Freehold Retail and Dental Surgery Investment (with Recent Planning for Residential on Second Floor)
Prominently located charity shop and dental surgery, with planning permission recently granted for 3 flats on the vacant second floor
Shop let to SENSE on lease expiring June 2033 (subject to option)
Dental surgery let to Modern Arts Dental Limited until December 2033 (subject to options)
Vacant second floor (1,880 sq ft) with Planning Permission granted in September 2023 for conversion to 3 Residential flats
Prominent town centre location, overlooking Market Place and Pontefract Open Market
Nearby occupiers include M&S Simply Food (opposite), Tesco Superstore, B&M, Boots the Chemist, WHSmith, Holland & Barrett, Greggs & KFC
Lot 28
Auction 25th September 2024
Rent £45,000 per Annum Exclusive plus Vacant Second Floor with Planning for Residential conversion
Status Available
Guide* £550,000 - £575,000
Sector High Street Retail/Residential/Development
Auction Venue Live Streamed Auction
Property Information
Location
Miles
9 miles east of Wakefield, 14 miles south-east of Leeds
Roads
A1(M) (Junction 41), A639, A645, M62 (Junctions 32 and 33)
Rail
Pontefract Baghill Railway Station
Air
Leeds/ Bradford International Airport
Situation
The property is prominently situated on the north side of Market Place, at its junctions with both Shoemarket and Beastfair, in the heart of the town centre. Nearby occupiers include M&S Simply Food (opposite), Tesco Superstore, B&M, Boots the Chemist, WHSmith, Holland & Barrett, Greggs & KFC.
Tenure
Freehold.
Location
Miles
9 miles east of Wakefield, 14 miles south-east of Leeds
Roads
A1(M) (Junction 41), A639, A645, M62 (Junctions 32 and 33)
Rail
Pontefract Baghill Railway Station
Air
Leeds/ Bradford International Airport
Situation
The property is prominently situated on the north side of Market Place, at its junctions with both Shoemarket and Beastfair, in the heart of the town centre. Nearby occupiers include M&S Simply Food (opposite), Tesco Superstore, B&M, Boots the Chemist, WHSmith, Holland & Barrett, Greggs & KFC.
Tenure
Freehold.
Description
The property comprises a large shop arranged on the ground floor and basement, a dental surgery on the first floor and vacant separately-accessed former office accommodation on the second floor, with planning permission to convert to residential.
VAT
VAT is applicable to this lot.
Planning
Planning permission was granted on 15/09/2023 from Wakefield Council (R: 23/00856/FUL) for the change of use from Offices to 3 Residential flats on the second floor. (www.wakefield.gov.uk) (t: 0345 8506 506 e: devcontrol@wakefield.gov.uk)
Completion Period
Six Week Completion
EPC
The EPC's will be available to view online in the solicitor’s legal pack.
Description
The property comprises a large shop arranged on the ground floor and basement, a dental surgery on the first floor and vacant separately-accessed former office accommodation on the second floor, with planning permission to convert to residential.
VAT
VAT is applicable to this lot.
Planning
Planning permission was granted on 15/09/2023 from Wakefield Council (R: 23/00856/FUL) for the change of use from Offices to 3 Residential flats on the second floor. (www.wakefield.gov.uk) (t: 0345 8506 506 e: devcontrol@wakefield.gov.uk)
Completion Period
Six Week Completion
EPC
The EPC's 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
Ground Basement
Retail/Ancillary Ancillary
160.00 98.70
(1,722) (1,062)
SENSE, THE NATIONAL DEAFBLIND AND RUBELLA ASSOCIATION (2) (t/a SENSE)
10 years from 30/06/2023 with a tenant option to determine on 30/06/2028
£35,000
30/06/2028
First
Dental Surgery
174.00
(1,872)
MODERN ARTS DENTAL LIMITED (3) (t/a Modern Arts Dental) with a personal guarantee until December 2028
10 years from 18/12/2023 with tenant options to determine on 18/12/2026 & 18/02/2029
£10,000
-
Second
Former Offices
174.72
(1,880)
VACANT (see Planning paragraph)
-
-
-
Total
607.42
(6,536)
£45,000
(1) Areas provided by VOA (www.gov.uk/find-business-rates) (2) Sense, The National Deafblind and Rubella Association, operate in over 100 stores across the UK (www.sense.org.uk) (3) (www.modernartsdental.com)
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.
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