Bradford Road, Wakefield, West Yorkshire, WF1

FOR SALE
MIXED USE INVESTMENT PROPERTY
47-51 BRADFORD ROAD, WAKEFIELD WF1 2AA

A PROMINENTLY SITED CONVENIENCE STORE LET TO ONE STOP STORES LTD. TOGETHER WITH 4 RESIDENTIAL UNITS PRODUCING £36,680 PA WITH ONE FLAT VACANT AND TO LET AT £7500 PA AMOUNTING TO A POTENTIAL GROSS INCOME OF £44,180 PA.
PURCHASE PRICE £585,000

DESCRIPTION
The property comprises the lion’s share of a building dating back to the 1950s which has accommodation across three floors with two storeys to the front and three to the rear. Most of the ground and lower ground floor comprises a convenience store which is let to One Stop Stores Ltd a company owned by Tesco PLC. The remainder of the property is made up of 4 residential units two of which are 2 beds and the other two are 1 beds.

The shop is producing £20,000pa and the lease is due for renewal in 2026. Three of the residential units are let on assured shorthold tenancies producing £16,680 with the remaining flat vacant and available at £625pcm, which, assuming a letting at this level would generate a gross annual income of £44,180 across the investment as a whole.

LOCATION
Prominently located the building stands on the south west side of Bradford Road a short distance from the intersection with the A650 Leeds Road which is part of the Wakefield ring road network. In addition the surrounding residential area is popular and the property enjoys parking and loading areas to the rear and short stay Local Authority owned and managed on street parking bays directly outside the shop to the front.

ACCOMMODATION

Shop
Ground floor With main retail areas, office and stores. 141.8m2/1,526ft2

Lower Ground Floor Stores and ancillary accommodation 137.8m2/1,483ft2

Residential
47a Bradford Road Independent access to the side with accommodation to ground and first floor comprising; lounge, kitchen, 2 bedrooms and bathroom. 68m2/732ft2

47b Bradford Road. Independent access to lower ground floor comprising; lounge at lower ground floor with bedroom, separate WC and shower room at ground floor. 54m2/581ft2

49a Bradford Road Lower ground floor entry shared with 51a with accommodation at first floor comprising; Living kitchen, 2 bedrooms, separate WC and bathroom. 63m2/678ft2

51a Bradford Road Access as 49a above with accommodation at first floor comprising; lounge, kitchen, bedroom and bathroom. 66m2/710ft2

Special Note: Measurements in the shop are restricted by the tenant fit out and the floor areas detailed have been supplied by the tenant. None of the flats have been inspected and the floor areas detailed are from the EPC documents.

BUSINESS RATES AND COUNCIL TAX
The retail elements are assessed for business rates based on a rateable value of £17,000. All the flats are assessed for council tax within band A.

VAT
The property is not presently elected for VAT. All figures are quoted net of VAT.

LEASE AND TENANCY INFORMATION
Retail element; Let on a 20 year lease from 01/04/2006 on a tenant internal repairing and insuring lease assigned to One Stop Stores Ltd in 2012. The rent passing is £20,000pa.

Each of the residential units are let on assured shorthold tenancy agreements and the present passing rents are as below:

47a Bradford Road £415pcm
47b Bradford Road £450pcm
49a Bradford Road £525pcm
51a Bradford Road £550pcm

PURCHASE PRICE
£585,000

VIEWING AND ENQUIRIES
Initially we are requesting expressions of interest along with potential offer levels based on an external inspection. The occupiers are aware of the property’s proposed sale but should not be contacted direct for access. Internal access will be provided should a conditional sale be agreed

For any enquiries please contact:

Alfie Sullivan Tel: (Option 3) or
Email:

ENERGY PERFORMANCE CERTIFICATES
EPCs are available for the individual elements of the property on request