3 Market Place Pontefract WF8 1AG

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Under offer
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Under offer
  • Retail
  • 1478 sq ft
  • To Buy
£295,000

****GRADE II LISTED RETAIL INVESTMENT FOR SALE****

INVESTMENT SUMMARY

LOCATION 

Pontefract is a historic West Yorkshire market town with a residential population of approximately 30,880 persons. The town is located within 1 mile of Junction 32 of the M62 motorway and has excellent access to the Leeds/ Bradford conurbation and surrounding areas to the south via the A1 and M1.

There are good rail connections with direct trains to York, Leeds & Wakefield and the connection to London King’s Cross taking approximately 3 hours. The town benefits from a good bus service with the Pontefract Bus Station being situated within a short walking distance of the property.

Pontefract is renowned for its horse racing and the Pontefract Racecourse is the longest continuous horse racing circuit in Europe at 2 miles 125 yards.

SITUATION 

The property occupies a prime location within the town immediately adjacent to Barclays Bank and The Printer Draft public house  with other multiple retailers in the close vicinity including Marks and Spencer, Nationwide, Santander, Vodafone, Holland & Barrett and Greggs as well as a number of local retailers, bars and restaurants.

DESCRIPTION 

The property comprises a Grade II listed mid-terrace 3 storey retail unit of brick construction under a pitched slate roof to the front and rear extensions.

The property provides ground floor sales and rear stock areas with first floor offices and staff facilities, and second floor storage. It has been well fitted out by the tenant in their corporate style.

Externally the property has been redecorated recently by the tenant and benefits from a rear car park / yard area which is accessed from Southgate.

TENURE

Freehold

TENANCY

The property is let to Done Brothers (Cash Betting) Limited on a 10 Year FRI lease from 29th September 2016 at a current rent of £31,250 pax. The tenant did benefit from a break clause on 28th September 20-21 but has not exercised this break, demonstrating their commitment to the unit.

ACCOMMODATION

The property has the following approximate dimensions and areas:-

Internal width 5.96 m / 19ft 7″

Shop depth  12.41m / 40ft 9″

GF Sales 137.30 sq m / 1,478 sq ft

ITZA 739.75 units

FF 59.60 sq m / 642 sq ft

SF 79.04 sq m / 851 sq ft

TENANT INFORMATION 

Done Brothers (Cash Betting) Limited, trading as Betfred are one of the largest and most established provider of betting services in the UK operating over 1,550 shops throughout the UK. Founded in 1967 by Fred and Peter Done as Done Bookmakers, the company rebranded as Betfred in 2004 coinciding with the launch of their digital platform.

The company has a D & B rating of 5A 1 with a maximum rated credit of £9 million.

EPC 

The property has been independently assessed and certified as falling within Band E (102)

A copy of the EPC is available on request.

PRICE 

We are seeking offers in the region of £295,000 subject to contract which equates to a net initial yield of 10.26% after deduction of normal purchaser’s costs.

VAT

The property is not registered for VAT

VIEWINGS 

Please contact our agents, Brackenridge Hanson Tate on 0113 244 9020