Retail premises for sale

Location

The property is located at the entrance to the Broadway Shopping Centre, where occupiers now include Boots, W H Smiths, Poundland, Sketchers, River Island, New Look, H & M, with a new Primark Store coming shortly.

The building benefits from frontages to Broadway, Charles Street, and Market Street, all of which form major pedestrianised shopping streets. Bradford Forster Square Station is 0.3 miles from the property, and Bradford Interchange is 0.2 miles.

Description

TheXchange is an approx. 98,000 sqft mixed use property, in the main shopping core of Bradford City Centre.

The property comprises the freehold of TheXchange Building, the ground floor retail/banks, and first floor Gym and offices have been sold off on a 999-year lease and sub-let by the tenant. Part of the basement, and the upper floors have been sold off on a 250-year lease, at an initial ground rent of £10,000 pa, rising to £20,000 pa, and are to be converted to residential use.

There is a car park in the basement, with the majority of the spaces being included in the demise of the upper floors, however, 10 are offered vacant (some short term income in place) The section of the building adjacent to The Yorkshire Building Society (second, third and fourth floors) have been sold to the Society on a 150 year lease. The remainder (part Second Floor) of that section, is let to ybs, and there is a Northern PowerGrid substation, which apparently serves a large area of the City Centre.

The freeholder insures the whole wider building and operates the service charge.

Leases

A tenancy schedule and copies of agreements are available upon request.

Price

£425,000 Subject to Contract, and Leases – Plus VAT

Legal costs

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

Energy performance certificate

A Schedule of EPC’s is available upon Request.

VAT

VAT will be applicable to the purchase price, although it is anticipated, that the sale can be upon the basis of a togc.

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

Further information

For further information please contact the sole selling agents:

Mark Brearley & Company – Tel: Email:
Web Site:

(July 2024 – 4345D / majb)

Notes – tenancy schedule:
(1) Landlord and tenant can exercise to break the lease, if the underlease to Locala is determined early. The Locala underlease expires on 22/05/2028. This accommodation forms part/links into the HSBC building and the Locala subletting is part of a larger letting within HSBC Building and the rent on this lease is set at 35% of the underlease rental to Locala
(2) Please note this is a title document, not an occupational tenancy