Commercial Development
A freehold commercial investment generating £13,860 per annum. The lease generating the rent has a 125 year term from 2007; it details a rent of 14% of market rent, with 5 yearly upward-only rent reviews. The property comprises a two storey office premises which is occupied via sub-leases.
The property enjoys a popular location close to the junction of Ashley Lane and Salts Mill Road on the northern periphery of Shipley Town Centre. The area provides excellent links to the A6038 (Otley Road), the A657 (Leeds Road) and A650 (Bradford Road). The surrounding area forms one of the major regeneration successes in Shipley. Rail links are available from Shipley Railway Station and Saltaire Railway Station.
Festival (Shipley) Management Company Limited.
14% of market rent (currently set at £13,860pa).
5 yearly and upward only. 2022 review outstanding.
125 years from August 2007.
Freehold. Subject to tenancy.
Auction Details
The sale of this property will take place on the stated date by way of Multi lot timed auction and is being sold under the Unconditional sale type.
Binding contracts will be exchanged at the point of sale.
All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of 1.8% of the purchase price (subject to a minimum of £2,400 inc. VAT)
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.
This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
