Lower ground floor investment opportunity with ground, first and part second floor vacant office space.
Occupying a prominent position on Park Square East next to its junction with the Headrow and a short distance from Leeds Town Hall. Park Square comprises a number of prestigious period office buildings surrounding an attractive square within the heart of Leeds city centre and is a home to many legal practices and other professional organisations. The Law Courts, numerous restaurants, bars and other city centre amenities are all within a few minutes’ walk of the property
The property is part of a Listed Georgian terrace providing office accommodation at ground, first and second floor levels. The property benefits from two car parking spaces in the rear courtyard accessed from Park Cross Street.
Measured in accordance with the RICS Property Measurement (incorporating International Property Measurement Standards) 1st Edition, (IPMS: OFFICE BUILDINGS) May 2015, the unit provides the following approximate internal areas:
ground floor 519 sq ft (48.2m²)
first floor 620 sq ft (57.6m²)
second floor 387 sq ft (35.9m²)
sub-total 1526 sq ft (141.8m²)
lower ground floor 658 sq ft (61.1m²)
TOTAL 2184 sq ft (202.9m²)
The property is offered for sale on a freehold basis at a guide price of £375,000, subject to an existing commercial lease on the lower ground floor retail space. The lower ground floor is let at a current passing rent of £9,500 p.a. plus VAT on the basis of a 10-year on effective full repairing and insuring terms expiring in October 2022. VAT is understood to be applicable on the property.
According to the Valuation Office Agency website, the vacant office premises have a current 2017 rateable value of £22,750. Interested parties are advised to direct further enquiries to the local authority.