Priestthorpe Lane, Bingley, West Yorkshire, BD16

High quality dental investment
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Majority let to Portman Healthcare Limited
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237.17 sqm (2,552sqft)
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Popular residential area
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Asset management potential
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Close to Bingley Centre

Location
This property is strategically located on Priestthorpe Lane in Bingley, an excellent position within close proximity to both the town centre and Bingley railway station which provides direct connection to Leeds, Bradford and Wakefield. The property is situated in a predominantly residential area.

Description
The subject property consists of a former residential dwelling that was converted to a doctor’s surgery and then a dental surgery. Externally there is a tarmac surfaced car park to the front and side. The basement, ground and part first floors provide dental surgery accommodation including – waiting area, four consulting rooms, office and staff room. Part of the first floor is currently occupied by a dental lab but the tenant will be vacate that space prior to sale. The space generally is well presented and of a high quality.

Business Rates
We have made enquiries with the VOA website and can reveal that the following information is listed from the April 2023 list: 1st Floor Right hand side: £3,650 Ground Floor and 1st Floor Left Hand Side: £13,500 Basement: £445

Tenancies
The ground floor and part of the first floor are let to Portman Healthcare Limited under two 20 year leases expiring 16th January 2035 with an outstanding rent review (Jan 2025). The current passing rent is £22,260pa exclusive of service charge. The remainder of the first floor was let to a dental lab at £9,600pa but will be vacant at the time of sale. We estimate the total ERV to be in the region of £35,000pa.

Terms / Tenure
We are seeking offers in the region of £375,000 for the freehold. To be sold by private treaty. The property is not elected for VAT.