The Wardley Centre, 3 - 23 Little Horton Lane & Princes House, Little Horton Lane, Bradford, BD5 0AD

LONG LEASEHOLD OPPORTUNITY FOR SALE

Currently producing an estimated Net Income of £101,727 pa Exclwith residential conversion opportunity to provide 16 one bedroom apartments.

Fixed rental increases, in leases for large space users.

WARDLEYHOUSE

INVESTMENT SUMMARYProminent centrally located mixed retail and leisure investment opportunity • Total income of approx £113,030 per annum secured on 10 occupational tenancies, to include The Board of Trustees of the Science Museum, Icetime Limited & Nicetime and Airobounce Ltd• Princes House, with permitted development rights for conversion from offices (B1A) to 16 residential apartments (C3)• Asset management opportunities • Offers Invited in the Region of £1,200,000 (One Million Two Hundred Thousand Pounds) representing a net yield of approximately 10% after an allowance of £250,000 for the development opportunity. Subject to Contract and exclusive of VAT

DEVELOPMENTPrinces House, which comprises a 4-storey former office building with basement storage, benefits from permitted development rights, Application No. 18/04346/POR for a change of use from office (B1A) to 16 residential apartments (C3). Plans and further information is available upon request.

WARDLEYHOUSE

WARDLEYHOUSE

DESCRIPTIONThe property comprises a series of retail units, including a café, Zoo Lounge, hairdresser, newsagents etc., together with a large former bingo hall converted to a soft play area occupied by Airobounce Ltd., Bradford Ice Rink occupied by Icetime Ltd & Nicetime and, basement storage for the Board of the Science Museum. Part of the upper floors are former offices known as Prince’s House, which now have permitted development rights to convert into 16 one-bedroom apartments and above this, is an 8-storey student accommodation building, operated by Sanctuary Housing. The property is currently producing a net rental income of £101,727 PA excl, after payment of ground rent..

ACCOMMODATION

Unit/Address Floor(s) Use Sq M Sq Ft

19 Little Horton Lane

Basement,Ground,

1st, 2nd & 3rdAirobounce 3,316.42 35,698

21-23 LittleHorton Lane Ground Airobounce 186.74 2,010

Unit 1 (3-5 Little Horton Lane) Ground Retail/Cafe 89.28 961

Unit 2 (7-9 Little Horton

Lane)

Basement, Ground & 1st

Bar/Club with Flats over 368.92 3,971

Unit 3 (11-13 Little Horton

Lane)Ground Retail 258.83 2,786

Unit 4 (15 Little Horton Lane) Ground Retail 63.36 682

Unit 5 (17 Little Horton Lane) Ground Retail 47.25 509

Basement Areas Basement Storage/

Archives 1,688.33 18,173

Princes House Basement to 4th Floor

Former Offices - consent for

flats889.92 9,579

9-17th Floors (inc part base-

ment)

Student Accommoda-

tion6,913.10 74,412

Substation Ground Electricity Substation - -

TOTAL 13,822.09 148,781

TENANCY SCHEDULE

TENANCIESThe property is let on a variety of occupational leases, in accordance with the Tenancy Schedule below. The tenants include The Board of Trustees of the Science Museum, Icetime Ltd. & Nicetime, Airobounce Ltd., Ceros (Bradford) Ltd. – sub-let to Sanctuary Housing etc.

TENURELong leasehold. The property is held for a term of 150 years from 22 December 2000 (131 years unexpired), from the City of Bradford Metropolitan District Council. The head rent (payable from 24 December 2015, until the end of the lease) is 10% of the underlease rents collected. By agreement with Bradford Council, this is paid in arrears, based on the previous year’s rent. The estimated rent payable for the current year to Bradford Council is £11,303.

Address Tenant Lease Start Term Lease Expiry Break Rent Rent Review

Unit 13-5 Little Horton Lane

Rezeq Naim & Yousif Abo Arkoub 01/08/18 6 years 31/07/24 01/08/21 £7,200.00 N/A

Unit 27-9 Little Horton Lane

Landman Properties Ltd t/a Zoo Lounge 13/07/66 120 Years 09/07/88 N/A £4,000.00 13/07/50

Unit 3 Ground & Basement11-13 Little Horton Lane Gentleman Groomers 01/08/2019 3 years 31/07/2022 N/A £6,000.00 N/A

Unit 3 First Floor11-13 Little Horton Lane

City Park Facilities Management Ltd 01/08/2019 2 years 31/07/2021 N/A £4,000.00 N/A

Unit 415 Little Horton Lane

Mr A Hussain t/a Sky Newsa-gents 30/09/14 10 years 29/09/24 N/A £6,000.00

Unit 517 Little Horton Lane

Mr Meran Ali t/a Leonardo’s Hairdressers 10/08/18 3 Years 09/08/21 N/A £7,200.00

19 Little Horton Lane (Part)& 21/23 Little Horton Lane Airobounce Ltd 04/09/18 6 Years 03/09/24 04/09/23 £35,000.00

Year 3 Increase to £42,500 Year 5 Increase

to £45,000

19 Little Horton Lane (Part) Ice Time Ltd & Nice Time 24/05/18 10 Years 23/05/28 N/A 32,500.00 Year 5 Increase to £35,500

Basement The Board of Trustees of the Science Museum 01/09/66 99 Years 31/08/65 N/A £11,000.00 N/A

Princess House9,362 sq ft

Vacant - Planning Permission for 16 x 1 bed appt’s N/A N/A N/A N/A N/A N/A

9th-17th Floors(incl part basement)

Ceros (Bradford) Ltd(Sublet to Sanctuary Housing) 22/12/00 149 Years 11

Months 27 Days 18/12/21-50 N/A £0.00 N/A

Substation Yorkshire Electrictiy Group 18/05/67 60 Years 17/05/27 N/A £130.00 N/A

TOTAL £113,030.00

LOCATIONThe property occupies a prominent and central position, being located at the junction of the A6181 Princes Way and A647 Little Horton Lane, in the southern section of Bradford City Centre. It is immediately adjacent to th4e Science & Media Museum, with IMAX picture house adjacent and, Bradford Central Library. Nearby is the recently reconstructed Centenary Square, with mirror pool and restaurants which include JD Wetherspoon Plc, Nando’s, Starbucks etc.

The property is within an established leisure and restaurant area of the city, being close to the4 Alhambra Theatre, and only a couple of hundred yards away from the Odeon cinema redevelopment by Bradford Live. Other occupiers nearby include Omar Khan’s Restaurant, Royal Kashmiri Restaurant, My Lahore, Dunkers Delight etc.

The property benefits from a substantial public surface car park immediate to then rear and, is only several hundred yards to the east of both the University of Bradford and Bradford College 

CITY HALL

St GEORGE’S HALL

CITY PARKSCIENCE & MEDIA

MUSEUMALHAMBRA THEATRE

ODEON EVENTSVENUE

PROVIDENT FINANCIAL HEAD OFFICE

BROADWAYSHOPPING CENTRE

KIRKGATE SHOPPING CENTRE

WARDLEYHOUSE

VIEWING & FURTHER INFORMATION

VATAll rents, prices etc. quoted are subject to VAT. We antici-pate, dependent upon the VAT status of the purchaser, that the property could be transferred as a going concern

EPCThe Energy Performance Ratings for the properties are:- Princes House C - 70 Zoo Lounge D-99 Basement 1 G – 240 Mecca Social Club C – 52 Unit 3 The Wardley Centre Ltd. C – 65 17 Little Horton Lane D – 88 Basement X2 G - 1047

MISREPRESENTATION ACT 1969Mark Brearley & Co give notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees, and do not constitute any part of an offer or contract. Details are given without an responsibility and any intending Purchasers, or Lessees or Third Party 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 of them. No person in the employment of Mark Brearley & Co has any authority to make any representation or warranty whatever in relation to this property. Sept 2019  Designed & Produced by conemarketing.co.uk 

Mark Brearley mark@markbrearley.co.uk

PRICEOffers are invited in the region of £1,200,000 (One Million Two Hundred Thousand Pounds) Subject to Contract for the long leasehold interest subject to the occupational tenancy and other agreements. Subject to Contract and exclusive of VAT. A purchase at this price reflects an attractive net initial yield of approximately 10% after usual purchasers’ costs and an allowance of £250,000 for the residential development opportunity at Prince’s House.

WARDLEYHOUSE

The City of Bradford has a local authority population in the order of 530,000. It forms part of the West Yorkshire conurbation and is the fourth largest urban area in the United Kingdom. Bradford is situated approximately 200 miles north of London, 9 miles west of Leeds and 38 miles east of Manchester. The City benefits from its own motorway spur (M606) which provides excellent vehicular links to the M62 and the larger motorway network. Leeds Bradford Airport is approximately 8 miles to the north and direct trains run from Bradford Interchange to London on a regular daily basis.

BRADFORD