Office for sale in North Parade, Bradford BD1

Situation

The premises are situated upon North Parade in the heart of the popular “Independent Quarter” characterised by several bars (The Peacock, The Record Café etc.) as well as service professional offices.
The Council have completed various shop / visitor friendly improvements to North Parade (landscaping, external seating areas etc.) whilst retaining some metered car parking provision.

Property/accommodation

The property comprises a substantial imposing Grade II Listed building with many of its original features having been retained providing fully fitted licensed restaurant premises at ground floor level and extensively equipped lower ground floor preparation kitchen. The building has undergone extensive renovation and most recently new double glazed windows to all upper floor windows.
Separate ground floor access serves the 3 upper floors which are currently rented out (see “Sale Price”).
The premises provide the following approximate gross internal floor areas (provided by the owner’s architects and to be verified on site):-

Ground floor - 193.0 sq m (2077 sq ft)
Lower ground floor - 193.0 sq m (2077 sq ft)
1st floor - 193.0 sq m (2077 sq ft)
2nd floor - 193.0 sq m (2077 sq ft)
3rd floor - 90.0 sq m (968 sq ft)
Total: 862.0 sq m (9276 sq ft)

Ground Floor
Fully fitted Licensed restaurant premises.

Lower Ground Floor
WC facilities, office, fully fitted catering / preparation kitchen with walk in cold room and 2 beer stores.

First Floor
Occupied offices (unaffected by any letting or sale)

Second Floor
Occupied offices (unaffected by any letting or sale)

Third Floor
Occupied offices (unaffected by any letting or sale)

Rating

A search of the Valuation Office website reveals that the property has the following Rateable Values:-
Rateable Value: £17,250
Rates Payable (approx.): £8,607
Parties are advised to check with the local Rating Authority as to the precise current rates liability.

Rent/lease

The fully fitted ground floor/basement premises are available to let upon a new internal repairing and insuring lease at a commencing rental of £30,000 per annum to include use of all fixtures (including a full stainless steel kitchen) and fittings insitu (a full inventory is available upon request).

Sale price

Alternatively, offers in the region of £550,000 will be considered for the freehold interest (Subject to Contract), subject to the terms of a lease in respect of the upper floors.
These are currently rented out by way of a protected lease expiring in July 2027 at a current rental of £17,000 pa - further details are available upon request.

Bradford city centre growth zone

We believe the premises are situated within the Growth Zone and as such, the occupier of the premises may be eligible for financial assistance. For further information please contact Invest in Bradford

Legal costs

In the event of a letting, the ingoing tenant to be responsible for their own fees and making an estimated contribution of £1,500 (+VAT) towards the landlord’s fees.
In the event of a sale, each party to be responsible for their own fees incurred.

VAT

We are advised that VAT is not chargeable on the rent/sale price, but reserve the right to do so, if applicable.