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Lot 22

Leasehold Commercial Investment – Gross Yield 13%
6 Week Completion

Situation

In this waterside location, occupying a prominent position with frontage to the River Calder and forming part of the mixed-use Waterfront Wakefield regeneration scheme, accessed from Bridge Street, south of the City Centre.
Wakefield is located approx. 8 miles south of Leeds and enjoys good road links via the M1 (Junction 39) and the M62 (Junction 3).

Property

Forming part of a modern building comprising an open plan Ground Floor Unit and Basement. The ground floor of the property benefits from approx. 48 feet of window frontage overlooking the River Calder.

Accommodation¹

Ground Floor Unit and Basement
Area Approx. 2,315 sq ft
WCs

¹Not inspected by Barnett Ross. Area supplied by Vendor.

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 250 years from 1 January 2008 at a peppercorn ground rent.

Tenancy

The property is let on a full repairing and insuring lease (subject to a schedule of condition) to Rainbow Play Rooms Limited as a Children's Play Space (visit: www.rainbowplayrooms.com) for a term of 3 years from 21 December 2023 (excl. s.24-28 of L&T Act 1954) at a current rent of £5,200 per annum exclusive.

*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.

Waterfront Wakefield, Hebble Wharf, 2 Navigation Walk, Wakefield, West Yorkshire WF1 5RH