This freehold retail unit is currently let to Frozen Value Limited Trading as Fulton Foods and is generating an annual income of £12,000. The lease has an unexpired term of 5 years with an upward only rent review due on the 7th April 2019. The property comprises a sales area and store room to the ground floor with a wc and ancillary storage to the first floor. Adjoining properties have converted the upper floors into flats so there is potential to add further value at some point in the future. The property is located on a busy parade in Middleton, South Leeds with other occupants on the circus including Sainsbury's, Boots and Greggs. Frozen Value Limited was incorporated in 1971 with accounts for the financial year ending in 2018 showing sales of £56.6 million from 104 stores and with net assets of £11.7 million. Buyers should be aware that the property is registered for VAT.
Sales area and store room.
Ancillary storage and wc.
The property has a small yard to the rear.
Charges & Payments
In addition to the deposit Administration Charge: 0.6% inc VAT of the purchase price subject to a minimum of £900.00 inc VAT. Disbursements: Any additional disbursements payable by the purchaser are yet to be confirmed by the vendors solicitor. For more details please see the legal pack.
Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Leeds City Council
Administration Charge - See above
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.