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    Key features

    • To be offered on Tuesday 21 October
    • Prime Retail/Office Investment Opportunity
    • Fully Let to the Undoubted Covenant of Lloyds Bank Plc
    • 10 Year Lease Expiring 15.08.2033
    • Long Standing Occupier of 20+ Years
    • 24,811 sq ft (2,305.06 sq m)
    • Development/Conversion Potential (subject to consents)
    • Prime Central Location
    • Investment Let at £150,000 p.a. (10% GIY on Guide Price)
    • VAT-Free Investment

    Description

    The property comprises a prime investment opportunity in the heart of Bradford City Centre.

    Arranged across basement, ground and seven upper floors, the Grade II listed property (Please see "notes" below) comprises a retail banking hall to the ground and mezzanine floors, with office and ancillary space to the upper parts.

    The property is fully let to the undoubted covenant of Lloyds Bank Plc, a long standing occupier of 20+ years, on a 10 year lease expiring 15.08.2033 and paying £150,000 per annum.

    The property includes extensive upper parts which benefit from separate access and may be suitable for medium/long term conversion to alternative uses, including residential (subject to the existing lease and any requisite consents).

    We understand the property previously benefitted from permitted development approval for conversion of the upper parts to 15 apartments. There may be potential to increase the massing of this development to provide approx. 30 apartments (subject to obtaining the requisite consents).

    The property occupies a prime pitch with a frontage to the pedestrianised Hustlergate, one of the principal retail streets and part of the pedestrianised city centre. The Kirkgate Shopping Centre is to the rear of the property and the Broadway Shopping Centre is immediately opposite. Nearby tenants include Waterstones, Nationwide, and McDonalds.

    Additional information

    Tenure

    Freehold

    Tenancy

    The property is fully let to Lloyds Bank Plc on a 10 year lease expiring 15.08.2033 and paying £150,000 per annum.


    The lease is on full repairing and insuring terms and includes an open market rent review and tenants break option in the 5th year.


    Lloyds Bank Plc


    • D&B Rating - 5A1
    • Turnover (2023) - £31bn
    • Pre-Tax Profit (2023) - £7.05bn

    Planning

    The property previously obtained prior approval for conversion of the upper parts to residential use via two separate consents (References: 21/05484/PN3G & 21/05471/PN3MA).

    Rent

    £150,000 per annum

    Notes

    Please note, the status of the property as a Listed Building is ambiguous. Please consult the Historic England website. Prosepective purchasers must rely on their own enquiries in this regard.

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      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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