Limewood Approach, Ring Road, Seacroft, Leeds LS14 1NH
Multi-let InvestmentAvailable as a Whole or Two Lots
Building 1: 50,689 sq ftBuilding 2: 53,865 sq ft
FOR SALE
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Location The property is prominently located within an established industrial/leisure/retail area close to the Leeds outer ring road (A6120). The immediate surrounding area has undergone significant change in recent years including the development of bespoke/speculative industrial facilities plus new leisure and retail schemes. Over 500 new homes have been built recently within 600 meters of the site.
DescriptionThe property comprises two leasehold multi-let B1, B2 & D2 assets. The site has been comprehensively refurbished and managed professionally for several years. Further details provided overleaf.
Building 1 n Leasehold: WYK212191 n Unexpired term: c.86 years
Building 2 n Leasehold: WYK72221 n Unexpired term: c.22 years
YY69406 n Lease in place to provide additional vehicle parking for
JD Sports Gyms Limited.
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dhp.org.uk
Building 1n Leasehold: WYK212191n Landlord: Trinity College Cambridgen Term: 125 yearsn Commencement: 25 September 1980n Expiry: 24 September 2105 (c.86 years to expiry)n Rent: A peppercornn Use: B1, B2n Insurance: Tenant keep insuredn Repair: Tenant keep in tenantable repairn Yielding Up: Yield up the demised premises in
tenantable repair and conditionn Alienation: Landlords consent not to be
unreasonably withheld
Building 2n Leasehold: WYK372221n Landlord: Trinity College Cambridgen Term: 85 Yearsn Commencement: 07 January 1956n Expiry: 06 January 2041 (c.22 years to expiry)n Rent: £14,625 per annumn Use: permanent buildings for light industrialn Insurance: Tenant keep insuredn Repair: Tenant keep in tenantable repairn Yielding Up: Yield up the demised premises in
tenantable repair and conditionn Alienation: Landlords consent not to be
unreasonably withheld
YY69406n Lease in place to provide additional vehicle
parking for JD Sports Gyms Limited.n Landlord: P.A.I.D Holdings Limited n Term: Co-terminous with unit 4 leasen Commencement: 15 September 2016n Expiry: 14 June 2031n Rent: £4,800 per annumn Use: Parking of private motor cars and vans only
ancillary to the use of the tenants adjoining property as a gymnasium
n Break: Tenant only on 15 June 2021 and 15th June 2026
n Review: 15 June 2021 & 15 June 2026 to the higher of passing, Market Rent or the indexed rent
n Insurance: Tenant to insuren Repair: Tenant keep in good and tenantable repair
and conditionn Yielding Up: Yield up in the state and condition
required by the leasen Alienation: Not without landlords consent not to
be unreasonably withheldn LTA 1954: Provisions excluded
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Unit Use Sq Ft Tenant Rent p.a.Rent p.s.f
Commencement ExpiryUnexpired
TermNext Review Basis
Unit 1 (Car Park) Industrial 12,500 JD Sports Gyms Limited £42,350 £3.39 04/06/18 03/06/26 7 years 04/06/23 Effective FRI + s/cUnit 2 Industrial 6,609 Chippendale Builders Limited £24,660 £3.73 01/02/16 31/01/26 6.3 years 01/02/22 Effective FRI + s/cUnit 2A Industrial 4,149 Chippendale Builders Limited £18,080 £4.36 14/10/17 31/01/26 6.3 years 01/02/22 Effective FRI + s/cUnit 3 Industrial 22,500 Wolseley UK Limited £80,000 £3.56 27/02/15 26/02/22 2.8 years 27/02/20 Effective FRI + s/c
45,758 Total Industrial Rent £165,090G1, G2, G3 Ground Floor Office 1,595 NRSH Enterprises UK Limited £15,210 £9.54 01/12/16 30/11/19 0.5 yearsSuite X, Ground Floor Office 828 Vacant (rental guarantee) £5,000 £6.04 2 yearsSuite 1, Ground Floor Office 650 Vacant (rental guarantee) £10,000 £15.38 2 yearsSuite 1, First Floor Office 152 Autowide Limited £3,000 £19.74 01/08/18 31/07/19 0.1 yearsSuite 2, First Floor Office 164 Skipping School Limited £3,000 £18.29 01/09/18 31/08/19 0.2 yearsSuite 3, First Floor Office 266 Anne Pemberton £4,500 £16.92 01/04/17 31/03/19 0 yearsSuite 4, First Floor Office 217 Premier Pipework Ltd £3,420 £15.76 01/10/17 30/09/18 0 yearsSuite 5, First Floor Office 220 Vacant (rental guarantee) £3,000 £13.64 2 yearsSuite 5a, First Floor Office 219 CK Architectural £6,900 £31.51 04/02/19 03/02/20 0.8 yearsSuite 6, First Floor Office 620 Vacant (rental guarantee) £9,000 £14.52 2 yearsKitchen & Toilets & Com 1,915
4,931 Total Office Rent £63,030 *Building 1 Total Rent £228,120
Unit Use Sq Ft Tenant Rent P.A.Rent p.s.f
Start Date Expiry DateUnexpired
TermNext Review Basis
Unit 4 Industrial 29,386 JD Sports Gyms Limited £97,500 £3.32 04/07/16 14/06/31 12 years 04/07/21 Effective FRI + s/cUnit 4B Industrial 4,484 Arlington Worksurfaces LimitedUnit 5 Industrial 8,860 Paperworks (Harrogate) Ltd £27,500 £3.10 05/06/15 04/06/30 11 years 05/06/20 Effective FRI + s/cUnit 6 Industrial 12,137 Treymaine Limited T/A Chiltern Mills £31,000 £2.55 23/03/15 22/03/20 0.8 years Effective FRI + s/cYY69406 Car Park n/a JD Sports Gyms Limited -‐£4,800
50,383 Total Industrial Rent £151,200
Unit 6 First Floor Office 3,482 Tom Ball Live £14,200 £4.08 01/04/18 31/03/28 8.8 years 01/04/23 Effective FRI + s/c
3,482 Total Office Rent £14,200
Ground Rent £14,935
Building 2 Total Net Rent £150,465
BUILDING 1 (WYK212191)
Total Industrial sq ft
Total Office sq ft
Total Industrial sq ft
Total Office sq ft
BUILDING 2 (WYK372221)
Lease sold
*Office rent is inclusive of insurance and utilities for suites and common areas (guarantee is net rent only)
Car park leased to facilitate Unit 4 occupation
dhp.org.uk
dhp.org.uk
PriceOffers are invited for the individual titles or together as a whole. Price on application.Leases and title information are available via an online data room. Access on request.
EPCEnergy Performance Certificates are available upon request.
Legal CostsEach party will be responsible for their own legal costs in connection with the transaction(s).
VATAll prices quoted are exclusive of VAT which may be charged in addition.
Misrepresentation Act:Dove Haigh Phillips for themselves and for the Vendors and Lessors of this property whose agents they are give notice, i) The particulars are set as a general outline only for the guidance of intended purchasers or lessees and do not constitute nor constitute any part of, an offer or a contract, ii) All descriptions dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each item. iii) No person in the employment of Dove Haigh Phillips has any authority to make or give any representation or warranty whatever in relation to the property June 2019
Simon Dove [email protected] 245 5550
Sarah-Jayne Lishman [email protected] 245 0885
Viewing and further information
THE SITE
A58
A64
M1 J46
A64
A6120
A6120
LEEDS