Retail premises for sale

Location

The property is situated in a popular main road location, fronting onto Leeds Road (A647), immediately adjacent to The Bradford Mall, Anarkali, House of Swavo, Neel Kamal boutique, Turkish Sweet Centre, Nadia Waseem – Diamond Centre, Amani Jewellers, Maysa etc.

On street car parking is available nearby.

Description

The property comprises ground floor restaurant and takeaway unit, occupied by Spuddys, who also occupy the basement for kitchen and preparation/storage areas. The upper floor residential areas have been sublet to a residential tenant.

Accommodation

According to our measurements taken on site, the property offers the following net internal floor areas:-

Ground Floor
Restaurant/Takeaway 83.80 sqm (902 sqft)
Preparation 12.73 sqm (137 sqft)
Toilets --- ---

Basement
Preparation/Store 96.80 sqm (1,042 sqft)

Residential Premises

Upper Floor Residential Property --- ---

Approximate Total Net
Internal Floor Area 193.33 sqm (2,081 sqft)
(Commercial Area)

Services

The property benefits from the provision of gas, electric, gas, water and drainage.

Please Note: None of these services have been tested and prospective tenants are advised to satisfy themselves as to their condition and type.

Outgoings

We understand the restaurant section of the property to be assessed for Uniform Business Rates as follows:-

Description: Shop and Premises
Rateable Value: £16,500

The Uniform Business Rate for 2023/2024 is 51.2 pence in the £.

Due to transitional relief provisions, the rates payable may have no relation to the rateable value. Interested parties are advised to check with the Local Rating Authority as to the current rates liability.

Price

£495,000 Subject to Contract and Subject to Lease

Lease

The entire property is let on a lease expiring 31 December 2027, at a current passing rent of £27,736.50 pa. The rent is subject to a review on 1 January 2025 (fixed minimum increase) – more details available upon request.

We understand the tenant has sublet the upper floors.

Legal costs

Each party to be responsible for their own legal costs incurred in the transaction.

Energy performance certificate

The Energy Performance Certificate (EPC) rating for the property is:-

D - 85

VAT

The property is not subject to VAT, and VAT will not be charged on the purchase price.

Anti-money laundering

In accordance with Anti-Money Laundering Regulations, two forms of id and confirmation of the source of funding will be required from the successful purchaser.