Property

275 OTLEY ROAD, LEEDS, LS16 5LN – Retail & Residential Investment Opportunity

Particulars – 275 Otley Road, Leeds, LS16 5LN

FOR SALE 

 

275 OTLEY ROAD       

LEEDS

LS16 5LN                                                                  

             

FREEHOLD SHOP INVESTMENT WITH LARGE VACANT FLAT OVER

RETAIL UNIT PRODUCING £15,000 PER ANNUM WITH SEPARATE LARGE VACANT FLAT OVER

  • RARE FREEHOLD INVESTMENT
  • EXCELLENT PROMINENT LOCATION IN HIGH VALUE RESIDENTIAL AREA
  • CONVENIENT LOCATION CLOSE TO RING ROAD
  • SHOP PRODUCING £15,000 PER ANNUM WITH TENANT HOLDING OVER
  • RESIDENTIAL FLAT OVER WITH SELF-CONTAINED ACCESS

LOCATION

The property is located in West Park, a prosperous and sought after residential area approximately 3 miles north west of Leeds city centre.

West Park lies on the course of the A660 Otley Road and a short distance south of its intersection with the A6210 North Leeds Ring Road.

Headingley lies approximately 1 mile to the south east.  Immediately opposite, on the east side of Otley Road, are both the Weetwood Hall Hotel and conferencing complex and the Village Hotel and leisure complex.  Leeds Beckett University’s main Headingley campus lies just to the south and with the University of Leeds Weetwood Sports Park just to the east.

275 Otley Road lies at the corner of Weetwood Grange Grove.

DESCRIPTION

275 Otley Road comprises a large semi-detached commercial and residential property dating from the early part of the twentieth century.

Built of brick, it sits under a hipped pitched roof covered with tiles but benefitting from a side dormer adding additional accommodation to the second floor flat.

The ground floor of the property is let to a takeaway – Spice Fusion.  Beyond the retail window is an open-plan waiting and counter area.  Set to the rear are kitchens and storerooms.

A separate independent door in the front elevation provides access to the flat over.  Beyond the front door is a staircase to the first floor which comprises a large kitchen / living room with two en-suite bedrooms.

A staircase leads to a second floor divided into two rooms, one also benefitting from an en-suite bathroom.

Externally, the property is set back from Otley Road with a tarmacadammed forecourt for parking.  Being situated as a semi on a corner, the unit particularly benefits from good visibility to passing traffic.

ACCOMMODATION

The property is divided to provide the following approximate areas:

DESCRIPTION
NET INTERNAL AREA (SQ M) NET INTERNAL AREA (SQ FT)
Shop    
Front sales 27.13 292
Rear stores and kitchen 24.06 259
RETAIL TOTAL 51.19 551
Residential    
First floor 65.05 700
Second floor 28.64 308
RESIDENTIAL TOTAL 93.69 1,008

 

TENANCIES

The ground floor shop is let as a hot food takeaway.  The rent passing is £15,000 per annum, although the existing 10 year lease expired approximately 1 year ago.  Negotiations have not opened for a lease renewal.

The residential flat, made up of four bedrooms, is currently vacant.  It benefits from planning permission for occupation by three or more occupants (under an Article 4 Directive).

EPC & SERVICES

An EPC is available upon request. We are advised the shop and flat are separately metered for electricity, gas and water services.

TENURE AND TERMS

The freehold interest in the property is offered for sale subject to the ground floor tenancy outlined above and with vacant possession of the flat.

Offers are invited in the region of £400,000 subject to contract.

VIEWING AND FURTHER INFORMATION

For further information and to make arrangements to view, please contact

Tapp Chartered Surveyors on 0113 243 0920.

 

SUBJECT TO CONTRACT

Details prepared January 2022

WHAT OUR CLIENTS SAY

  • "TAPP CS negotiated the acquisition of our preferred site and assisted us throughout that process. They have been proactive in the marketing of our former premises off Ascot Road and despite the first sale falling through at the last moment were able to identify, negotiate and complete the sale to Roberts Auto within a 4 week period."

    David Jones – Acupoit Ltd