Ground Floor Retail & Restaurant Units With Car Park Investment - Currently producing £123,662.50 pa ERV When Fully Let £141,000 pa
Description Fully let retail and restaurant units occupying the ground floor of a four storey block, the upper floors recently converted to residential apartments. The property also includes a 40 space surfaced car park to the rear. Tenancies The property is currently fully let as follows:- •Wakefield Carpet Specialists Ltd – 10 year lease to expire 31st March 2033 at a current rental of £42,500 pa. •Sofra Turkish Grill Restaurant – let by way of three leases to (1) Istanbul WKD Ltd - 7 year lease to expire 30th April 2030 at £18,000 pa, (2) Marmaris WKD Ltd – by way of a 6 year lease to expire 3rd September 2025 at £18,000 pa and (3) private individual by way of a 7 year lease to expire 30th April 2030 at £8,000 pa •Bakery – let to Istanbul WKD Ltd by way of a 10 year lease to expire 30th November 2033 at a rent of £18,000 pa. •21 car parking spaces let to local businesses on annual contracts (£2.50 per day) – total rent £19,162.50pa Total annual rental income = £123,662.50 pa 19 car parking spaces are vacant which when let will increase the income to £141,000 pa Location Prominently situated on the corner of Northgate and Providence Street close to Wakefield Bus Station on the northerly fringes of Wakefield City Centre. Tenure: Long Leasehold Title number: WYK707018 Finance is available on this lot. For a decision-in-principle visit togethermoney.com/amydip/ ANTI-MONEY LAUNDERING REGULATIONS In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser. Every effort has been made to confirm the accuracy of the lot details including any defect in the title both with the vendor and their solicitor. Auction House will not be held responsible for any failure to disclose any such defects. Any purchasers choosing to buy without viewing in person are doing so at their own risk and acknowledge that the auctioneer will not be held responsible for any issues that may arise due to them being unintentionally missed from the video or sales particulars. Please refer to legal pack for additional fees and the Auction Information document for guidance prior to bidding.
Wakefield Metropolitan District Council
Gateley Legal, Ref: Gateley Legal, Tel: 0161 836 7734
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Buyer's Premium - 1.2% inc VAT of the purchase price, payable on exchange of contracts.
Administration Charge - 1.98% inc VAT of the purchase price, subject to a minimum of £1980 inc VAT, payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.