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    Key features

    • High Yielding Retail Investment
    • Let to the Undoubted Covenant of Ladbrokes
    • 15 Year Lease Expiring 2035
    • Long Standing Occupier of 15+ Years
    • Asset Management Potential
    • Established and Popular Location
    • Investment Let at £24,500 p.a. (12.25% GIY on Guide Price)

    Description

    The property comprises a high yielding retail investment let to the undoubted covenant of Ladbrokes.

    Arranged as a double fronted retail unit, the property is let to Ladbrokes Betting & Gaming Limited on a 15 year lease 22.05.2035 and paying £24,500 per annum.

    We understand the upper parts comprise residential accommodation arranged as two flats, however we understand they are not used by the tenant. We therefore consider the property may offer asset management potential by regaining possession of these upper parts.

    The property occupies a prominent pitch with a frontage to Chapel Street, close to the junction of Main Street. The street is the main thoroughfare from several town centre car parks with an approx. 135 spaces as well as Bingley Station which is immediately to the rear of the property. The 5 Rise Shopping Centre is opposite and nearby tenants include Home Bargains, Co-Op, Boots and Subway.

    Additional information

    Tenure

    Freehold

    Tenancy

    The property is let to Ladbrokes Betting & Gaming Limited on a 15 year lease expiring 22.05.2035 and paying £24,500 per annum.


    The lease is on full repairing and insuring terms and includes tenants break options in 2028 and 2030. The tenant is a long standing occupier having been in occupation for 15+ years.


    Ladbrokes Betting & Gaming Limited


    D&B Rating - 5A1

    Turnover (2022) - £1.03bn

    Pre-Tax Profit - £5.43bn

    Rent

    £24,500 per annum
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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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      Local information

      • Bingley Station - Approx. 100m

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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