Majority of leases with 36 years unexpired offering valuable reversions
Majority of leases provide for 10 yearly rent reviews
Six warehouse units upon the site
Prominent roadside location
Lot 26
Auction 7th November 2024
Rent £8,327 per Annum Exclusive
Status Sold
Price £285,000
Sector Ground Rent
Auction Venue Live Streamed Auction
On Behalf of a Cambridge College
Property Information
Location
Miles
1.7 miles east of Leeds City Centre
Roads
A64 (M), A58
Rail
Leeds Railway Station
Air
Leeds Bradford Airport
Situation
The property is located on the north side of Nowell Lane, close to its junction with Lupton Avenue and 1.7 miles east of Leeds City Centre. The immediate vicinity comprises light industrial and high density residential areas.
Tenure
Freehold.
Location
Miles
1.7 miles east of Leeds City Centre
Roads
A64 (M), A58
Rail
Leeds Railway Station
Air
Leeds Bradford Airport
Situation
The property is located on the north side of Nowell Lane, close to its junction with Lupton Avenue and 1.7 miles east of Leeds City Centre. The immediate vicinity comprises light industrial and high density residential areas.
Tenure
Freehold.
Description
The property comprises a site of approximately 0.25 Ha (0.61 Acres) upon which sits a terrace of 6 warehouse units with a total approximate floor area of 987.22 sq. m. (10,346 sq. ft.)(1).
VAT
VAT is applicable to this lot.
Note
Postal Address: 36 Nowell Lane, Leeds
Units 1-5 Nowell Approach, Leeds
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a site of approximately 0.25 Ha (0.61 Acres) upon which sits a terrace of 6 warehouse units with a total approximate floor area of 987.22 sq. m. (10,346 sq. ft.)(1).
VAT
VAT is applicable to this lot.
Note
Postal Address: 36 Nowell Lane, Leeds
Units 1-5 Nowell Approach, Leeds
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Site Area Approx. Sq. M.
Site Area Approx. (Sq. Ft.)
Tenant
Term
Rent p.a.x.
Review
Reversion
Site 1
166.45
(1,792)
INDIVIDUAL
85 years from 01/12/1977
£1,750
01/12/2027
30/11/2062
Site 2 Unit 1
198.95
(2,141)
INDIVIDUALS
85 years from 01/01/1976
£1,247
01/01/2026 and 10 yearly thereafter
28/12/2060
Site 2 Unit 2
153.90
(1,657)
LEEDS SCULPTURE WORKSHOP
83 years from 31/03/1997
£1,260
01/01/2026 and 10 yearly thereafter
28/12/2060
Site 2 Unit 3
132.60
(1,147)
INDIVIDUAL
85 years from 01/01/1976
£1,276
01/01/2026 and 10 yearly thereafter
28/12/2060
Site 2 Unit 4
204.50
(2,201)
INDIVIDUALS
83 years from 09/06/1977
£1,606
01/01/2026 and 10 yearly thereafter
28/12/2060
Site 2 Unit 5
130.82
(1,408)
INDIVIDUAL
83 years from 18/02/1977
£1,188
01/01/2026 and 10 yearly thereafter
28/12/2060
Total
987.22
(10,346)
£8,327
(1) The floor areas stated above 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.
