Retail premises for sale in The Parade, Bingley BD16

Location

The property is situated at the centre of Cottingley, forming part of a the main retail area on the continuation of Manor Road, in a densely populated area. The property forms one half of “That Parade”, and nearby occupiers also include Cottingley Surgery, Cottingley Community Centre, Safe & Sound, The Throstles Nest ph, and Melvyn Davis Bakery.

Car Parking is available immediately to the front of the Shops.

Description

The property comprises a development of 6 shops, with 5 flats over. Occupiers include Village Superstore (with Post Office), Prime Cuts of Cottingley (Butchers), Sarah Louise (Hairdresser), Cottingley Pharmacy and Magic Wok (Chinese Takeaway).

There are 5 flats, which are let with the shops, and garages to the rear of the development. There are 5 lock-up garages to the rear of The Parade.

The property is fully let on a series of leases, with a total income of £74,000 pa (Schedule of tenancies is available upon request).

Services

The property benefits from the provision of gas, mains electric, water and drainage.
Please Note: None of these services have been tested and prospective tenants are advised to satisfy themselves as to their condition and type.

Outgoings

We understand the property to be assessed for Uniform Business Rates as follows:-

Address: 1-3 The Parade, Cottingley, BD16 1RP
Description: Shop and Premises
Rateable Value: £26,250

Address: 5 The Parade, Cottingley, BD16 1RP
Description: Shop and Premises
Rateable Value: £6,500

Address: 5B The Parade, Cottingley, BD16 1RP
Description: Shop and Premises
Rateable Value: £6,300

Address: 7 The Parade, Cottingley, BD16 1RP
Description: Pharmacy and Premises
Rateable Value: £10,750

Address: 9 The Parade, Cottingley, BD16 1RP
Description: Shop and Premises
Rateable Value: £10,750

The Uniform Business Rate for 2024/2025 is 54.60 pence in the £.

Due to transitional relief provisions, the rates payable may have no relation to the rateable value. Interested parties are advised to check with the Local Rating Authority as to the current rates liability.

Tenure

The property is held on a leasehold basis, for a term of 99 years from 1 July 1964. The lease therefore expires on 30 June 2063. The ground rent is £200 throughout the term. A copy of the lease is available upon request.

Leases

The property will be sold, subject to the terms of the 5 occupational leases, which are on Fri terms. Al full schedule of tenancies is available upon request. The current total income is £74,000 pa Excl.

Price

£525,000 subject to contract, and occupational leases, for the long leasehold interest in the property.

Legal costs

Each party to be responsible for their own legal costs incurred in the transaction.

Energy performance certificate

The Energy Performance Certificate (EPC) rating for the property is:-

1-3 The Parade B - 44
5 The Parade C - 62
5b The Parade D - 99
7 The Parade C - 70
9 The Parade E - 105

VAT

The property is not registered for VAT, and VAT will not be charged on the purchase price.

Anti-money laundering

In accordance with Anti-Money Laundering Regulations, two forms of id and confirmation of the source of funding will be required from the successful purchaser.