7 VICTORIA COURT, BANK SQUARE, MORLEY, LEEDS LS27 9SE

Home 7 VICTORIA COURT, BANK SQUARE, MORLEY, LEEDS LS27 9SE
  • £ 200,000.00
  • Type:
  • Location:
  • Posted On: Nov 18, 2022
Sale
DESCRIPTION

The property comprises a semi-detached office building estimated to be about 20 years old.  The accommodation is laid out on two floors.  The property is of traditional construction with walls built in stone under a concrete tiled pitched roof and has car parking immediately in front of the building.  Click here for the PDF brochure.

The property stands in a small office park at the top of Churwell Hill at Morley a short walking distance from the centre of Morley in a mixed locality comprising residential, industrial and office property

We understand the property benefits from mains water, drainage, electric and gas.  Gas fired central heating is installed.

It is understood the property has been used as a B1 Office since construction.  Applicants should make their own enquiries of the Local Planning Office.

The property is offered for sale subject to the existing tenancies in the sum of £200,000.

The ground floor accommodation is subject to a 5-year lease from 24th September 2019 at a current annual rent of £9,200 per annum. There are no further reviews. The lease is held on effective full repairing and insuring terms and is outside the security of tenure provisions of the 1954 Landlord & Tenant Act.

The first floor offices are subject to a Lease for a term of five years from 25.03.22 at an annual rent of £8,000 per annum exclusive. There is a rent review on 01.05.25. The Lease is outside the security of tenure provisions of the 1954 landlord & tenant act. There is a tenants option to break on 30.04.25. the Lease is held on effective full repairing and insuring terms. The tenant is relocating to alternative premises but is still liable under the terms of the lease.

There is a landlord service charge to cover the management of the development, site service charge, boiler servicing and security and fire alarm testing of £3,600 approx. plus VAT for the year ended 31st December 2022.

Our client advises that VAT is applicable on this transaction. Your legal advisors should verify.

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