Situated within Thornton's Arcade which links the prime areas of Lands Lane and Briggate within Leeds city centre. The property is located in the centre of the Arcade and nearby occupiers include Starbucks, Blacks Outdoor Wear, Phones4u, and Ann Summers.
The property comprises a ground floor retail shop with additional first floor retail space and second floor storage, kitchenette and staff WC. The unit benefits from an internal electric roller shutter to the shop front.
Measured in accordance with the Royal Institution of Chartered Surveyors Code of Measuring Practice 6th Edition the unit provides the following approx. net internal areas:
Ground floor 255 sq ft (23.6m²)
First floor 197 sq ft (18.3m²)
Second floor 208 sq ft (19.3m²)
Total 660 sq ft (61.3m²)
The property is available by way of a new lease on full repairing and insuring terms for a minimum certain term of 5 years. The initial rental will be £22,000 p.a. exclusive; alternatively the property may be available on a freehold basis at a guide price of £350,000. It is understood that VAT is not applicable on the sale of this property.
According to the Valuation Office Agency website, the premises has a current 2017 rateable value of £14,750. Interested parties are advised to direct further enquiries to the local authority.