Let to Luxury Leisure t/a Admiral until 2035 (subject to option)
Prime pedestrianised town centre location
Medium term residential conversion potential of upper parts, subject to consents
Directly opposite the Modern Glassworks Shopping Centre with occupiers including Sports Direct, Flannels, JD Sports, TK Maxx, Starbucks and Nandos
Lot 20A
Auction 13th February 2025
Rent £114,500 per Annum Exclusive (2)
Status Available
Guide* £625,000 - £650,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
14 miles north of Sheffield, 20 miles south of Leeds
Roads
A635, M1 (Junction 37)
Rail
Barnsley Railway Station
Air
Leeds/Bradford Airport
Situation
Cheapside is the traditional prime retailing pitch in the heart of Barnsley town centre. The property is situated on the south side of Cheapside at its junction with Queen Sreet and May Day Green and directly opposite the new Glass Works Shopping Centre with retailers such as Next, Sports Direct, JD Sports and River Island. Other nearby occupiers include Marks & Spencer, JD Wetherspoon, Primark and Boots the Chemist.
Tenure
Freehold.
Location
Miles
14 miles north of Sheffield, 20 miles south of Leeds
Roads
A635, M1 (Junction 37)
Rail
Barnsley Railway Station
Air
Leeds/Bradford Airport
Situation
Cheapside is the traditional prime retailing pitch in the heart of Barnsley town centre. The property is situated on the south side of Cheapside at its junction with Queen Sreet and May Day Green and directly opposite the new Glass Works Shopping Centre with retailers such as Next, Sports Direct, JD Sports and River Island. Other nearby occupiers include Marks & Spencer, JD Wetherspoon, Primark and Boots the Chemist.
Tenure
Freehold.
Description
The property comprises a substantial mid terrace commercial building with retail accommodation on ground floor, used as a gaming centre and 3 uppers floors of ancillary accommodation, the first floor of which is used as a tanning Salon. The property benefits from rear access from Queen Street South.
The property may be suitable for medium term residential conversion of the uppers, subject to obtaining consents.
VAT
VAT is applicable to this lot.
EPC
Band C
Description
The property comprises a substantial mid terrace commercial building with retail accommodation on ground floor, used as a gaming centre and 3 uppers floors of ancillary accommodation, the first floor of which is used as a tanning Salon. The property benefits from rear access from Queen Street South.
The property may be suitable for medium term residential conversion of the uppers, subject to obtaining consents.
VAT
VAT is applicable to this lot.
EPC
Band C
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground First Mezzanine Second
Gaming Centre Tanning Salon Ancillary
169.80 132.60 24.76 74.60
1828 1427 267 803
Luxury Leisure (02448035) (1)
25 years from 25th March 2010 until 2035 (2)
£114,500
25/03/2025 (2)
Total Approximate Floor Area
401.76 (3)
4325 (3)
(1) Luxury Leisure (02448035) in November 1989 and for the year ending 31st December 2023 reported a Turnover of £141,017,789., Pre Tax Profits of £14,858,803 and Net Assets of £56,956,135.. (Source: Annual Report and Financial Statements as published at Companies House 27/01/205), (2) The property is let for a term of 25 years from 25th March 2010 until 2035 by virtue of a lease from 25th March 2010 until 24th March 2025 and a Reversionary lease from 25th March 2025 until 24th March 2035. The reversionary lease provides for an Open Market Rent Review on 25th March 2025 and a tenant option to determine the lease on 25th March 2030, subject to 6 months written notice. (3) The floor areas stated above are those published by the Valuation Office Agency at https://www.tax.service.gov.uk/business-rates-find/valuations/start/724966252 .
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.
