The property comprises a mid terrace, brick building under a pitched slate covered roof. The ground floor and basement are let under a commercial lease to a retailer operating as an off-licence and general store. The retail space is open plan, with an office & WC at ground floor with the basement providing additional storage. The separately accessed residential accommodation at first and second floors is let on an assured shorthold tenancy.
Location
The property is located in the popular North Leeds suburb of Headingley. It benefits from prominent main road frontage onto Headingley Lane which is the main arterial route linking Headingley with the Leeds Outer Ring Road and Leeds City Centre.
Accommodation
Measured in accordance with the RICS Property Measurement (incorporating International Property Measurement Standards) 2nd Edition, January 2018, the unit provides an approximate net internal area of:
Ground floor (sales) - 450 sq ft (41.8 sq m)
Basement (storage) - 427 sq ft (39.7 sq m)
Total - 877 sq ft (81.5 sq m)
The residential flat is separately accessed via a self contained entrance at the front of the property. Entering a ground floor entrance lobby stairs lead to first floor comprising lounge/ kitchen/ diner, double bedroom and shower room with WC. The second floor comprises two further double bedrooms and a further shower room with WC.
Terms
Lease Terms - The property is a fully let investment, to be sold subject to the existing tenancies:
SHOP – is let to a private individual for a term of 6 years from August 2020 at a current passing rent of £17,000 pa, rising to £18,700 pa from August 2023 following a fixed rent review.
FLAT – is let on an assured shorthold tenancy for a term of 12 months from July 2023 at a current passing rent of £16,068 pa (£1339 pcm).
The total net rent therefore is £33,068 pa, rising to £34,768 pa in August 2023 (assuming the residential rent remains the same).
Terms - The property is offered on a freehold basis subject to existing tenancies as outlined above, at a guide price of £459,950. VAT is not applicable on the property.
Business Rates/Council Tax - According to the Valuation Office Agency website, the premises has a current 2023 Rateable Value of £10,000. The residential flats currently fall under Council Tax A.
Interested parties are advised to direct further enquiries to the local authority.
EPC - The retail premises has an Energy Performance Certificate of C61 and the residential flat D 56.