The property comprises a two-storey shopping development consisting of 14 shop units, currently configured and let as 8 single units and 3 double units, and each of which has a prominent external shop frontage. There is an internal service corridor which serves each of the units and a loading facility via the rear access road.
Location
Shipley is a market town and popular residential location situated in the Aire Valley, midway between Bradford and Bingley, and conveniently accessed just off the A650 corridor. Leeds is located approximately 11 miles to the east.
The Arndale Shopping Centre is located in the heart of Shipley town centre and adjacent to the Market Square, where parking facilities are available. The centre occupies a prominent and busy retailing position with frontage to Market Square, which is the focal point of the town centre, and thus forms an important part of the towns principal shopping facilities, where the main occupiers include Boots, Wilkinson, Superdrug, Clinton Cards and Specsavers.
Accommodation
8 single shop units plus 3 double units.
Terms
TENURE - Long leasehold from Bradford City Council. The lease is for a term of 150 years from 1October 1957 at a fixed rent of £250 per annum.
PRICE - We are instructed to seek offers in the region of £1,150,000, which is a price that will show a net return to the purchaser of 9.66%, assuming acquisition costs of 5.84%.
VAT - The property is elected for VAT purposes.
ENERGY PERFORMANCE CERTIFICATES - Details of the energy performance rating of each shop is included in the tenancy schedule. Copies of the energy performance certificates are available upon request from the sole agents.
Specification
- Comprising 8 single shop units plus 3 double units
- Popular retailing location adjacent to Market Square
- Fully let with current net rent roll of £117,600 pa
- Good growth prospects from forthcoming rent reviews and lease renewals
- Tenants include TCCT Retail, Perkins Jewellers, Paul Verity Optician and Age Concern