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Office Investment For Sale in Shipley, Salts Wharf, Ashley Lane, Shipley, BD17 7DB

14,030 Sq Ft / Offices / Investment

For Sale - £850,000.00

Available - Last updated: 02 January 2025

Salts Wharf comprises an attractive 3-storey stone built detached office building with large car park, constructed to a good standard in 2000 and incorporating high quality finishes including:-

  • Access raised floors with under floor trunking
  • Suspended ceiling with integral fluorescent lighting
  • Gas fired central heating
  • Passenger lift serving all levels
  • Feature reception with door entry system
  • Modern WC facilities within the common areas
  • Feature “balconies”
  • Large secure surfaced car parking
  • Timber framed double glazing
  • Sealed framed feature mezzanine areas

Location

Salts Wharf is situated on the northern periphery of Shipley Town Centre, in an established commercial and office area, situated alongside the Leeds & Liverpool Canal, with access from Salts Mill Road and ultimately Ashley Lane. The immediate surrounding area includes a number of sympathetically reconstructed and refurbished office buildings and excellent access is provided via Salts Mill Road from both Otley Road (A6038) and Leeds Road (A657) at the nearby junction to the north of the Leeds & Liverpool Canal.

The property is in close proximity, and easy walking distance of both Shipley & Saltaire Railway Stations, giving a good service to Leeds, Bradford, Keighley, Skipton and Ilkley.

The surrounding area includes a number of major occupiers including Intouch Advance, Beaumont Robinson, Incommunities, Ortho-Care UK etc.

Nearby to the west is the Waterfront development which includes Regus, Advisor Plus Business Solutions, McMillan Cancer Support etc.

Immediately to the east is the Saltaire Unesco World Heritage Site, which includes at its centre Salts Mill and New Mill, where occupiers include The Hockney 1853 Gallery, Bradford District Care NHS Foundation Trust, Salts Diner, The Book Shop, All Terrain Cycles, Early Music Shop, Carlton Antiques, Trek & Trail as well as a number of major commercial and industrial occupiers.

Other nearby occupiers also include The Noble Comb Public House, Aagrah Restaurant, Ibis Hotel etc.

Accommodation

Ground Floor

Suites 1 & 2 - 387.31 sq m (4,169 sq ft)

First Floor

Suites 3 & 4 - 405.20 sq m (4,362 sq ft)

Second Floor

Suites 5 & 6 (including mezzanines) - 510.88 sq m (5,499 sq ft)

Total Net Internal Area - 1,303.39 sq m (14,030 sq ft)
(Excluding Balconies)

Terms

Leases - Suites 1 and 2 at ground floor level, are let to Jensten Insurance Brokers (Yorkshire & Humberside) Ltd for a term of 5 years from 9th October 2024 subject to a break option at the end of the 3rd year of the term. The current passing rent is £41,690 per annum Excl.

Suite 6 is let to Fineline Architectural Design Ltd for a term of 6 years from 1st December 2023 subject to a break option at the end of the 3rd year of the term. The current passing rent is £28,000 per annum Excl.

The total gross passing rent is £69,690 Excl plus VAT.

Tenure - The property is held under the terms of a 125 year full repairing and insuring lease from 16th June 1999, at a current passing rent of £14,000 PA, subject to review on 16th June 2019 (further details on request)

Price - £850,000 Subject to contract for the long leasehold interest, subject to occupational tenancies - plus VAT (or as a TOGC).

EPC:

Suite 1 - C-60
Suite 2 - C-55
Suite 3 - C-65
Suites 4, 5 & 6 - B-49

VAT - The property is registered for VAT, however it is anticipated that the transaction will be taken as a TOGC.

Specification

  • Modern Office Investment, built to a high standard in 2000
  • Long leasehold interest held from Bradford Council (approx 104 years unexpired)
  • Excellent canal-side location and large car park
  • Fully let to Sydney Packett & Sons Limited & Verifone Limited
  • Net Income of £55,690 PA Excl
  • Price of £850,000 representing a gross yield of approx. 6.6% after usual purchaser’s costs estimated at 5.88% and a low capital value of only £94.44 per sq ft

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Leasehold £850,000.00 NA

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Commercial Team

Adair Paxton

0113 347 0151

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