349/349A Wakefield Road, Bradford, West Yorkshire, BD4 7NB
TO RENT OR FOR SALE: For Sale: £147,500; May Let (Gr Fl): £7,500 pa
Floor Area (approx.): Ground floor 32.8 sq m (353 sq ft); flat: 31.3 sq m (337 sq ft)
Mixed use investment for sale, consisting of ground floor retail unit plus 1 bed apartment.
SITUATION
The property fronts onto Wakefield Road forming part of the A650 arterial route, approximately half a mile north of the Bradford Outer Ring Road (A6177) which provides direct access to the motorway networks. Ease of access is also available to Leeds Road (A647) and City wide region.
The premises therefore enjoy significant volumes of passing traffic with on street parking available in the side streets.
PROPERTY/ACCOMMODATION
The property comprises a stone constructed, mixed use investment property comprising of a ground floor retail unit (with useful basement) and a separate entrance leading to a 1st floor 1 bed apartment.
The accommodation was comprehensively refurbished recently comprising a full re-wire, new fire alarm, kitchen, WCs, decorations etc.
The premises provide the following accommodation and approximate net internal floor areas.
|
|
Sq m |
Sq ft |
|
Shop |
|
|
|
Ground floor Front sales area with extensive display windows, with security shutters. |
20.3 |
218 |
|
Rear office / Store Overall |
12.5 |
135 |
|
Basement |
|
|
|
Staffroom/store with fitted worktop/sink unit; separate WC |
16.7 |
180 |
|
Flat |
|
|
|
Ground floor Lobby area leading to: |
|
|
|
First floor Front lounge / diner with modern fitted kitchen units. |
16.7 |
180 |
|
Bedroom (with store off) with en-suite shower room. Overall |
14.6 |
157 |
Externally, the premises have a shared rear yard area.
RATING
A search of the Valuation Office website reveals that the shop has the following Rateable Values:-
Rateable Value: £2,750
Rates Payable (approx.): £1,372
At the time of preparing these particulars, this property (with a Rateable Value of less than £12,000) should not be liable to pay Business Rates (subject to qualifying conditions).
The flat will attract Council Tax liability (which the current tenant pays).
Parties are advised to check with the local Rating Authority as to the precise current rates liability.
TENANCY / LEASE SUMMARY
The shop has recently been vacated and is available to rent at £7,500 pax – Subject to Lease.
The flat is currently tenanted at a rental of £5,400 pa (£450 pcm). The tenant has been in occupation since July 2020.
There is potential to enhance the existing rental income by reviewing the flat rent to £6000 pa (£500 pcm) and by letting the ground floor shop unit totalling approx. £13,500 pa.
SALE PRICE
Offers in the region of £147,500 are sought for the Freehold interest (subject to the tenancy for the first floor tenant).
RENT/LEASE
Alternatively, our clients may consider a letting of the shop at a rental of £7,500 pa based upon a new repairing lease for a term to be agreed.
LEGAL COSTS
In the event of sale, each party to be responsible for their own legal costs in this transaction.
In the event of a letting, the ingoing tenant to pay the Landlords legals fees of £350 (plus vat) for the preparation of the lease.
VAT
The Landlords / Vendors do not intend to charge VAT on the rent / sale price, however they reserve the right to do so if appropriate.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Rating for the shop is D and the flat is rated G, a copy of the Certificate and Report is available upon request.
Special Note: please note that a member of the Sharma Williamson team has a special interest in the advertised property.
