91 Queen Street, Morley, Leeds, LS27 8EF
Freehold bank in Leeds
Sold for £340,000
Please note the lease term is 15 years from 29th September 2008 and not as stated in the catalogue- Updated 11/03/2021 @ 16:40
A Freehold Town Centre Bank Investment Let to Santander Plc Current Rental Income: £33,500 pa
Property DescriptionThe property comprises an attractive two storey mid terraced building with banking accommodation on the ground floor and ancillary accommodation on the first floor. There is considered to be future conversion opportunities for the uppers to residential uses subject to obtaining any necessary planning permission. The property has been used for it's existing use for over 30 years. Due to the current restrictions in movements throughout the UK the property has not been visited by Bond Wolfe Auctions therefore floor areas have been provided and cannot be relied upon.
LocationThe property is prominently located lying to the eastern side of the pedestrianised Queen Street, a busy shopping area with a good mix of national and local retailers and within close proximity to Morley Indoor Market and a Morrisons food store.
Morley is a popular and bustling market town located approximately 5 miles south west of Leeds city centre.
Morley is a sought after commuter town with convenient train links to Leeds city centre as well as good access to the motorway network via the M62 and M1 motorways, a short distance from the property.
Energy Performance RatingE
TenureThe property is Freehold subject to a Lease to Santander Plc for a term of 15 years from the 29th September 2008 on a full repairing and insuring Lease at a current rental of £33,500 per annum.
For the year ended the 31st December 2019 Santander UK Plc reported a turnover of £1,112,000,000, pre-tax profit of £1,012,000,000, shareholders funds of £15,857,000,000 and a net worth of £14,091,000,000 (source Experian 14.01.2021).
Value Added TaxWe understand that VAT is not chargeable on this transaction.
Auctioneer's NotePlease note offers may be considered prior to the Auction Sale.
Remote Bidding AuctionThis property is being offered via a remote bidding auction with bidding by proxy, telephone or internet only. You will need to pre-register for remote bidding, provide your identification and debit card details no later than 24 hours prior to the auction, please visit our website for further details.
ViewingsExternal viewings only.
|Ground Floor Bank:||108.22||1,165|
|First Floor Ancillary||132.84||1,430|
Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and all potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction. Please click here for further details.
*DEFINITION OF GUIDE & RESERVE PRICE
All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.
COSTS AT AUCTION
When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding. They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.
The sale of each lot is subject to an administration fee of £1,920 inc VAT (£1,600.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction. Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.
Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the ‘lot information’. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.