69
(5,260)
£25,000
(1) The floor areas stated above are those published by the Valuation Office Agency (https://www.gov.uk/find-business-rates) (2) Utlilta Energy is an electricity and gas supplier operating in the United Kingdom, for more information see: www.utilita.co.uk. For the year ending 31/03/2022, Utilita Energy Limited reported a turnover of £1,026,025,000, a pre-tax profit of £27,910,000 and a Shareholder Funds of £7,303,000 (Northrow 21/11/2023). (3) The lease provides for a tenant option to determine the lease on 16/10/2026.
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.
