The property comprises a 3 storey mid-terrace property situated within a pedestrianised Grade II Listed shopping arcade in the centre of Leeds.
The arcade mainly comprises independent boutique type businesses with some larger national multiples such as Charles Clinkard and Starbucks.
The subject property is presently let to a hair salon/ barbers, occupying under a 10 year lease which runs until April 2031. The current passing rent is £19,500 pa, with a rent review due in April 2026.
Location
The subject property is situated within Thornton’s Arcade which is a historic shopping arcade within the main retail core of Leeds City Centre. The arcade itself is understood to date back to the late 1800s.
The subject property is a single fronted unit situated towards the western end of the arcade. The arcade connects Briggate to Lands Lane which are both popular retailing streets.
Trinity Leeds Shopping Centre is a short 2 minute walk away.
Accommodation
Measured in accordance with the RICS Property Measurement (incorporating International Property Measurement Standards) 2nd Edition, January 2023, the unit provides an approximate net internal area of:
Ground Floor - 263 sq ft (24.4 sq m)
First Floor - 211 sq ft (19.6 sq m)
Second Floor - 217 sq ft (20.2 sq m)
Total - 691 sq ft (64.2 sq m)
Terms
TENANCY SCHEDULE - See attached brochure
EPC - The property currently benefits from an EPC rating of D-92.
TERMS - The freehold property is available for sale subject to its existing tenancies at a guide price of £295,000. It is understood that VAT is not applicable.
VAT - VAT is not applicable.
SERVICE CHARGE - Details available on application
LEGAL COSTS - Each party to the transaction will be responsible for their own legal expenses incurred.
RATEABLE VALUE - We have made enquiries with the VOA website and can reveal that the subject property has a rateable value of £16,500.
Specification
- Income of £19,500 pa
- 7.5% Yield
- Arranged over 3 floors
- Located within the historic Thornton’s Arcade