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Lot 49

First time on the market for over 20 years
Gross Yield 11%
6 Week Completion

Situation

Occupying this town centre trading position fronting Market Place and at the intersection with Westgate, Kirkgate and New Street, adjacent to Lloyds Bank and amongst such multiples as McDonald's, Barclays Bank, Ladbrokes, KFC, Betfred, Nando's, Ryman and Marks & Spencer. In addition, an entrance to the Packhorse Shopping Centre is opposite the property.
Huddersfield lies approx. 16 miles south-west of Leeds and approx. 21 miles north-east of Manchester.

Property

A terraced building comprising a Ground Floor Shop with internal access to Ancillary Accommodation on the first, second and third floors. In addition, the property benefits from pedestrian access to the rear via Chancery Close.

Accommodation

Ground Floor Shop
Gross Frontage 21'6”
Internal Width 20'6”
Shop & Built Depth 27'8”
First Floor
Staff & Prep Rooms Approx. 305 sq ft
WC
Second Floor
Office Area Approx. 270 sq ft
Kitchen, 2 WCs
Third Floor
Store Area Approx. 340 sq ft

VAT is NOT applicable to this Lot

Tenure
Leasehold for a term of 999 years from 25th March 1872 at a fixed ground rent of £12.50 p.a.

Tenancy

The entire property is let on a full repairing and insuring lease to Subway Realty Ltd as a Sandwich Bar (T/O for Y/E 2017 £35.4m, Pre-Tax Profit £1.74m and Shareholders' Funds £4.33m) for a term of 10 years from 24th June 2012 at a current rent of £22,000 per annum exclusive.

Note: The Tenant did not exercise their 2017 Break Clause.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

4 Market Place, Huddersfield, West Yorkshire HD1 2AN