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AGENT'S DETAILS


46-50 Leeds Road, Ilkley, LS29 8DS

For sale: £725,000.00|5047 Sq Ft|Retail, Leisure Property, Mixed Use, Licensed & Leisure, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALE£725,000.00
SIZE5047 Sq Ft
ADDRESS46-50 Leeds Road, Ilkley, LS29 8DS
TYPERetail, Leisure Property, Mixed Use, Licensed & Leisure, Other Property Types & Opportunities
TENUREFor Sale Freehold
POSTED ON9th September 2020

DESCRIPTION

ILKLEY

Ilkley is a spa town and civil parish in West Yorkshire, forming part of the City of Bradford Metropolitan District Council and is approximately 12-miles north of Bradford and 17-miles north-west of Leeds. The town lies mainly on the south bank of the River Wharf in Wharfdale, one of the well-known Yorkshire Dales.

Ilkley Spa Town Heritage and the surrounding countryside make tourism an important local industry. The town is characterised by Victorian architecture, wide streets and floral displays. Ilkley Moor to the south of the town is the subject of a folk song often described as the unofficial anthem of Yorkshire “On Ilkla Moor Baht’ at”.

The town has excellent communications by rail and road to both Leeds and Bradford and, there is a town centre which is an established tourist location with a high number of independent small shops, in particular Lishman’s of Ilkley, Bettys Tea Room, The Box Tree Restaurant amongst others.

LOCATION

The property occupies an excellent and visible main road position fronting onto Leeds Road on the eastern periphery of the town centre, in an established retail location, close to Booths Supermarket and near to a number of established retailers including Lisman’s of Ilkley and Hartley’s Auctioneers & Valuers. Ilkley Amateur Operatic Society is in the building adjoining and, slightly to the north is a small surfaced car park.

DESCRIPTION

The property comprises a large ground floor retail unit, currently let to Walton’s Fine Furnishing Ltd. a long-established Ilkley business. The upper floor has been fully refurbished and now provides a well-established and well-known 2-screen cinema experience, with associated bar, lounge, toilet facilities etc.

ACCOMMODATION

Walton’s Fine Furnishings

Ground Floor

Sales Area 199.36 sq. m. (1,146 sq. ft.)
Ancillary 30.29 sq. m. (326 sq. ft.)

Basement

Stores 108.70 sq. m. (1,170 sq. ft.)

Cinema

First Floor 223.43 sq. m. (2,405 sq. ft.)

SERVICES

We understand the property benefit from the provision of all main services to include gas, electric, water and mains drainage. Each of the units are independently metered and incorporate their own services, heating systems etc. We understand that the cinema includes a lift to the rear which was installed by the tenant.

None of these services have been tested and prospective

purchasers are advised to satisfy themselves as to their condition and type.

OUTGOINGS

The two units are assessed for Uniform Business Rates as follows:-

Address Description Rateable Value
46-50 Leeds Road, Ilkley, LS29 8DS Shop & Premises £47,250
46A Leeds Road, Ilkley, LS29 8DS Cinema & Premises £40,000

The Uniform Business Rate for 2019/2020 is 50.4 pence in the £.

Due to transitional relief provisions and personal circumstance of prospective tenants, interested parties are advised to check with the Local Rating Authority as to their current rates liability.

TENURE

Freehold – subject to occupational leases.

LEASES

The property is subject to two occupational leases, the details of which are set out below:-

Tenant Lease Rent
Waltons Fine Furnishings Limited 10 Years from 30.11.2017. Review 30.11.2022. Break 30.11.2022 £29,000 PA Excl
Ilkley Cinema Limited* 20 Years from 15.03.2014. Review 6.03.2020 & every 5 years. Break dates upon request £20,000 PA Excl
TOTAL £49,000 PA
* Ilkley Cinema holds the property on a lease and a supplemental lease – copies of leases available upon request

PRICE

£725,000 – subject to the occupational leases – Plus VAT (if appropriate)

VAT

We are informed that the property has not been elected for VAT

ENERGY PERFORMANCE CERTIFICATE

Unit 1 G 152
Unit 2 F 148
Unit 3 E 102
1st Floor G 241

LOCATION

Location: 46-50 Leeds Road, Ilkley, LS29 8DS

Ilkley (0.2 miles)

Ben Rhydding (1.0 miles)

Burley-in-Wharfedale (3.0 miles)

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