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Features and description
AUCTION ENDS 11-01-2024 at 13:00
FOR SALE BY MODERN METHOD OF AUCTION WITH A STARTING BID OF £225,000 PLUS RESERVATION FEE OF 4.2%
Offered for sale is this impressive glass fronted property in the prominent Kingsway Arcade with a landmark building has frontage onto the pedestrian area with ample passing footfall between Northgate and Bradford Road. The Ground Floor is currently occupied by The Cocoa Lounge who have been occupants since 2018 and they are currently paying an annual rent of £13,000 PA with a Rent Review pending. The Landlord has previously let out the First Floor and the basement and the potential Rental income that can be produced annually is circa £28,200 Per Annum. Surrounding traders include Imsons, Imperial Blinds and Curtains and Jesters Chicken and a variety of town centre retail shops.
Auctioneer's Comments - This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited. This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance.
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.2% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change
Entrance - Through front door, with roller shutters internal shutters to all windows
Restaurant Floor & Kitchen - 11.34m x 4.19m (37'2" x 13'8") - Wonderful glass fronted resturant floor with kitchen area and front counter, access to first floor and basement function room.
Function Room - 10.97m x 8.06m (35'11" x 26'5") - Currently being used as a function room in the lower level with tiled floor and ceiling spot lights and further WC with vanity wash hand basin and storeroom. (949'20sqft/88.49Sqm)
First Floor - 11.28m x 8.52 (37'0" x 27'11") - Previously used as an extention to the current restaurant with its own wood burning pizza oven and resturant seating area with separate access from the Kingsway Arcade. (96.21Sqm/1033.90sqft)
Second Floor - 11.40m x 8.40m (37'4" x 27'6" ) - Currently used as a storage area by the restaurant and has the same floor space (Approx 95.80sqm/1032sqft)
Description - Offered for sale is this impressive glass fronted property in the prominent Kingsway Arcade with a landmark building has frontage onto the pedestrian area with ample passing footfall between Northgate and Bradford Road. The Ground Floor is currently occupied by The Cocoa Lounge who have been occupants since 2018 and they are currently paying an annual rent of £13,000 PA with a Rent Review pending. The Landlord has previously let out the First Floor and the basement and the potential Rental income that can be produced annually is circa £28,200 Per Annum. Surrounding traders include Imsons, Imperial Blinds and Curtains and Jesters Chicken and a variety of town centre retail shops.
Term - The freehold property is available with a starting bid of £225,000 plus reservation fee of 4.2%
Outgoings - More information in respect of rates can be obtained from Kirklees Council on[use Contact Agent Button]
Legal Costs - All prospective buyers are responsible for their own legal costs including the auction pack
Planning - The property currently benefits from the use of CLASS A3 FOOD for hot food consumption and light refreshments.
Viewing - By calling the appointed agents on[use Contact Agent Button] or emailing [use Contact Agent Button]
FOR SALE BY MODERN METHOD OF AUCTION WITH A STARTING BID OF £225,000 PLUS RESERVATION FEE OF 4.2%
Offered for sale is this impressive glass fronted property in the prominent Kingsway Arcade with a landmark building has frontage onto the pedestrian area with ample passing footfall between Northgate and Bradford Road. The Ground Floor is currently occupied by The Cocoa Lounge who have been occupants since 2018 and they are currently paying an annual rent of £13,000 PA with a Rent Review pending. The Landlord has previously let out the First Floor and the basement and the potential Rental income that can be produced annually is circa £28,200 Per Annum. Surrounding traders include Imsons, Imperial Blinds and Curtains and Jesters Chicken and a variety of town centre retail shops.
Auctioneer's Comments - This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited. This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance.
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.2% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change
Entrance - Through front door, with roller shutters internal shutters to all windows
Restaurant Floor & Kitchen - 11.34m x 4.19m (37'2" x 13'8") - Wonderful glass fronted resturant floor with kitchen area and front counter, access to first floor and basement function room.
Function Room - 10.97m x 8.06m (35'11" x 26'5") - Currently being used as a function room in the lower level with tiled floor and ceiling spot lights and further WC with vanity wash hand basin and storeroom. (949'20sqft/88.49Sqm)
First Floor - 11.28m x 8.52 (37'0" x 27'11") - Previously used as an extention to the current restaurant with its own wood burning pizza oven and resturant seating area with separate access from the Kingsway Arcade. (96.21Sqm/1033.90sqft)
Second Floor - 11.40m x 8.40m (37'4" x 27'6" ) - Currently used as a storage area by the restaurant and has the same floor space (Approx 95.80sqm/1032sqft)
Description - Offered for sale is this impressive glass fronted property in the prominent Kingsway Arcade with a landmark building has frontage onto the pedestrian area with ample passing footfall between Northgate and Bradford Road. The Ground Floor is currently occupied by The Cocoa Lounge who have been occupants since 2018 and they are currently paying an annual rent of £13,000 PA with a Rent Review pending. The Landlord has previously let out the First Floor and the basement and the potential Rental income that can be produced annually is circa £28,200 Per Annum. Surrounding traders include Imsons, Imperial Blinds and Curtains and Jesters Chicken and a variety of town centre retail shops.
Term - The freehold property is available with a starting bid of £225,000 plus reservation fee of 4.2%
Outgoings - More information in respect of rates can be obtained from Kirklees Council on[use Contact Agent Button]
Legal Costs - All prospective buyers are responsible for their own legal costs including the auction pack
Planning - The property currently benefits from the use of CLASS A3 FOOD for hot food consumption and light refreshments.
Viewing - By calling the appointed agents on[use Contact Agent Button] or emailing [use Contact Agent Button]
Property information from this agent
Area statistics
Crime score
High crime
10/10
About this agent
We are part of the Hunters network which has many branches across the UK. We will be specialising in both Sales and Lettings and we aim to be the market leader in our area and raise the standard in Dewsbury and stand out from other Agents. We will be selling properties for first time buyers ranging to sophisticated properties under the Hunters exclusive brand. We will be covering in Dewsbury and surrounding areas including Batley, Heckmondwike, Birstall, Ravensthorpe and Mirfield. As an experienced Lettings Agent we will be offering Landlords a fully managed lettings service as well as a Tenant Find only Service. Hunters Franchisee Ashraf Esat comments on his new venture: "Having completed my Law Degree I joined a local Law Firm where I worked as a Conveyancer for 12 years. I have over 18 years of experience in dealing with Properties and having been born and bred in Dewsbury I am very familiar with Dewsbury and the surrounding Towns of Batley, Heckmondwike, Ravensthorpe and Mirfield. I am very excited to be part of the Hunters network and my Team will provide you with an excellent Customer experience."