Freehold Retail and Residential Investment (with Asset Management & Development Potential)
Comprises large ground floor shop (with significant main road frontage) plus three separately accessed 2/3 bed maisonettes above
Totalling 726.30 sq. m. (7,818 sq. ft.)
Includes rear secure car parking and store building with development potential and advertising hoarding income
Shop let to subsidiary of JD Sports PLC (Tenant served notice to terminate the lease in June 2025)
Asset management opportunities - including possible shop sub-division, remodelling existing flats and potential rear development (subject to consents)
Popular mixed commercial & residential area
VAT-free investment
Lot 7
Auction 27th March 2025
Rent £59,660 per Annum Exclusive
Status Available
Guide* Contact Us
Sector High Street Retail, Residential, Mixed Use
Auction Venue Live Streamed Auction
Property Information
Location
Miles
4 miles east of Leeds City Centre
Roads
A6120, A64, M1
Rail
Cross Gates Railway Station
Air
Leeds Bradford Airport
Situation
The property is located on the southern side of Crossgates Road, at its junction with Poole Road. The property is situated in a mixed commercial and residential area, equidistant from Station Road, home to Crossgates Shopping Centre, and the A64.
Tenure
Freehold.
Location
Miles
4 miles east of Leeds City Centre
Roads
A6120, A64, M1
Rail
Cross Gates Railway Station
Air
Leeds Bradford Airport
Situation
The property is located on the southern side of Crossgates Road, at its junction with Poole Road. The property is situated in a mixed commercial and residential area, equidistant from Station Road, home to Crossgates Shopping Centre, and the A64.
Tenure
Freehold.
Description
The property comprises a large quadruple fronted shop arranged over the ground and basement floors, together with three separately accessed two/three bedroom maisonettes on the upper two floors. The property benefits from a secure rear yard with car parking and an additional store building and garage.
VAT
VAT is not applicable to this lot.
Planning
Planning permission was previously granted by Leeds City Council on 04/11/2016 under planning ref 16/06052/FU for a first and second floor extension to form two flats and detached two storey outbuilding with open parking under and workshop over, change of use and alterations to ground floor to provide three retail units and hot food takeaway and restaurant.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a large quadruple fronted shop arranged over the ground and basement floors, together with three separately accessed two/three bedroom maisonettes on the upper two floors. The property benefits from a secure rear yard with car parking and an additional store building and garage.
VAT
VAT is not applicable to this lot.
Planning
Planning permission was previously granted by Leeds City Council on 04/11/2016 under planning ref 16/06052/FU for a first and second floor extension to form two flats and detached two storey outbuilding with open parking under and workshop over, change of use and alterations to ground floor to provide three retail units and hot food takeaway and restaurant.
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. (2)
Floor Areas Approx (sq. ft.) (2)
Tenant
Term
Rent p.a.x.
Ground Basement External Store
Retail Ancillary Storage / Garage
304.72 81.75 95.69
(3,280) (880) (1,030)
XLR8 SPORTS LIMITED t/a Leisure Lakes Bikes.com
10 years from 01/06/2019 (1)
£35,000
First / Second (78a Crossgates Road)
Residential 2 bedroom maisonette
81.83
(880)
INDIVIDUAL
AST from 23/11/2024 at £650 pcm.
£7,800
First / Second (80a Crossgates Road)
Residential 2 bedroom maisonette
88.77
(956)
INDIVIDUAL
AST from 29/06/2017 at £550 pcm.
£6,600
First / Second (82a Crossgates Road)
Residential 3 bedroom maisonette
73.54
(792)
INDIVIDUAL
AST from 14/06/2024 at £800 pcm.
£9,600
Advertising Hoarding
-
PRIMESIGHT LIMITED (3)
Agreement dated 22/10/2002
£660
Total Approximate Commercial Floor Area
726.30
(7,818)
£59,660 (1)
(1) The lease is subject to a tenant only break option on 01/06/2025. Notice has been served by the tenant to terminate the lease on the break date. The lease is also subject to an upward only rent review on 31/04/2024 and notice was served by the landlord on the tenant on 26/02/2024 to settle the rent review at an increased rent of £49,950 per annum. (2) Maisonettes measured on a Gross Internal Basis. (3) Agreement determinable by the Tenant on one month's notice or by the Landlord on 90 days notice. The rent is paid by Global Media Group.
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.
