Freehold City Centre Consented Office to Residential Conversion Opportunity
Substantial Four Storey Office Building
Prior Approval Granted for Change of Use from Offices to 12 Apartments
Upper Floors Approx. 549.37 sq m (5,914 sq ft)
Prime City Centre Shopping Quarter Location
Directly Opposite The Corn Exchange and Nearby Leeds Kirkgate Market, Central Arcade Shopping Centre and Trinity Shopping Centre
Neighbouring Occupiers Include Zara, Five Guys, JD Sports, Marks and Spencer, Wagamama and Superdrug
Lot 22
Auction 9th July 2024
Vacant Possession
Status Available
Guide* £600,000
Sector Development
Auction Venue Live Streamed Auction
Property Information
Location
Miles
15 miles south Harrogate, 26 miles south-west of York, 44 miles north-east of Manchester
Roads
M621, M1, A1(M), A64
Rail
Leeds Railway Station
Air
Leeds Bradford Airport
Situation
Leeds is the third largest City in the UK, with a resident population of over 750,000. The City boasts excellent communication links being within close proximity of the A61, M62 and M1. Leeds is the third busiest railway station outside of London with over 31 million passengers per annum.
The property is prominently situated in Leeds City Centre's shopping quarter, on the corner at the junction of New Market Street and Central Road, directly opposite the Corn Exchange. Leeds Kirkgate Market, Central Arcade Shopping Centre and Trinity Shopping Centre are all within close proximity to the property, with neighbouring occupiers including Zara, Five Guys, JD Sports, Marks and Spencer, Wagamama and Superdrug.
Tenure
Freehold.
Location
Miles
15 miles south Harrogate, 26 miles south-west of York, 44 miles north-east of Manchester
Roads
M621, M1, A1(M), A64
Rail
Leeds Railway Station
Air
Leeds Bradford Airport
Situation
Leeds is the third largest City in the UK, with a resident population of over 750,000. The City boasts excellent communication links being within close proximity of the A61, M62 and M1. Leeds is the third busiest railway station outside of London with over 31 million passengers per annum.
The property is prominently situated in Leeds City Centre's shopping quarter, on the corner at the junction of New Market Street and Central Road, directly opposite the Corn Exchange. Leeds Kirkgate Market, Central Arcade Shopping Centre and Trinity Shopping Centre are all within close proximity to the property, with neighbouring occupiers including Zara, Five Guys, JD Sports, Marks and Spencer, Wagamama and Superdrug.
Tenure
Freehold.
Description
The substantial property comprises retail accommodation on the ground and basement floors with separately accessed office accommodation on the upper three floors with an additional storage area in the basement. The ground and part of the basement floors have been sold off on a long lease.
VAT
VAT is applicable to this lot.
Planning
Prior approval has been granted by Leeds City Council on 21/10/2022 under planning ref 22/06033/DPD for the change of use from office to 12 apartments.
Completion Period
Six Week Completion
EPC
Shop: C, Offices: D
Description
The substantial property comprises retail accommodation on the ground and basement floors with separately accessed office accommodation on the upper three floors with an additional storage area in the basement. The ground and part of the basement floors have been sold off on a long lease.
VAT
VAT is applicable to this lot.
Planning
Prior approval has been granted by Leeds City Council on 21/10/2022 under planning ref 22/06033/DPD for the change of use from office to 12 apartments.
Completion Period
Six Week Completion
EPC
Shop: C, Offices: D
Tenancy & Accommodation
Address
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
20A New Market Street
Basement First Second Third
Offices (prior approval to convert to 12 flats)
9.35 73.96 237.98 228.08
(101) (796) (2,562) (2,455)
VACANT POSSESSION (2)
-
-
10 Central Road
Ground Basement
Retail Retail
93.06 112.21
(1,002) (1,208)
STONEHOUSE COMMERCIAL PROPERTIES LTD
999 years from completion
Peppercorn
20 New Market Street
Ground Basement
Retail Retail
121.27 47.22
(1,305) (508)
STONEHOUSE COMMERCIAL PROPERTIES LTD
999 years from completion
Peppercorn
Total Approximate Floor Area
923.13
(9,937)
-
(1) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk). (2) Prior approval has been granted by Leeds City Council on 21/10/2022 under planning ref 22/06033/DPD for the change of use from office to 12 apartments.
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.
