Rare chance to buy high street bank investment in Yorkshire with Bond Wolfe Auctions
Do you fancy investing in your own bank? If so, you can buy the premises of one in a bustling Yorkshire market town at Bond Wolfe Auctions’ next online auction at the end of this month.
The freehold on the Santander Bank at 91 Queen Street in Morley, in Leeds, is listed for sale with a guide price* of £335,000+ the auction on Wednesday 31 March.
It comes onto the market as Morley is set for a major transformation after securing £24 million from the government’s towns fund, revealed in Chancellor Rishi Sunak’s Budget announcement earlier this month.
Ambitious proposals for the town, including improvements to some of its most important buildings, have already been laid out in Morley’s Town Investment Plan, drawn up by local councillors and residents. The towns fund money will help turn those plans into a reality.
Ian Tudor, managing director of Bond Wolfe Auctions, said: “It is hard to imagine a better time to buy property in Morley, as the town prepares for major investment.
“A commercial investment like this is sure to attract considerable interest at our upcoming online auction, particularly with such a competitive guide price.”
The town centre bank, currently let to Santander, brings in a rental income of £33,500 per annum.
The premises have been used for a bank for three decades, standing on the eastern side of Morley’s pedestrianised Queen Street, a busy shopping area near Morley’s indoor market and a popular Morrisons food store.
The attractive two-storey, mid-terraced building has the bank on the ground floor, with the first floor offering additional accommodation.
Mr Tudor said: “We believe there are opportunities to convert the upper floors to residential use in the future, if the necessary planning permission can be secured.”
Morley lies just five miles from Leeds city centre and has become a much sought-after commuter town with its convenient train links to the centre of Leeds and good access to the nearby M62 and M1 motorways.
The bank building is just one of 226 lots listed for Bond Wolfe Auction’s next online auction on Wednesday 31 March.
This follows Bond Wolfe Auction’s February event which saw the largest ever number of lots achieving a record sales figure of £24.6 million, with an impressive success rate of 96%.
Mr Tudor added: “Our last auction, in February, saw around 23,000 people logging on to watch the proceedings and 3,500 registered to bid during the day. Our auction on 31 March is set to be another big attraction.
“Moving to online, live-streamed auctions has opened up our catalogue to buyers who would never have attended a one-day physical auction in Birmingham.”
The auction will be livestreamed via Bond Wolfe Auctions’ website with remote bidding by proxy, telephone or internet only.