Tribeca House Roundhay Road

The property comprises a four storey office building of contemporary design and built in 2007.  It is built around a steel frame with walls clad partly in brick, partly in proprietary relief panels and partly in aluminium and glazed curtain walling under a flat roof.  The predominance of accommodation is laid out on the upper three floors with a ground floor entrance and secure car parking at ground floor level for 17 cars.  The accommodation comprises predominantly open plan office space with a centre core incorporating W.C. facilities on each of the three upper floors.

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LOCATION

The property occupies a prominent position at the junction of Roundhay Road and Barrack Street only about a mile from Leeds City Centre in an established commercial area comprising offices and warehousing and industrial property. It is immediately adjacent to Thomas Danby College. The centre of Leeds and the motorway network are readily accessible.

ACCOMMODATION:

Ground Floor

52.65 SQUARE M, 566 SQUARE FT

First Floor

569.75 SQUARE M, 6,133 SQUARE FT

Second Floor

569.75 SQUARE M, 6,133 SQUARE FT

Third Floor

274.19 SQUARE M, 2,951 SQUARE FT

Location

We understand the property benefits from mains water, drainage and electricity. The office space is Comfort Cooled and the W.C.’s benefit from electric radiators.

Planning

Whilst we have not had confirmation of the relevant planning consent it is assumed that the premises have planning consent for office use.

Transitional relief may affect the rates payable quoted.

We understand the property is assessed for rating purposes as follows.

Offices & Premises

Rateable Value – £192,000 Estimated rates payable – £92,160

The property is subject to a Lease from the 2nd February 2013 for a term of 5 years at an annual rent of £182,604 per annum. The current Lease refers back to a previous Lease from 2007. This is on full repairing and insuring terms save for a Schedule of Condition whereby the tenant is not liable to put the property in any better condition than it was at the commencement of the term and the tenant is not responsible for repair of the roof or curtain walling. Copies of the Leases are available from the letting agents if required.

The property is offered for sale as an investment in the sum of £1,650,000. This reflects an initial yield of 11.75% after purchasers costs of 5.8%.